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Ramesh Khandelwal, who represents Madhya Pradesh on the government-constituted board, said on Wednesday that the 0.4 per cent merchant discount rate, or MDR, on UPI transactions above Rs 2,000 was at odds with the government’s stated emphasis on ease of doing business. The charge is due to take effect on October 15.

Khandelwal said he would raise the issue at the next meeting of the National Traders’ Welfare Board and sought an immediate rollback in the wider interests of merchants and customers. He argued that businesses operating on thin margins could struggle to absorb the additional transaction cost and that some of the burden might ultimately feed into retail prices.

The National Payments Corporation of India has said the revised framework will apply to specified person-to-merchant UPI payments above Rs 2,000. The fee will be borne by merchants rather than consumers and will be capped at Rs 300 for transactions of Rs 75,000 or more.

Person-to-person transfers, including payments between friends and family, will remain free. Merchant transactions up to Rs 2,000 will also continue without MDR, while small merchants receiving up to Rs 1 lakh a month through UPI QR payments are exempt under the framework.

Specified categories including railway tickets, fuel, agriculture, utilities, telecom, insurance, credit-card dues and tax payments will attract a lower flat charge of Rs 5 on eligible transactions above Rs 2,000. The government has also advised banks to ensure that merchants do not directly pass the MDR on to customers.

The opposition from Khandelwal adds to broader concern among traders over the return of merchant charges to UPI after more than six years of a zero-MDR regime. A nationwide LocalCircles survey of more than 32,000 merchants and businesses across 242 districts found that only 17 per cent of respondents were willing to bear a 0.4 per cent MDR on payments above Rs 2,000, while 41 per cent said they were unwilling to pay any such fee.

Merchants have raised particular concerns about sectors where high-value digital payments are common but margins are comparatively narrow. Textile traders in Surat, for example, said the levy could affect smaller businesses and workers who use UPI extensively for salaries, purchases and other routine transactions.

The policy change also marks a significant shift in the economics of the UPI ecosystem. Banks, payment applications and payment aggregators have long argued that the rapid expansion of transaction volumes requires greater spending on infrastructure, fraud prevention, cyber security and system capacity. The new MDR is intended to create a revenue stream to support those costs while keeping small-value and personal transfers outside the charging structure.

UPI has become the dominant retail digital payment system, with billions of transactions processed every month. That scale has increased the cost of maintaining the network even as users have become accustomed to making payments without a visible transaction fee.

The government’s approach seeks to confine the charge to larger commercial payments and to limit the exposure of small merchants and customers. Under the announced structure, a Rs 5,000 eligible merchant payment would carry an MDR of Rs 20, while a Rs 50,000 payment would cost the merchant Rs 200. Payments of Rs 75,000 and above would face the Rs 300 ceiling.

Khandelwal’s intervention puts the focus on whether traders will accept those costs or seek alternatives such as cash, bank transfers or other payment methods. His position is that even a small percentage charge, when repeated across large transaction volumes, can become a meaningful operating expense.

The dispute is likely to centre on merchant margins, enforcement and whether businesses can absorb the levy without changing prices or payment preferences. Traders also want clarity on how exemptions will be identified at the point of payment, particularly where a business accepts UPI through multiple bank accounts, QR codes or payment service providers across different locations.

Press Conference: For Greener Cities, NOW!

On Press Day, 14 September, JAC Motors held a press conference at its booth under the theme “For Greener Cities, NOW!,” presenting four electrified models to the European market. Partners, fleet operators, and trade media from Germany, France, Spain, Italy, Poland, and other countries attended.

At the press conference, Oscar Yu, General Manager of JAC International, stated that Europe is a key market in the company’s global expansion. JAC commercial vehicles are already present in Germany, Spain, France, Norway, Denmark, Sweden, and Switzerland, with a target of full European coverage by 2028. Since IAA Transportation 2024, JAC has established one subsidiary in Europe and built a localised marketing and service system covering 13 countries, including 8 regional strategic partners, over 50 authorised sales outlets, and more than 100 after-sales service outlets. In Spain, JAC holds a 41% market share in the medium-duty electric truck segment, ranking first. (Source: Spanish Directorate-General for Traffic (DGT) registration data, Jan–Jun 2026.)

