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Tag: China

China's Ant Group launches AI finance model
News Tech

China’s Ant Group launches AI finance model

Ant Group on Friday, revealed a finance-specific artificial intelligence model, and testing of consumer and business apps for the product has already begun. Established by billionaire Jack Ma, Ant is China’s largest fintech company and has more than 1 billion users worldwide for its Alipay payment system, the company’s debut into financial AI is noteworthy. […]

Tencent launches upgraded T1 AI model, boosts China’s AI race
News Tech

Chinese IT giant Tencent launches AI model

Tencent Holdings said on Thursday companies could now use its large language artificial intelligence model “Hunyuan”. The Chinese tech giant and owner of the WeChat social media platform conducted a demonstration before a live audience at a conference in Shenzhen, and said Hunyuan had become the foundation of more than 50 of its products and […]

France approves Apple’s iPhone 12 update
News

China bans govt employees from iPhones at work

The Wall Street Journal reported on Wednesday that China has instructed its government officials to stop using Apple iPhones and other foreign-branded cell phones for official functions. This action follows limits on technology that Western nations have placed on Chinese tech companies. Beijing’s main goal is to tighten information security regulations, while domestic businesses want to […]

France approves Apple’s iPhone 12 update
News Tech

China bans iPhone use at central government offices

China has ordered officials at central government officials to refrain from using Apple iPhones and other foreign-branded smartphones for work, The Wall Street Journal reported on Wednesday. It was unclear how broadly the orders were being disseminated after government heads recently gave the directions to their subordinates. China has implemented new legislation and compliance standards […]

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 […]

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