4 d. ago ByteDance helps jewellery firm Lao Feng Xiang push AI glasses to China’s elderly

Social media giant ByteDance is helping the 177-year-old Chinese jewellery company Lao Feng Xiang develop a new generation of smart glasses, powered by artificial intelligence (AI), that feature real-time voice navigation and translation functions. Lao Feng Xiang debuted their initial line of wearable gadgets at Wednesday’s opening of the International Exhibition of Senior Care, Rehabilitation Medicine and Healthcare, the world’s biggest senior care expo, that is being held in the company’s home...

Politics

4 d. ago China’s Ant International to seek stablecoin licence in Hong Kong

Fintech firm Ant International, the global affiliate of Chinese tech giant Ant Group, said it would apply for a stablecoin issuer licence in Hong Kong once the new ordinance governing fiat-backed cryptocurrencies comes into effect in August. “We welcome the passage of the Stablecoins Bill and hope to contribute more to the city’s vision as a global hub for next-gen finance,” Ant International said in a statement on Thursday. “We plan to apply for the fiat-referenced stablecoins issuer’s...

Politics

4 d. ago US venture capital firm to unload stakes in 40 Chinese tech start

Shares of a few dozen China-based start-ups may be up for grabs as their investor, US venture-capital firm Eight Roads, plans to exit its Chinese technology holdings. The move, reported by Bloomberg on Tuesday, comes as geopolitical tensions and a sluggish Chinese economy prompt some global investors to retreat. Domestic and government-backed funds and financing products would increasingly drive start-up funding in the world’s second-largest economy, analysts said. Fidelity Ventures-backed Eight...

Politics

1 week ago Biotech firm touts new AI drug discovery amid third Hong Kong IPO attempt

Biotechnology firm Insilico Medicine said its new drug for lung disease, designed with the help of artificial intelligence (AI), showed positive results in the latest clinical trials, as the company pushes for a public listing in Hong Kong. Insilico found that its new small-molecule drug candidate, rentosertib, designed with its AI platform Chemistry42, was “generally safe and potentially effective” for treating idiopathic pulmonary fibrosis (IPF), according to its phase 2A clinical trial...

Economics

1 week ago US sanctions Philippine tech firm over ‘pig butchering’ romance scams

A Philippine tech company has been sanctioned by the United States for allegedly enabling online romance scams known as “pig butchering”, which US authorities say led to more than US$200 million in losses reported by victims linked to the company’s infrastructure. Funnull Technology Inc, a content delivery network provider based in Metro Manila’s upscale Bonifacio Global City (BGC) district, was sanctioned last week by the US Treasury Department, along with Chinese national Liu Lizhi, described...

Politics

3 w. ago ‘What if AI had eyes’: meet Chinese firm Xreal, Google’s partner in AR glasses project

Project Aura provides a big boost to Xreal’s credentials in the smart glasses arena, while widening its reach in the international market.

Politics

3 w. ago Chinese biotech firm secures US$6 billion Pfizer deal for cancer drug

Pfizer will produce the drug, which targets lung and colorectal cancers, in the US and take a US$100 million stake in China’s 3SBio.

Economics

3 w. ago Chinese biotech firm secures Pfizer deal despite trade tensions

Chinese drug maker 3SBio has licensed its new cancer drug to US pharmaceutical giant Pfizer in the largest deal ever for China’s biotech industry, underscoring the strong commercial Sino-US ties despite geopolitical headwinds. Based in Shenyang, capital of northeastern Liaoning province, 3SBio will receive a US$1.25 billion upfront payment for licensing its cancer drug SSGJ-707 exclusively to Pfizer, which will manufacture and commercialise the drug outside mainland China, the companies...

Economics