The solutions JAC offers European customers go beyond the vehicles themselves. JAC’s subsidiary in Italy serves as a regional parts centre, covering warehousing, service and technical support, customer operations, and marketing. On financing, JAC has partnered with Santander and others to offer finance leasing, operating leasing, PCP (Personal Contract Purchase)/TCM (Trade Cycle Management), and flexible instalment plans, covering needs from fleets to individual users. On complete vehicle solutions, JAC works with bodybuilder partners such as Infore Environment to cover refrigerated transport, municipal sanitation, rescue, and other specialist applications.

The press conference also showcased JAC’s progress in Europe: JAC Motors Italy is now operational, the German dealer network is taking shape, and the parts logistics system already covers all of Germany. As JAC’s European business gradually moves from building its footprint to day-to-day operations, the atmosphere of conversations at this year’s booth has changed noticeably compared with 2024. Conversations at the booth now go straight to operations: Is the range enough? How long does charging take? Can this vehicle save the fleet money?

Looking ahead, JAC will continue to advance product introduction and channel expansion, targeting full coverage of the European market by 2028, participating in Europe’s urban green logistics transition with a complete electrified product portfolio and localised service capabilities.

Hashtag: #JACMOTORS

The issuer is solely responsible for the content of this announcement.

The 2026-2030 plan, released on Wednesday, calls for an integrated gold ecosystem covering storage, trading, clearing, refining and related financial services, while encouraging more renminbi-denominated commodity products. The government said it would strengthen links with mainland exchanges and attract international investors as it develops the city’s role as a global offshore renminbi centre.

It describes gold as an asset and envisages a one-stop storage, trading and clearing centre.

The strategy gives formal five-year backing to a gold-market expansion already under way. Hong Kong began trial operations of a central clearing and settlement system for gold in July and plans to launch the system formally in the first quarter of 2027. The administration is also seeking to expand storage capacity, improve refining capability and support more gold dealers and financial institutions in establishing operations in the city.

The plan says Hong Kong will explore renminbi-denominated gold and commodity markets and deepen co-operation with the Shanghai Gold Exchange and Shanghai Futures Exchange. It also aims to increase the range of products priced in the Chinese currency and encourage the use of renminbi for pricing and settlement in spot commodity transactions.

Chief Executive John Lee’s administration has framed the programme as part of a broader effort to strengthen Hong Kong’s position as an international financial centre while aligning more closely with China’s national development priorities. The five-year plan also seeks to enlarge the city’s offshore renminbi business, improve liquidity support and expand the range of renminbi bonds and other financial products.

Hong Kong remains the world’s largest offshore renminbi market. The government said offshore renminbi lending reached a record 935 billion yuan in 2025, while renminbi bond issuance reached 1 trillion yuan for a second consecutive year. The new plan proposes a dedicated offshore renminbi liquidity provision mechanism and wider use of the currency in trade, investment, financing and government expenditure.

Gold is intended to provide the first platform for a wider commodities push. The government said Hong Kong would use its status as an approved delivery point in the London Metal Exchange’s global warehousing network to develop trading, risk-management and financing services across additional commodities.

Since Hong Kong joined the LME warehousing network in 2025, approved storage space has exceeded 60,000 square metres and metal inventories have risen above 20,000 tonnes, according to the government. Authorities plan to facilitate more LME-approved warehouses in the Northern Metropolis and introduce a half-rate tax concession for physical commodity trading to attract additional market participants.

The Hong Kong Exchanges and Clearing group also plans to announce details this year for new renminbi-denominated, physically settled gold futures contracts. The government said the contracts are intended to strengthen the currency’s role in precious-metal pricing and provide another channel for international investors to gain renminbi exposure.

Other measures include possible tax concessions for qualifying gold and commodity activities, additional insurance capacity for gold storage and trading, and support for an industry-led trade association. Officials are also examining tokenised warehouse-receipt financing and blockchain-based systems that would allow commodity inventories to be used more flexibly as collateral.

The administration has set a target of lifting Hong Kong’s gold storage capacity to more than 2,000 tonnes within three years. It is also encouraging internationally qualified refiners to establish or expand local operations, with government agencies assisting interested companies in identifying sites and navigating regulatory requirements.

Closer integration with mainland markets is another element of the strategy. The plan calls for wider market access between Hong Kong and mainland gold markets and further collaboration with the Qianhai Mercantile Exchange, including development of renminbi-settled commodity futures, options and spot products.

