China's State Administration for Market Regulation (SAMR) has released draft guidelines with 28 provisions aimed at regulating the fees charged by online platforms to third-party merchants. The proposals seek to reduce operational burdens on small and medium-sized enterprises (SMEs), standardize fee practices, and improve transparency across the platform economy, which includes tens of millions of online businesses and over 900 million consumers. The draft rules, unveiled during the annual 618 shopping festival, address issues such as duplicate charges, forced participation in paid promotions, and other practices deemed unfair by merchants. Platforms would be required to display fee structures prominently and allow public discussion before any rule changes. The guidelines are currently open for public consultation. Meituan, a leading on-demand services provider, reported first-quarter 2025 revenue of RMB 86.6 billion (USD 12.2 billion), up 18% year-on-year, and adjusted net profit of RMB 10.95 billion (USD 1.5 billion), a 46% increase. The company's profit for the period jumped 87.3% to RMB 10.1 billion (USD 1.42 billion). Meituan's operating margin expanded to 12.2%, and R&D spending reached RMB 5.8 billion, up 15% year-on-year. Meituan Instashopping and Keeta expanded rapidly, with Keeta set to launch in Brazil backed by a USD 1 billion investment over five years. The company also pledged RMB 100 billion over three years to support industry-wide upgrades. Despite strong results, Meituan and JD.com have seen a combined $100 billion drop in market value since late 2024, reflecting concerns over the cost of competition and potential regulatory impacts. Meituan's 618 campaign will begin soon, and the company continues to invest in AI, logistics, and new initiatives. In the technology sector, Xiaomi reported record first-quarter revenue of RMB 111.3 billion (USD 15.5 billion), up 47% year-on-year, and adjusted net profit of RMB 10.7 billion (USD 1.5 billion), a 65% increase. Xiaomi's gross margin for smart EV, AI, and new initiatives reached 23.2%. The company's electric vehicle (EV) business generated RMB 18.1 billion in revenue, delivering 75,869 SU7 sedans in the quarter, with an adjusted net loss of RMB 0.5 billion for its EV and new initiatives. Xiaomi also launched its new electric SUV, the YU7, which will go on sale in July and is priced at a premium over Tesla's Model Y. Xiaomi shipped 41.8 million smartphones in the quarter, achieving a global market share of 14.1%, and its market value reached $170 billion. Kuaishou Technology, a major short video platform, reported first-quarter revenue of RMB 32.6 billion (USD 4.5 billion), up 10.9% year-on-year, and adjusted net profit of RMB 4.5 billion (USD 636 million), with Q1 net income at RMB 3.98 billion.