63 m. ago Nike CEO Elliot Hill’s Turnaround Plan Hits a Roadblock In China

Nike CEO Elliot Hill’s Turnaround Plan Hits a Roadblock In China  observer.com

Events

2 h. ago Protection of vulnerable workers must be part of China’s AI strategy

Given the breakneck speed of technological and commercial developments across the world, China is perhaps one of only a few sovereign states with a comprehensive strategy on both artificial intelligence (AI) and robotics. The Chinese state philosophy in AI development is anchored in diffusion, as opposed to maximising the cutting-edge performance of select generative or reasoning models. While American and European investors are lured by the prospects of superintelligent and humanoid robots,...

Politics

7 h. ago Customers fill in to Beijing's new consumer robot shopping centre

Customers fill in to Beijing's new consumer robot shopping centre  France 24

Economics

9 h. ago TikTok seals US deal but core algorithm could still rattle ties with China

TikTok may have dodged a US ban but unresolved questions about its algorithm could remain a source of tension in the broader US-China relationship, according to analysts. ByteDance, the parent company of the social media site, signed a binding agreement this week to divest its US entity into a joint venture controlled by a consortium of American investors, ending years of legal and political uncertainties. TikTok CEO Shou Zi Chew said in an internal memo on Thursday that the deal effectively...

Technology

10 h. ago TikTok reaches new US deal; China’s answer to Nvidia’s A100: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. TikTok reaches deal on new US venture with American investor group In a landmark move that ends years of legal and political uncertainty, TikTok CEO Chew Shou Zi informed employees that the company has signed a binding agreement to divest its US entity into a joint venture controlled by a consortium of American investors. 2. Chinese team builds optical chip...

Politics

13 h. ago Why Chinese ‘ask rice’ divination ritual involves using 1,080 round grains

A mysterious and ancient tradition in China involves practitioners who try to predict the future and communicate with the spirit world via a ritual known as rice divination, or mun mai, in the south of the country. Its origins can be traced back to the Han dynasty (206 BC – 220 AD) and a belief that all things in nature followed patterns and cycles, which are closely connected to human fortune and misfortune. The term “rice divination” comes from the main component used in the practice, 1,080...

Politics

16 h. ago Russia slams ‘unfounded’ claims of citizens fighting for Cambodia in Thailand border war

Russia has dismissed reports of its nationals fighting for Cambodia in the escalating border clash with Thailand, saying the “unfounded assertions undermine” the traditionally friendly ties between Moscow and Bangkok. The Russian embassy in the Southeast Asian kingdom said in a social media post on Monday that the claims emerged from outside Thailand. Thailand and Cambodia are locked in a deadly conflict that has killed dozens and displaced hundreds of thousands of people on both sides of the...

Events

18 h. ago China cuts US Treasury holdings to lowest level since 2008 amid debt ceiling fears

China reduced its US Treasury holdings in October to its lowest level in 17 years, as mounting concerns over US debt sustainability and the Federal Reserve’s independence further eroded confidence in dollar-backed assets. The country’s stockpile fell to US$688.7 billion in October, down from US$700.5 billion in September, according to US Treasury Department data released on Thursday. October’s figure was the lowest level reported since November 2008, and marked a plunge of more than 47 per cent...

Politics

24 h. ago TikTok reaches deal to sell US assets to American investor group

In a landmark move that ends years of legal and political uncertainty, TikTok CEO Chew Shou Zi informed employees on Thursday that the company has signed a binding agreement to sell its US operations to a consortium of American investors. The deal, which has received the backing of US President Donald Trump, effectively averts a looming nationwide ban and secures the platform’s future for its 170 million American users. The new entity, a TikTok US joint venture, is set to close on January 22,...

Economics

24 h. ago TikTok reaches deal on new US venture with American investor group

In a landmark move that ends years of legal and political uncertainty, TikTok CEO Chew Shou Zi informed employees on Thursday that the company has signed a binding agreement to divest its US entity into a joint venture controlled by a consortium of American investors. The deal, which has received the backing of US President Donald Trump, effectively averts a looming nationwide ban and secures the platform’s future for its 170 million American users. The new entity, named TikTok USDS Joint...