The regulatory relaxation allows fund managers more room to adjust the cash and futures legs of arbitrage trades while participating in the Closing Auction Session, people familiar with the change said. The move is intended to encourage funds that collectively manage a large pool of equity-linked assets to place orders in the auction rather than largely completing transactions beforehand.

The change addresses a central weakness that has emerged since the auction system was introduced on August 3 for shares with futures and options contracts. Trading during the closing window has at times been thin, leaving prices vulnerable to sharp moves when large buy or sell orders enter a relatively shallow order book.

Arbitrage funds are viewed as a potentially important source of balancing liquidity because they hold shares in the cash market while maintaining offsetting short positions in futures. That structure can enable them to sell stock when the closing auction is dominated by buyers, or buy when supply is heavy, without necessarily taking a directional market view.

SEBI has not issued a public circular detailing the latest operational flexibility. Existing mutual-fund rules require arbitrage schemes to maintain at least 65% of assets in equity and equity-related instruments, while their strategy is built around offsetting positions designed to capture differences between cash and derivatives prices.

The regulator’s intervention comes as it separately reviews the mechanics of the Closing Auction Session after volatile expiry-day moves raised concerns over price discovery and derivatives settlement. A consultation paper issued on September 12 proposed changes to the way settlement prices are determined when futures and options expire.

One option under consideration would blend the volume-weighted average price from the final 30 minutes of continuous trading with prices established in the closing auction. Another would temporarily retain the earlier 30-minute volume-weighted average methodology for derivatives settlement while the auction develops deeper liquidity.

SEBI has also proposed restrictions on order cancellations outside a specified range around the reference price, a shorter post-auction derivatives trading window and changes to the publication of indicative index closing levels during the auction. Public comments on those proposals are open until October 3.

The Closing Auction Session replaced the previous method of setting closing prices for eligible stocks through the volume-weighted average of trades during the last 30 minutes of normal trading. Under the new framework, eligible cash-market stocks move into an auction process late in the session, while equity derivatives continue trading until 3.40 pm.

The auction is intended to concentrate end-of-day orders and produce a closing price based on the level at which the greatest quantity of shares can be matched. Similar mechanisms are used in several major global markets, particularly for large institutional orders and benchmark-tracking flows.

Early trading under the system, however, produced unusually wide gaps between cash-market closing prices and futures values on some days. Those differences caused sharp one-day movements in the net asset values of arbitrage funds because the cash and derivatives legs of their portfolios were marked using prices generated under different trading conditions.

Fund managers and market participants have argued that broader institutional participation is essential if the auction is to deliver stable price discovery. Arbitrage funds, with assets of roughly ₹3.5 trillion according to industry estimates, represent one of the largest pools capable of supplying two-way liquidity without relying on outright directional bets.

The mutual-fund industry has also examined changes to futures valuation that would better align derivatives prices with the auction-determined cash close. One proposal would derive a theoretical futures closing value from the final cash-market price and the prevailing cash-futures spread, reducing temporary valuation mismatches in arbitrage portfolios.

Foreign Ministry spokesman Guo Jiakun said on Monday that artificial intelligence was a consequential technology for humanity and should be developed openly and inclusively. Asked about calls from Dario Amodei, Sam Altman and Elon Musk for companies to slow frontier development, Guo warned that “fear-mongering, confrontation and vicious competition” would hinder sound global AI governance.

The response came as Washington’s debate over AI safety widened into a strategic argument about China. Anthropic chief executive Amodei has urged tougher safeguards for advanced systems and has argued that a Chinese lead in frontier AI could create national security risks for the United States. OpenAI chief executive Altman and Musk have also called for stronger precautions as systems become more capable.

Trump, however, has resisted proposals that could materially slow US development. He said this week that America already had tools to police the industry and stressed the importance of maintaining leadership over China. House Speaker Mike Johnson similarly rejected a moratorium, saying any pause could hand Beijing a competitive advantage and create national security risks.

The dispute places AI governance among the issues likely to shadow the Trump-Xi meeting scheduled for September 24 in Washington. The leaders are also expected to confront trade disputes, semiconductor restrictions and China’s controls on rare-earth exports, all of which affect the broader contest over computing capacity and advanced manufacturing.

