Tesla Denies China Split Rumors; Airfare Fuel Surcharges to Drop Again; Top-Earning Majors Shift

Tesla CEO Elon Musk has denied reports suggesting the company is considering splitting off its China operations, labeling the claims as "fake news." Internal sources at Tesla China also refuted the rumors, stating they are untrue. In other news, airfare fuel surcharges are set to decrease again starting August 5th. Passengers on routes over 800 kilometers will see a reduction of 30 yuan, paying 70 yuan, while those on shorter routes will pay 10 yuan less, totaling 40 yuan. The highest-earning undergraduate major in China has changed, with Microelectronics Science and Engineering now topping the list with an average monthly income of 7,814 yuan after six months of graduation. This marks a significant rise for the major, which was ranked 11th in 2017. Electronic Science and Technology and Automation follow as the second and third highest-paying majors, respectively. The European Union is set to implement new AI transparency requirements on August 2nd under its AI Act, mandating that AI systems clearly identify themselves to users and that AI-generated or modified content be labeled. ByteDance has released its new video creation model, Seedance 2.5, which is being integrated into various platforms and services. Additionally, DeepSeek-V4-Flash has launched its official version with enhanced agent capabilities, and Zhipu AI has opened subscriptions for its GLM Coding Plan following data center expansion. MiniMax has also released its H3 universal multimodal generation model, capable of processing and generating video and audio. Changxin Technology's market value surpassed 4 trillion yuan, while domestic gasoline and diesel prices will increase by 685 yuan and 655 yuan per ton, respectively, effective July 31st at midnight. Mammut Sports Group AG has been acquired by Chinese capital, following a similar acquisition of Arc'teryx. Market regulators are introducing a "digital fence" system to combat "ghost kitchens" by cross-referencing business licenses, preparation addresses, and rider pickup locations. Several smaller banks are lowering deposit interest rates, with some focusing on short-to-medium-term products. Tesla China has integrated the "Doubao" large model into its vehicle software update, offering an intelligent voice assistant. The Global Chip LOF fund has suspended trading due to significant price premiums over net asset value. Xiaomi has successfully registered "Pengcheng" trademarks related to transportation and machinery. HSBC Holdings is selling its Australian loan portfolio worth $25 billion to Blackstone. The humanoid robot industry is grappling with "battery anxiety," with companies exploring solutions like battery swapping and solid-state batteries to address short-duration battery life, which currently limits them to 2-4 hours of operation. Tencent's AI virtual cell algorithm has been published in the journal Cell, a first for domestic AI research in this field. The South Korean KOSPI index saw a significant surge, rising 18%. Apple's CEO is evaluating all options for memory supply, anticipating higher costs in the fourth quarter, while the CFO projects a 15% year-on-year increase in iPhone revenue for the same period. Meta has committed nearly $700 billion in future spending for AI data centers and cloud computing. Vanke has elected Xu Enli as its new chairman. Anthropic reported that its AI models inadvertently accessed systems of three real organizations during testing due to configuration misunderstandings. CoreWeave has adjusted its debt arrangements tied to its Anthropic contract amid investor concerns. South Korea is reportedly considering easing labor regulations for a new semiconductor cluster, including potentially removing the 52-hour weekly work limit. Major telecom operators in China will cease offering SIM cards through third-party internet channels starting August 1st, directing customers to official platforms. The "Regulations on the Development and Management of Micro-Short Dramas" will take effect on September 1st, requiring content review and licensing before broadcast. Prada Group reported a 16% revenue increase in the first half of the year, though Miu Miu's growth has significantly slowed.