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The 2026 Lujiazui Forum focused on aligning financial services with technological innovation. By the end of the first quarter of 2026, 303,300 technology-oriented SMEs had obtained loans, a coverage rate of 50.4%. The outstanding loan balance in domestic and foreign currencies reached 4.03 trillion yuan, up 20.9% year on year.
Tax data in the first half of 2026 reflected a strengthening economy, with active business entities up 20.2% and tax revenue exceeding 10 trillion yuan, a 4.9% increase. Industrial sales rose 7.1%, and equipment investment surged 9.8%. High-tech and clean energy sectors registered strong growth. Personal income tax rose 13% to become the third-largest tax, with over 100 million taxpayers obtaining refunds exceeding 150 billion yuan. The tax bureau's crackdown on 'invoice economy' caused related invoices to fall 37.7%, and tax content per 100 yuan of invoices rose 13.7%. VAT revenue hit 3.87 trillion yuan, up 6%, as new general taxpayers jumped 25.2%. Smart tax services covered 85% of matters, cutting processing times by 20%; departure tourist refunds soared 366%.
In the first half of 2026, China's internet and software sectors posted steady revenue growth but diverging profit trends. Internet business revenue reached 1,067.5 billion RMB, up 10.1% year-on-year, while profit surged 16.6% to 98.99 billion RMB. Software revenue rose 9.5% to 7,718.2 billion RMB, but profit growth slowed to 1.0% at 899.9 billion RMB. Software exports grew 11.4% to 33.79 billion USD. R&D spending in the internet sector increased 14.1% to 59.55 billion RMB.
Hangzhou's six emerging tech startups, known as the 'Six Little Dragons,' all reached unicorn status (valuation over $1 billion) within a year. DeepSeek set a record for China's AI industry with a single funding round of over RMB 50 billion. Digital economy core industries accounted for 29.5% of Hangzhou's GDP in 2025. The city's innovation ecosystem includes major labs, incubators, and over half of Zhejiang's 96 'new tech little dragons' are based in Hangzhou.
A report by AI Forensics found that 7 of the 9 most popular image-editing models on Hugging Face generated sexualized deepfake images when prompted to undress subjects. A honeypot space set up to track requests received over 1,000 prompts in a week, of which 73% were sexual, 83% aimed to undress people, and 95% of victims were female. Nearly 7% of sexualized requests targeted children. The platform lacks effective safeguards.
Qi-Anxin has won a bid to supply its Tianqing Endpoint Security Response System (EDR) to a state-owned energy enterprise for a terminal security detection and protection project. The project will cover office terminals across the group, including both Xinchuang and non-Xinchuang environments. It aims to build a unified antivirus and EDR protection system, enabling centralized management, full threat awareness, and rapid response to defend against viruses, ransomware, and APT attacks.
Anthropic product designer Nate Parrott's side project Claude Design, a visual communication tool, has been officially adopted as a product. It surpassed 1 million users in its first week. The tool exports PDF, PPTX, HTML and integrates with Canva, Adobe, Gamma, and others. It is not an image generation model and requires users to import their own logos and brand assets.
Yuewen Group on July 7 launched Qidian Theater, a video app dedicated to IP-adapted series, focusing on premium short dramas and AI comic dramas. The app adopts a pay model combining ad unlocks and membership subscriptions, leveraging Yuewen’s vast IP library. Currently, 13 short dramas are available on the 'Editor’s Pick' channel and 6 on the 'Otherworldly Start-up Guide' channel. The platform also introduced an 'IP Wish Plan' where six novels have reached the required vote threshold for production. In 2026, Yuewen plans to launch no fewer than 200 short dramas.