Treasury Secretary Scott Bessent is due to meet Vice-Premier He Lifeng before the summit.

China has presented a different framework for AI governance, emphasising access, development and multilateral rules while opposing measures it regards as technological containment. At the BRICS summit this month, Xi proposed an open-source and inclusive AI initiative and said China would help establish a BRICS AI open-source community and digital ecosystem platform.

Beijing has nevertheless acknowledged the risks posed by increasingly powerful systems. Chinese officials have called for stronger global governance and risk awareness, while arguing that safety should not become a justification for blocking technological diffusion. The government has also supported the establishment of the World Artificial Intelligence Cooperation Organization, whose founding agreement was signed in Shanghai in July by 29 countries.

The argument over safety is closely linked to semiconductor controls. Washington has maintained restrictions on the export of advanced computing technology to China, although the Commerce Department in January shifted applications for Nvidia H200, AMD MI325X and comparable chips to case-by-case review under specified security conditions. Beijing has repeatedly criticised US technology restrictions as discriminatory and has threatened countermeasures when Chinese companies are targeted.

China’s Commerce Ministry last week also challenged a US cybersecurity advisory accusing China-based AI companies of using distillation campaigns against American models. The ministry said China was prepared for an intergovernmental AI dialogue with the United States but would respond if Washington used such allegations to suppress Chinese firms.

That exchange underscored the difficulty of separating AI safety from the strategic rivalry. US officials and technology executives increasingly frame advanced models as both commercial assets and national security capabilities, while China portrays broad restrictions as attempts to preserve US dominance.

There are areas of overlap. Both governments have said advanced AI presents risks requiring governance, and the two sides have agreed to launch an intergovernmental dialogue on the technology. Informal discussions among researchers and policy specialists have also continued, though official positions remain far apart on access to chips, model controls and the balance between safety and development.

The September 24 summit follows Trump’s May visit to China, when the two leaders agreed to pursue what the White House described as strategic stability and set up new bilateral trade and investment mechanisms. Artificial intelligence was not the centrepiece of those agreements, but it has since moved higher on the bilateral agenda as concerns over model capabilities, export controls and industrial competition have intensified.

• Launched in H1 2026, Heavy Weight Express service saw a 16% increase in Weight per Day growth for the region (excluding China)
• High-value, technology-related cargo, engineering & manufacturing, and automotive are the biggest drivers, making up two-thirds of the total weight of heavyweight segment

SINGAPORE – Media OutReach Newswire – 16 September 2026 – Following DHL Express’s introduction of Heavy Weight Express (HWX) this year, DHL Express recorded a 16% growth in its Time Definite International Weight per Day in Asia Pacific (excluding China) between January and July2026. This reflects how DHL’s Smart Industrial Growth Strategy is yielding positive outcomes as businesses are moving heavier, critical components, machinery, and industrial equipment across borders.

The heavyweight market has been gaining traction in recent years. Industry research shows that an estimated 10.2 million tons of heavyweight shipments¹ are being moved in Asia Pacific (excluding China) each year. Many companies have spent years reducing inventory and improving efficiency across their supply chains. However, companies today operate in a far less predictable environment marked by trade disruptions, manufacturing bottlenecks, and fluctuating demand. The rise in heavyweight shipment volumes mirrors a shift in how businesses are managing supply chain risks, as they increasingly turn to express logistics not only to handle sudden shifts in demand but also to have greater agility, certainty and control over timelines.

“Behind the numbers is a simple reality: Businesses are shipping heavy when timing matters and when it’s critical,” said Ken Lee, CEO for Asia Pacific, DHL Express. “As companies continue to navigate a complex landscape where uncertainty has become the norm, speed and reliability have also become part of the business decision. Customers are making deliberate decisions on what they ship through our network. Our Heavy Weight Express solution helps companies avoid downtime, protect working capital and keep operations moving when supply chains don’t go exactly as planned.”

