The TRIaXplore Empowered by MGM 2025 event was successfully held at MGM Cotai from April 28 to 30, 2025. This unique and exclusive health focused forum highlighted knowledge and trends in the wellness industry, showcasing the growth potential in integrated health, wellness, and beauty.

The event was hosted by MGM and its award-winning spa brand, Tria Spa. Over two and a half days, the wellness event featured diverse and educational activities, gathering renowned brands and experts from France, Italy, New Zealand, Japan, Indonesia, Macau, China Hong Kong, and Mainland China. With facilitated training sessions, led certification workshops, and many talks, the event provided a dynamic platform for wellness professionals, students, and members of the general public to engage in face-to-face learning. Attendees gained access to the latest industry insights while experiencing hands-on wellness demonstrations centered on health, wellness and beauty and networking with cutting-edge skincare and equipment brands.

A highlight was the healing art experience Cocktail Party themed “Ink Painting & Elegant Tunes.” Guests enjoyed a live traditional Chinese painting experience demonstrated by renowned artists, accompanied by classical Chinese music. This event consisted of three sessions, each showcasing a distinct genre of traditional Chinese painting. Guests collaboratively created artworks of Chinese ink painting, leaving them with an unforgettable impression with this interactive experience.

Throughout the event, MGM Cotai showcased its signature hospitality with two-and-a-half-day agenda morning and afternoon tea breaks and nutritious buffet lunches, ensuring a memorable and enriching experience for all guests.

The TRlaXplore Empowered by MGM exemplified MGM’s commitment to advancing the health and beauty industry in the Asia-Pacific region. It highlighted MGM Cotai and MGM Macau Tria Spa’s dedication to fostering wellness while strengthening Macau’s rising status as a global hub for health and wellness, positioning it as a key emerging destination in this field.

JD.com has downsized its community group-buying offshoot Jingxi Pinpin for the second time this year, shutting up shop in Hubei and Shandong provinces as it struggles to break through in an industry dominated by Pinduoduo and Meituan, reports Caixin.

It comes after Jingxi Pinpin withdrew from several other provinces including Sichuan and Hebei in March. The firm cut around 15% of its workforce that month, a source at JD.com said.

Jingxi Pinpin launched in the form of a WeChat-embedded mini program on January 1, 2021, and peaked in March that year, when its services were available in as many as 17 provincial-level regions. It now only operates in Beijing and Zhengzhou, capital of Henan province.

Huawei Technologies is stepping up efforts to turn its vast pool of patents into revenue through licensing arrangements with domestic companies, as the telecommunications giant seeks to offset the effects of US sanctions, reports Nikkei Asia.

Huawei is communicating with domestic companies on patent licensing and expects to reach agreements in the near future, Fan Zhiyong, head of Huawei’s intellectual property rights department.

Over the past five years, more than 2 billion smartphones have been produced under licenses to Huawei’s 4G and 5G patents, Fan said Wednesday at an innovation forum at the company’s Shenzhen headquarters. About 8 million internet-connected vehicles using licensed Huawei technology are being delivered to consumers every year, he said.

ByteDance, the Chinese owner of the popular short video app TikTok, has seen its valuation drop by $100 billion over the past year to about $300 billion, according to sources and published deal offers, reports the South China Morning Post.

The latest valuation of the technology giant, whose plans to go public remain up in the air, is the result of an unannounced deal two months ago, according to a person involved in the transaction, who declined to be named because the deal is not public. It was valued at about $400 billion last year in private market deals.

The current valuation is on par with sales offers of ByteDance stakes published on Chinese tech media platform 36Kr. One stake posted to the site on June 1 values the company $320 billion, but it mentions that the price is “negotiable”. That deal was already $30 billion lower than the valuation given in an offer posted in February. The tips published by 36Kr do not disclose information about potential buyers or sellers.

More information and comments emerged this week about the “common prosperity” policy, aimed at creating a measure of wealth distribution to make Chinese society more equal. The government has basically decided, it seems, not to use taxation as a means of achieving this goal, and it is true that the rich can always find loopholes in tax laws and regulations. Instead, information emerged about what is called “Third Distribution” under which wealthy people and companies are encouraged to donate part of their assets to the great common prosperity pot. Philanthropy that is to one extent or another voluntary. But how much would be appropriate? It will be for the authorities to decide.

The initial reaction, as we sense it, of what we shall call the “upper middle class” is that they understand the motives of the policy, and there is concern about what it will mean for them in specific terms. So much of the wealth of these people in China is held in shares in listed companies, companies which will be required to make contributions impacting on bottom lines and therefore share prices and therefore wealth levels. One Chinese official was even moved to tell a news briefing that the purpose of the policy was not “killing the rich.”

More of the top private companies and their founders donated large sums to the pot. Many more will follow. This is a good policy to get out in front of. The question is how far the negative perceptions out there are actually going to become a reality. As of now, we don’t know.

Have a great weekend.