beijing

ByteDance leads China’s Big Tech sector in capital spending with US$11 billion for 2024

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ByteDance leads China’s Big Tech sector in capital spending with US billion for 2024

TikTok owner ByteDance was China’s biggest investor in technologies including artificial intelligence (AI) in 2024, with its outlay almost matching the combined spending of rivals Baidu, Alibaba Group Holding and Tencent Holdings, according to new research. Beijing-based ByteDance, founded by Chinese entrepreneur Zhang Yiming, invested an estimated 80 billion yuan (US$11 billion) on capital expenditure … Read more

My Take | With Nvidia antitrust probe, China hardens its stance towards US ‘AI partners’

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My Take | With Nvidia antitrust probe, China hardens its stance towards US ‘AI partners’

China’s decision to launch an antitrust probe into US semiconductor giant Nvidia over a US$6.9 billion acquisition of Israeli networking products and solutions provider Mellanox Technologies, which it approved five years ago, is raising questions about the message Beijing wants to send and what results it is trying to achieve. The high-profile probe could be … Read more

China’s top EV maker BYD kicks off robotics recruitment drive for young talent

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China’s top EV maker BYD kicks off robotics recruitment drive for young talent

China’s top electric vehicle maker BYD is conducting a new mass recruitment drive for robotics talent to staff its embodied intelligence (EI) unit, in a sign that the company is doubling down on robot-related research. The Shenzhen-based company posted a global recruitment ad on the Chinese social media platform WeChat, describing job openings for 10 … Read more

Political outlook turbulent for Taiwan after reform bills prompt brawls, protests

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Political outlook turbulent for Taiwan after reform bills prompt brawls, protests

Taiwan is bracing for more political turbulence after its opposition-controlled legislature passed a series of bills to sharply curtail the powers of the ruling Democratic Progressive Party (DPP). The controversial move, which triggered furious brawls in the Legislative Yuan and fierce protests by thousands of DPP supporters earlier this month, has raised speculation that the … Read more

China’s Xi Jinping calls on Politburo to lead by example in anti-corruption fight

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China’s Xi Jinping calls on Politburo to lead by example in anti-corruption fight

President Xi Jinping has urged the Communist Party’s top decision makers to boost self-discipline, and closely watch family members and subordinates as China continues its battle against corruption. In a speech to the Politburo on Friday, Xi said members must be strict both with themselves and with those around them, according to state news agency … Read more

China makes room for younger faces on middle rungs of Communist Party promotions ladder

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China makes room for younger faces on middle rungs of Communist Party promotions ladder

A slew of cadres in their early 50s clinched significant administrative positions with full ministerial rank this year, as China’s ruling Communist Party moves younger faces into mid-tier leadership positions. The latest to be promoted was Liu Jie, 54, who was made acting governor of Zhejiang in eastern China on December 18. Zhejiang is well-known … Read more

Tech war in 2024: China catches up fast in AI race, but US chip curbs cast shadow

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Tech war in 2024: China catches up fast in AI race, but US chip curbs cast shadow

Shi Yuxiang is eager to find out what the latest artificial intelligence (AI) technology has to offer in video-making. But with OpenAI’s long-awaited Sora video generation tool launching only earlier this month, the 34-year-old entertainment industry professional from Beijing has been experimenting with a wide range of Chinese alternatives. “Whenever there’s a new product release, … Read more

‘Old money’ look is hot in China as nouveau riche glitz gets the cold shoulder amid slump

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‘Old money’ look is hot in China as nouveau riche glitz gets the cold shoulder amid slump

Not many parts of China’s economy have been able to withstand the post-pandemic slump. The housing market remains in the doldrums and bank lending has shrivelled. Yet, the appeal of “old money fashion” has endured, even in the face of recession in consumer spending. Discussions on how to define the style, or how to dress … Read more

Chinese lawyer says she was pepper-sprayed by court officials when trying to observe case

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Chinese lawyer says she was pepper-sprayed by court officials when trying to observe case

Members of China’s legal community are shocked after lawyers were pepper-sprayed by court bailiffs as they tried to sit in on a landmark case involving local authorities suing a private company outside the area they govern. Guo Rui, a lawyer with Beijing Zhongwen Law Firm, said in a WeChat post on Thursday that she and … Read more

Chinese fintech giant Ant denies imminent restart of IPO process

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Chinese fintech giant Ant denies imminent restart of IPO process

Ant Group, the fintech affiliate of Alibaba Group Holding, said it had no immediate plans to revive its initial public offering (IPO), dispelling market speculation it would soon go public. The Chinese company shocked investors in November 2020 by cancelling its US$39.7 billion IPO in Hong Kong and Shanghai less than 48 hours before market … Read more