Technology, Engineering & Manufacturing, and Automotive top Asia Pacific’s heavyweight contributors

Across the region, high-value, technology-related cargo, such as computer chips and semiconductors, accounts for the largest share of DHL Express’s heavyweight segment at over 34%, driven by rapid investment in data centers to support the growing demandfor computing capacity, data storage, cloud services, as well as artificial intelligence. This has fueled demand for technology-related shipments, from semiconductors and servers to cooling systems and electrical infrastructure. However, a data center crunch is creating supply chain bottlenecks as demand for semiconductor manufacturing outpaces infrastructure supply. As a result, express logistics services are urgently activated to move critical components quickly and efficiently, helping to keep projects on schedule.

The other main contributors to the heavyweight segment are businesses in engineering & manufacturing as well as the automotive industry.

Automotive is the fastest growing sector

HWX service is also gaining strong momentum in the automotive sector, with its shipment weight increasing at a rate of nearly 20%. As the leading export region for this sector, Asia Pacific is also seeing a surge in Asian automotive brands, particularly Electric Vehicle (EV) manufacturers from China and Southeast Asia. As these brands expand into new markets, they are also moving vehicle parts sourced from different suppliers and manufacturers across borders. This has created the appetite for expedited shipments to keep production running. In this sector, a single late or failed shipment could instantly cost automotive manufacturers millions of dollars.

Asia affirms role as a vital trading hub

In Asia Pacific (excluding China), the fastest growth in heavyweight shipments for the first seven months of the year came from India, the Philippines, Vietnam, Japan and Hong Kong. These markets reflect two of the region’s strongest trade corridors – Southeast Asia’s firm role as a manufacturing and sourcing base, and North Asia’s strategic position as a hub for high-value technology, industrial and automotive supply chains. Additionally, India, the Philippines, and Vietnam are also recognized as key markets of the geographic tailwinds initiative.

“As companies continue to manufacture out of Asia, balancing project timelines and building more resilient and agile supply chains become a priority. To maintain production continuity and ensure certainty, they are consolidating goods into heavier shipments. These non-negotiable conditions are also “urgency drivers” that put us at an advantage to help deliver our customers’ shipments at a definite time,” said Ken Lee, CEO for Asia Pacific, DHL Express.

In recent years, DHL Express has added several new infrastructures across the region, including an expanded global hub in Hong Kong, facilities near Cebu and Manila airports, gateway at Christchurch airport, Hanoi gateway near Noi Bai airport, as well as Delhi gateway, culminating in approximately 1,000 facilities in the Asia Pacific region. This is further supported by a robust aviation network of around 810 flights per day.

¹McKinsey/IHS Markit (2024)
Hashtag: #DHLExpress #GlobalTrade #HeavyWeightExpress

The issuer is solely responsible for the content of this announcement.

DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivaled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With approximately 389,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

DHL is part of DHL Group. The Group generated revenues of approximately 82.9 billion euros in 2025. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.

By TN Ashok The 18th BRICS Summit, held at Bharat Mandapam in New Delhi on September 12–13, 2026, was never going to escape Washington’s shadow — and it didn’t. Even as Prime Minister Narendra Modi steered eleven member states toward a unanimously adopted New Delhi Declaration that pointedly avoided naming the United States, President Donald […]

The article India steers 18th BRICS summit deftly, keeps anti-West rhetoric at bay appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Chinese President Xi Jinping used the 18th BRICS Summit to argue that countries should pursue development paths suited to their own national conditions, a message that overlapped with the summit’s broader emphasis on policy autonomy, inclusive growth and reform of global institutions.

Addressing the first leaders’ session on September 12, Xi marked 20 years of BRICS cooperation and said members had strengthened themselves through unity while preserving independence in choosing their economic and social models. He described BRICS as an increasingly important platform for emerging markets and developing countries.

The summit’s New Delhi Declaration gave that theme wider institutional form. Leaders called for a more representative international order, greater participation by developing countries in global decision-making and reforms to institutions including the United Nations, World Trade Organization and international financial architecture.

The declaration also reflected the diversity within the expanded grouping. Rather than prescribing a single model of development, BRICS leaders stressed national circumstances, differing capacities and the need for policy space, particularly in areas such as energy transition, industrialisation and climate action. That approach broadly matched Xi’s argument that development strategies should reflect domestic conditions rather than external templates.

Xi sought to extend the idea into technology policy. He proposed an initiative on artificial intelligence-enabled industrialisation, deeper cooperation in research and applications, and stronger industrial and supply-chain links. China also promoted open-source AI collaboration and international platforms intended to improve access to emerging technologies for developing economies.

