Category: F3
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Didi Posts First Profit Since 2021 As it Plans Hong Kong IPO
Didi Global Inc. has posted its first profit since 2021 suggesting a steady recovery in the ride-hailing market in China. Revenue increased 25% to 51.4 billion [more…]
Xiaomi Sets 11.11 Record of $3.11 Billion in Sales
Xiaomi claimed record sales across all platforms during the Singles Day shopping festival. The company broke the annual promotion record selling more than 22.4 billion [more…]
Baidu Replaces Nvidia with Huawei for AI Chips
Chinese internet behemoth Baidu has placed an order for artificial intelligence chips from Huawei rather than its regular supplier, Nvidia, signalling a significant departure from [more…]
Ant Group Cleared To Release Financial AI Tools
Ant Group’s artificial intelligence (AI) products are now legally available to the general public, following approval from Chinese regulators. The company, which arose from Beijing’s [more…]
China Foreign Investment Goes Negative For The First time
China’s foreign investment was negative $11.8 billion in the third quarter, marking the first outflow in the country’s foreign investment since 1998. Higher interest rates [more…]
Alibaba Hits record in Singles’ Day Festival
Alibaba has 1 million brands and merchants involved in its marketplace promotions for the 11.11 festival, which runs from October 24 to November 11. Content [more…]
China Limits Export of Key Graphite Material
Days after the US tightened limits on shipments of AI chips to China, the Chinese ministry of commerce placed limitations on Friday on exports of [more…]
Huawei Overtakes Apple in China
According to a Jefferies study on Monday, Huawei’s smartphones are becoming more popular in China and have surpassed Apple’s iPhone to capture the top spot [more…]
Baidu announces Ernie 4.0 to rival GPT-4
Chinese tech giant Baidu asserts that Ernie 4.0, the most recent iteration of its AI model, is on par with ChatGPT creator OpenAI’s ground-breaking GPT-4. [more…]
Alibaba’s Cainiao Begins Half-Day Delivery
Before the approaching Singles Day shopping festival, Cainiao, the logistics division of Chinese digital giant Alibaba Group Holding Ltd, launched its half-day express delivery service [more…]
