Shares of Chinese electricity and grid equipment makers surged after State Grid unveiled a 4 trillion yuan (US$574 billion) plan to upgrade the country’s power networks, as surging demand and the global race in artificial intelligence drive investment in energy infrastructure. Baoding Tianwei Baobian Electric, which makes transformers, climbed 4.6 per cent to 14.50 yuan in Shanghai and power equipment manufacturer Henan Pinggao Electric jumped 4.8 per cent to 20.83 yuan. Suzhou Electrical... Economics
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Hong Kong’s finance chief has pledged to further integrate financial services with technology innovation to foster a thriving ecosystem, following a surge in investor interest in artificial intelligence-related stocks during the first trading day of the year. Financial Secretary Paul Chan Mo-po on Sunday also emphasised Hong Kong’s role as an international capital market in fuelling the growth of frontier mainland Chinese tech firms with the city’s funding and liquidity. “We welcome these... Politics
Hong Kong’s finance chief has pledged to further integrate financial services with technology innovation to foster a thriving ecosystem, following a surge in investor interest in artificial intelligence-related stocks during the first trading day of the year. Financial Secretary Paul Chan Mo-po also stressed on Sunday the importance of Hong Kong’s role as an international capital market in fuelling the growth of mainland China’s frontier tech firms using the city’s funding and liquidity. “We... Politics
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