Other leaders framed similar priorities through their own national perspectives. Prime Minister Narendra Modi emphasised resilience, innovation, cooperation and sustainability, the four themes of India’s 2026 BRICS chairship, and called for solutions developed within the grouping to serve a wider range of developing countries. He also urged members to translate summit commitments into practical programmes.

BRICS members agreed on measures spanning digital cooperation, food and energy security, health, trade facilitation and the use of local currencies in cross-border transactions. The declaration supported stronger payment connectivity while stopping short of endorsing a common BRICS currency.

The economic agenda also underlined the practical test facing the grouping. Members backed use of national currencies in trade and investment, stronger cooperation through the New Development Bank and efforts to improve financial resilience. Such measures are intended to widen financing options for developing economies without committing members to a single monetary framework or common currency.

The expanded bloc now brings together countries with sharply different political systems, strategic alignments and economic structures. That breadth gives BRICS a larger claim to represent developing-country concerns, but it also limits how far members can converge on detailed policy prescriptions. Analysts have noted differences over whether the group should remain primarily an economic and development forum or assume a stronger geopolitical role.

Those tensions were visible alongside the development agenda. Leaders opposed protectionism and unilateral economic measures, supported a stronger multilateral trading system and called for reforms that would increase the voice of developing countries. At the same time, members avoided turning the summit into a unified ideological platform, relying instead on consensus language broad enough to accommodate competing interests.

Xi’s second summit intervention on September 13 placed a “people-centred” development philosophy within a wider call for Global South cooperation. He urged progress on the UN Sustainable Development Goals, improvements to global climate governance and a consensus-based framework for governing artificial intelligence.

China’s approach also carries strategic implications. Beijing has increasingly used BRICS and other multilateral forums to promote its views on development, sovereignty and global governance. Some members share its criticism of unequal representation in international institutions, while others remain cautious about allowing BRICS to become identified with any single country’s geopolitical agenda.

The BG-5 Golden Dragon Fish was demonstrated at the 2026 China International Fair for Trade in Services, held at Shougang Park from September 9 to 13. Developed by Boyagongdao Marine Technology Group, the robot is designed to resemble a golden arowana and propel itself through water with a flexible, multi-joint tail rather than a conventional propeller.

The machine can detect obstacles and adjust its route autonomously instead of following only a fixed, pre-programmed path, according to information released by the developer and statements made at the exhibition. Its fish-like movement is intended to improve manoeuvrability while giving the platform a less conspicuous profile than many conventional underwater vehicles.

Boyagongdao lists the BG-5 as a 640-millimetre-long robot weighing about 3 kilograms. The published specifications give it a maximum operating depth of 5 metres and a top speed of 0.6 metres per second. The company says infrared recognition supports autonomous obstacle avoidance, while wireless communications allow online debugging and control.

The manufacturer also offers a BG-5V configuration that combines the robotic fish with a software platform for more advanced experiments. The listed capabilities include global and local path planning, task allocation, formation control, cooperative transport and coordinated operations involving multiple robots.

Those functions broaden the possible uses beyond a single demonstration unit. Groups of small robotic fish could, in principle, divide an underwater area for inspection or monitoring, maintain formations and coordinate tasks in locations where larger vehicles would be harder to deploy. The company presents the platform for research and teaching as well as operational fields including search and salvage, hydropower, safety and rescue and national defence.

Claims that the robot has been formally deployed as an underwater surveillance system have not been substantiated by publicly available official information. The specifications and the developer’s stated defence-related work show that reconnaissance or monitoring applications are technically plausible, but the model displayed at CIFTIS was presented as a biomimetic robotic platform rather than as an announced military deployment.

Boyagongdao says its bionic robot series draws on more than a decade of research associated with Peking University’s College of Engineering. The systems use high-speed biomimetic drive mechanisms and central pattern generator control algorithms intended to reproduce the smooth, rhythmic movement of aquatic animals.

The company has also disclosed work on defence-oriented underwater technology. Its website says technologies developed for military-related directions have been adapted for higher education products, and company material from earlier exhibitions describes unmanned and intelligent underwater equipment as an area of military development. It has separately publicised the ROBO-SHARK, a larger shark-inspired underwater robot developed with a military unit.

