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The move follows sweeping export controls implemented by the United States last year that stopped Nvidia from selling its two most advanced chips to Chinese customers
China has been working on a more than 1 trillion yuan ($145.34 billion) support package for its semiconductor industry, amid tightening US restrictions
The planned exit contrasts with recent expansions in China by its US rivals BlackRock and Fidelity
China's retail sales dipped in December, while the country's economic growth in 2022 slumped to one of its worst levels in half a century
Ernie bot responded in a similar manner to questions about China's 1989 Tiananmen Square crackdown and the treatment of Uyghur Muslims
In an article published at the beginning of his Moscow trip, Xi said the two countries adhered to the concept of "eternal friendship and mutually beneficial cooperation"
Washington cut off Huawei's US supply of chips and access to tech to design its own chips and has also banned the sale of new Huawei equipment in the US
Government says Indian banks could offer a deposit-backed credit line to startups that had funds in SVB
"Ernie Bot is not a tool of confrontation between China and the United States," said Baidu CEO Robin Li.
IT Minister Ashwini Vaishnaw said there’s an ‘ecosystem shift’ to the country as he revealed plans to develop India’s chip sector
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Southeast AsiaCan Singapore Oust Hong Kong To Be Asia’s Fintech Leader? -
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With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors
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PaymentsCan China Take Place of SWIFT System? Analysts Say ‘No’There is no global payment system that is strong enough to act as an alternative to SWIFT and enable Russia to evade sanctions
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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Market InsightsHere’s How China Can Win the Tech War With USAThe Chinese government is doubling down on incentives for innovation, which it believes to be the cornerstone of its future growth and international position.
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Fintech InsightsAsia Becomes the Epicentre of Global NFTsAsia is the frontrunner in the NFTs craze with Central and Southeast Asia accounting for 35% of the $22 billion in global trade
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