Xu Liang, an AI entrepreneur based in Hangzhou, eastern Zhejiang province, said it will not be long before China has similar services. “As soon as in the next one or two months, there will be Sora-like models coming out of the Chinese market and plenty in the next half year,”Continue Reading
“STABLE” ASSETS Gold jewellery was among the best-performing consumer goods in China last year, as the post-pandemic recovery lost its shine in the face of flagging domestic consumption and declining business confidence. A long-running property sector crisis and more recent stock market rout have further dented investors’ options. The marketContinue Reading
Mexico has been among the beneficiaries of the growing shift away from reliance on Chinese factories. But the picture is more complicated than it might seem. Some Chinese manufacturers have established factories in Mexico to exploit the benefits of the 3-year-old US-Mexico-Canada Trade Agreement, which allows for duty-free trade inContinue Reading
BEIJING: China has replaced the head of its securities regulator, according to the official Xinhua news agency on Wednesday ( Feb 7 ), as policymakers work to stabilize the nation’s main stock indexes following a drop to five-year lows. According to Xinhua, the cabinet replaced Yi Huiman as chairman ofContinue Reading
As part of additional efforts to reduce short-selling, China’s securities regulator announced on Tuesday ( Feb 6 ) that it would suspend brokerages from borrowing shares for lending and cap the size of so-called securities refinancing. The regulator vowed to crack down on illegal trade using short-selling and will alsoContinue Reading
BEIJING: China’s economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly ageing population, the International Monetary Fund (IMF) said Friday (Feb 2). The world’s second-largest economy last year saw some of its slowest growth in decades, as aContinue Reading
Zhu, who spent 28 years studying, living and working in the United States, left his professorship at UCLA in 2020 to establish BIGAI back in China. As a world-renowned scholar in the field of AI, his research areas include general artificial intelligence, computer vision and autonomous robots, among others. He has receivedContinue Reading
TOKYO: China overtook Japan as the world’s biggest vehicle exporter last year, data from the Japan Automobile Manufacturers Association (JAMA) showed Wednesday (Jan 31). Japan shipped 4.42 million vehicles in 2023, the figures showed. That compared with 4.91 million exported by China, as reported by the China Association of AutomobileContinue Reading
BEIJING: China’s manufacturing activity contracted for the fourth straight month in January, an official factory survey showed on Wednesday (Jan 31), suggesting the sprawling sector and the broader economy were struggling to regain momentum at the start of 2024. The official purchasing managers’ index (PMI) rose to 49.2 in JanuaryContinue Reading
A Hong Kong court ordered the liquidation of China Evergrande Group on Monday (Jan 29). Evergrande is the world’s most indebted real estate developer and has been at the centre of an unprecedented liquidity crisis in China’s property sector, which accounts for roughly a quarter of the world’s second-largest economy.Continue Reading