The BG-5 itself is not a newly created model. Boyagongdao had displayed the robotic fish before this month’s services trade fair and promoted it earlier this year at Beijing technology events. The latest CIFTIS appearance nevertheless drew renewed attention because of the machine’s autonomous obstacle avoidance and increasingly realistic biomimetic movement.

China’s work on underwater robotics extends well beyond fish-shaped machines. Universities, research institutes and commercial groups are developing autonomous systems for coral monitoring, infrastructure inspection, marine ranching, emergency rescue and deep-sea research. Some platforms are designed to carry cameras, sonar or environmental sensors, while others use robotic arms for intervention tasks.

A separate ecological-monitoring deployment in Hangzhou has used biomimetic robotic fish to patrol West Lake, measuring indicators including water temperature and pH, detecting invasive species and transmitting data to monitoring centres. Other Chinese underwater robots have been used for reef observation and for identifying and removing crown-of-thorns starfish.

The BG-5 demonstration at CIFTIS focused on embodied intelligence underwater, where navigation software, sensing and propulsion are integrated into a machine that moves more like a living animal than a standard remotely operated vehicle.

The 256GB iPhone 18 Pro was listed on Pinduoduo at 9,099 yuan on Monday after platform and store incentives, compared with Apple’s official mainland China price of 9,999 yuan. The reduction is being funded through retailer subsidies and coupons rather than an official Apple price cut.

Pinduoduo’s offer combined a subsidised platform price with a 600-yuan store coupon, bringing the checkout cost to 9,099 yuan for eligible buyers. The listing indicated tens of thousands of orders and promised delivery by September 27, although availability and coupon access could change as the promotion continued.

Apple’s own online store and official channels continued to show the iPhone 18 Pro at the full 9,999-yuan starting price. Apple’s flagship store on Tmall was also focused on interest-free instalments rather than a direct reduction, while some other sellers were offering smaller incentives or trade-in-linked benefits.

Prices elsewhere were less aggressive. JD continued to display the 256GB model at 9,999 yuan when checked on Monday, while some Taobao offers relied on operator benefits, renewal subsidies or trade-in incentives. The variation showed that the headline reduction was not a uniform market-wide repricing of Apple’s newest Pro handset.

The early discount comes after Apple opened pre-orders in mainland China at 8pm on September 12. The iPhone 18 Pro and iPhone 18 Pro Max are due to go on general sale on September 18, placing the retailer promotion several days ahead of the formal release.

Demand signals were mixed across sales channels. Several configurations became harder to obtain shortly after pre-orders opened, with delivery estimates for some iPhone 18 Pro and Pro Max variants moving into late September or early October. That makes the appearance of a 900-yuan discount notable, but it does not by itself establish weak demand for the range.

Apple priced the iPhone 18 Pro from 9,999 yuan in China, while the iPhone 18 Pro Max starts at 10,999 yuan. Both models begin with 256GB of storage and are offered in 512GB, 1TB and 2TB versions. Apple is selling the phones in black, silver, glacier blue and burgundy.

The company unveiled the Pro models on September 9, introducing its A20 Pro processor and a 48-megapixel Fusion main camera with variable aperture. Apple has also highlighted improved battery life, upgraded on-device artificial intelligence performance and changes to the camera system as central features of the new generation.

The pricing move underscores the intensity of competition among China’s major e-commerce platforms during high-profile smartphone launches. Retailers commonly use flagship electronics to attract traffic, deploying platform subsidies, limited-time coupons and payment incentives that can push transaction prices below manufacturers’ official levels without altering the recommended retail price.

A similar pattern has appeared around earlier iPhone launches, when large platforms subsidised new models soon after pre-orders or sales began. Such promotions can narrow the gap between Apple’s premium positioning and the prices of competing high-end phones, while also giving platforms a way to compete for customers during launch periods.

The structure of Monday’s offer is therefore important. Buyers were not receiving a 900-yuan reduction directly from Apple. The lower price depended on incentives available through the retailer, and the final amount could vary according to coupon eligibility, payment method, membership status and stock.

Apple separately offers trade-in credits in China for customers exchanging eligible older iPhones. Its official programme provides credits ranging from 900 yuan to 8,300 yuan for qualifying devices, but those values depend on the model and condition of the handset being traded and are distinct from the retailer discount on a new iPhone 18 Pro.