Alibaba Reports Earnings
Chinese e-commerce giant Alibaba on Friday, November 15, released information about its earnings for the third quarter of 2024.
China
China’s Stimulus Measures Raise Domestic Consumption
For China, the fourth quarter of the current year began and continues as a period of a more balanced condition of the local economic system, which in recent years has been facing various challenges that have a significant sensitive impact on the situation in the relevant space.
Baidu Expands AI Lineup
The Chinese company Baidu on Tuesday, November 12, presented new apps for its artificial intelligence technology.
Washington Reportedly Orders TSMC to Halt Shipments to China of Some Chips
The media, citing an insider, reported that the United States ordered Taiwan Semiconductor Manufacturing Co (TSMC) to halt shipments of advanced chips to Chinese customers.
China’s Consumer Prices Growth Demonstrates Slowdown
In October, China recorded an increase in consumer prices, which demonstrated the pace of upward dynamic, which is the slowest in the last four months.
China Announces $1.4 Trillion Debt Package
China on Friday, November 8, announced a five-year package of measures totaling 10 trillion yuan ($1.4 trillion), designed to solve the debt problems of local governments.
China’s Exports Demonstrate Growth
In October, Chinese exports showed growth rates, which turned out to be the most intense in more than two years.
US Lawmaker Urges Investigation Into China’s Chipmaker SMIC
Michael McCaul, chair of the House Foreign Affairs Committee, urged US Commerce Department agents to visit the production sites of China’s Semiconductor Manufacturing International Corporation (SMIC) and check whether this company is involved in making chips for Huawei Technologies.
Chinese Unicorn Zhipu AI Raises $210 Million
Zhipu AI, one of the leading Chinese startups in the area of generative artificial intelligence, has announced the initial closure of its venture capital vehicle.
Chinese AI Companies Spend Huge Sums on Ads
In China, local companies that operate in the artificial intelligence area are currently racking up huge advertising bills.
Huawei Integrates Chinese CBDC Into HarmonyOS NEXT
Huawei is embedding Chinese CBDC, digital yuan, directly into its HarmonyOS NEXT operating system, potentially reaching up to a billion users.
Global Public Debt to Surpass $100T in 2024
The IMF reports that global public debt is projected to exceed $100 trillion by the end of 2024, largely driven by rising fiscal deficits in the United States and China.
Intel Invests $300 Million in China
Intel has announced its intention to expand its chip packaging and testing base in Chengdu, a city located in the southwestern part of China and the capital of Sichuan province.
Global Economy to Maintain Stable Growth of 3.2% in 2025
The global economy is expected to perform in a “stable yet underwhelming” manner in 2024 and 2025, showing a steady growth rate of 3.2%, according to the IMF forecast.
Chinese Banks Cut Lending Rates
In China, local financial institutions have cut their benchmark lending rates after the launch of the so-called easing strategy by the Asian country’s central bank last month.
Goldman Sachs Upgrades China’s GDP Forecast
Experts at Goldman Sachs Group Inc. have revised their forecasts for China’s economic growth prospects in the current year and 2025.
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