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Tag: China

Meta tests in-house AI chip to reduce reliance on Nvidia
News Tech

Meta links China with “Spamouflage” operation

Facebook’s parent company, Meta on Tuesday announced that it had discovered connections between members of the Chinese law enforcement community and the “Spamouflage” influence operation. According to a quarterly security report, the social media giant erased over 7,700 Facebook accounts, as well as hundreds of other pages, groups, and Instagram accounts linked to the campaign, […]

China's Evergrande files for bankruptcy in US
News

China’s Evergrande files for bankruptcy in US

Amid growing apprehension over China’s deepening property crisis and a weakening economy, embattled developer, China Evergrande Group has filed for bankruptcy protection in a U.S. court. This move marks a pivotal juncture in one of the world’s largest debt restructuring endeavors. Once renowned as China’s premier developer, Evergrande now stands as a symbol of the […]

Consumer spending drop over China’s economic difficulties
News Tech

Consumer spending drop over China’s economic difficulties

Consumer spending worldwide is expected to be at its lowest level since 2013 due to China’s economic difficulties. According to data from Counterpoint Research, the total number of smartphones scheduled to be shipped this year will drop by 6 percent to 1.15 billion units. According to the firm, economic challenges in China have reduced consumer […]

Chinese tech giants secure $5bn worth of Nvidia chip orders
Tech

Chinese tech giants secure $5bn worth of Nvidia chip orders

China’s leading internet giants are swiftly securing high-performance Nvidia chips crucial for developing generative artificial intelligence systems. Orders totaling $5 billion have been placed for these chips, as reported by the Financial Times on Wednesday. Companies such as Baidu, ByteDance (owner of TikTok), Tencent, and Alibaba have collectively made orders amounting to $1 billion to […]

China demands app developers to register with govt
News Tech

China demands app developers to register with govt

The Chinese Information Ministry has demanded that all mobile app developers register their companies with the government. The Ministry of Industry and Information Technology announced late on Tuesday that apps without correct filings will be punished after the grace period, which will end in March next year, has passed. Experts think this decision may limit […]

Global stock markets find balance amid European equities
News

Global stock markets find balance amid European equities

Global stock markets maintained a sense of equilibrium, with European equities showing resilience, particularly in response to Italy’s decision to allay concerns about a proposed bank profit tax. Meanwhile, the dollar experienced a slight decline as new economic data highlighted shifts in the Chinese economy. As Wall Street opened to mixed sentiments, the Nasdaq and […]

Binance records $90 billion Crypto trade in China amidst ban
Crypto

Binance records $90 billion Crypto trade in China amidst ban

The world’s largest cryptocurrency exchange, Binance, reportedly facilitated a staggering $90 billion worth of cryptocurrency trades in China. Meanwhile, crypto trading has been banned in China since 2021. The transactions, unveiled by the Wall Street Journal on Tuesday, were detailed in internal figures and confirmed by current and former Binance employees. Curiously, this bustling trading […]

China restricts drone equipment exports over US tech tension
News

China restricts drone equipment exports over US tech tension

China placed export limitations on selected drones and drone-related equipment on Monday, citing the need to protect “national security and interests” amid rising tensions with the US over technological access. According to Reuters, the Commerce Ministry announced that on September 1st, there would be limits on some drone engines, lasers, communication devices, and anti-drone systems. A ministry […]

Musk's Starlink challenges China's broadband satellite
Tech

Musk’s Starlink challenges China’s broadband satellite

China has unveiled its ambitious plan to launch thousands of satellites into low-Earth orbit, aiming to provide broadband internet services to millions of people worldwide. However, the project will face a formidable challenge from SpaceX’s Starlink, which already dominates the market with about 55% of functioning satellites in orbit. China’s broadband satellite project, known as […]

Chinese smartphone and electric vehicle manufacturer Xiaomi Corp is set to raise up to $5.27 billion through a top-up share placement. 
News Tech

Xiaomi to concentrate on retail to boost sales

China’s Xiaomi will concentrate on growing its retail sales in India, according to its India president after making significant bets on e-commerce for years. This is as the electronics giant tries to boost smartphone sales after slipping behind Samsung. With 600 million smartphone users, India is one of the fastest-growing marketplaces in the world. In […]

Chinese hackers hack US Commerce chief's emails
News Tech

Chinese hackers hack US Commerce chief’s emails

Secretary of the U.S. Department of Commerce, Gina Raimondo, has become one of several high-ranking Americans whose emails were compromised earlier this year by hackers that Microsoft claims is located in China. In a meeting with Wang Yi on Thursday in Jakarta, Secretary of State Antony Blinken made it clear that any action that targets […]

US, China demand pushes oil prices beyond $83pb
News

Why Microsoft claimed China hacked US government emails

Microsoft has reported that hackers based in China have gotten access to the email accounts of about 25 organizations, including governmental organizations. According to BBC, The software giant has not specified the locations of the government organizations. The secretary of commerce, Gina Raimondo, was reportedly one of those affected by the breach. According to a US Department […]

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