Economics

32 h. ago Top AI defense CEO warns China could 'bleed American stockpiles dry' in the event of a conflict, claiming U.S. munitions could run out in a week

Top AI defense CEO warns China could 'bleed American stockpiles dry' in the event of a conflict, claiming U.S. munitions could run out in a week  Fortune

Events

32 h. ago Top AI defense CEO sees China planning for a 'very protracted conflict' and the U.S. running out of weapons in 7 days

Top AI defense CEO sees China planning for a 'very protracted conflict' and the U.S. running out of weapons in 7 days  Fortune

Events

33 h. ago Power outage briefly leaves 5,000 Hong Kong households in darkness

A power outage briefly left Hong Kong’s Kowloon City, a densely populated neighbourhood, in darkness on Thursday, with traffic lights malfunctioning, people trapped in lifts and about 5,000 households affected. Police said they received a report at 4.18pm that people were trapped in a lift at Kowloon City Plaza and the shopping centre was in total darkness. The case was later classified as “assistance not required”. At 5.04pm, another report was filed with the force concerning malfunctioning...

Politics

34 h. ago China’s CATL marks trailblazing deployment of humanoid robots at scale on the factory floor

Contemporary Amperex Technology (CATL), the world’s largest maker of electric vehicle (EV) batteries, has started deploying humanoid robots at scale within its Zhongzhou production base in Luoyang, a city in central Henan province. The company on Wednesday described its deployment at scale as a “world’s first”, as humanoid robots built by start-up Spirit AI performed complex tasks with speeds that matched those of skilled human workers. Spirit AI’s Xiaomo robots have been assigned to plug in...

Politics

37 h. ago Wall Street Journal accuses Hong Kong union head of abusing legal process

The Wall Street Journal (WSJ) has accused the head of a Hong Kong journalists’ union of abusing the legal process by suing the newspaper over her dismissal only after her “extortionate” HK$3 million (US$385,500) proposal for settlement was rejected. Lawyers for Dow Jones Publishing Co (Asia) told Eastern Court on Thursday that Selina Cheng Kar-yue’s complaint alleging the American news outlet violated Hong Kong labour laws was driven by private interests and bad faith. “We’re saying Ms Selina...

Events

40 h. ago Hong Kong logistics group’s CEO buys US$17 million home as wealthy accumulate assets

A top executive of a multinational logistics group has bought a luxury flat in Hong Kong’s Mid-Levels West for HK$132 million (US$16.9 million), adding to a growing list of wealthy buyers acquiring high-end homes as prices soften. Cherry Hill Investment, an entity linked to Arnold Lee, acquired the 2,772 sq ft, four-bedroom apartment at The Legacy, jointly developed by Henderson Land Development and New World Development, according to Land Registry records. The transaction was completed on...

Economics

41 h. ago After year of shocks, Europe faces crunch talks on Ukraine, China and its economic future

Late last year, as European Commission President Ursula von der Leyen began her second term in office, a giant purple banner was draped over the side of the EU executive arm’s headquarters, declaring: “United for our Future, 2024-2029.” While unity among the EU’s 27 member states has always been elusive, it has rarely been more critical. Its leaders will gather on Thursday to try to round off the year with a collective bang, but there is growing fear it will end with a series of disparate...

Economics

41 h. ago After year of shocks, EU faces crunch talks on Ukraine, China and its economic future

Late last year, as European Commission President Ursula von der Leyen began her second term in office, a giant purple banner was draped over the side of the EU executive arm’s headquarters, declaring: “United for our Future, 2024-2029.” While unity among the EU’s 27 member states has always been elusive, it has rarely been more critical. Its leaders will gather on Thursday to try to round off the year with a collective bang, but there is growing fear it will end with a series of disparate...

Economics

43 h. ago AMD CEO pledges greater investment in China amid efforts to boost US

AMD CEO pledges greater investment in China amid efforts to boost US-China chip cooperation  digitimes

Economics

45 h. ago Hong Kong stocks resume decline as tech giants stumble on AI bubble jitters

Hong Kong stocks resumed their decline on Thursday, with technology stocks leading the sell-offs on growing jitters that a global boom in artificial intelligence could turn into a bubble. The Hang Seng Index fell 0.3 per cent to 25,391.46 at 10.10am local time. The Hang Seng Tech Index dropped 1.2 per cent. On the mainland, the CSI 300 Index slid 0.5 per cent and the Shanghai Composite Index added less than 0.1 per cent. Xiaomi, the Chinese smartphone and electric vehicle maker, tumbled 2.5 per...

Politics