Chinese companies are racing ahead in adopting generative artificial intelligence (AI), a technological leap that experts say could upend global commerce and give China a critical edge. This significant lead, coupled with China’s dominance in AI patent filings and strong government support, could reshape global...
Economic growth in China reportedly fell to its slowest pace in five quarters. The surprise slowdown came as a decline in consumer spending hamstrung an increase in exports, Bloomberg reported Monday (July 15). Gross domestic product grew 4.7% year over year in the second quarter,...
Paytm has reportedly received government approval to invest $6 million in its crucial payments subsidiary. That green light came from a government panel overseeing investments tied to China, allowing embattled Paytm to invest $6 million in Paytm Payment Services, Reuters reported Tuesday (July 7), citing sources with knowledge...
OpenAI’s upcoming ban on application programming interface (API) access to its artificial intelligence (AI) models in China doesn’t apply to Microsoft Azure’s customers in the country. Azure operates in China via a joint venture and has made it clear in public statements that the AI models...
April 24, 2024
The clock is running out on TikTok’s U.S. ambitions. President Joe Biden on Wednesday (April 24) signed a bipartisan measure that gives TikTok’s owner, Chinese tech giant ByteDance, nine months to a year to sell the video-sharing social media platform or see it banned in the U.S. Biden’s action followed the measure’s passage in the […]
March 25, 2024
Alan Marquard, head of transfer solutions at Mastercard, told PYMNTS that remittances are ripe for continued transformation — to digital channels, and to digital wallets, which make international fund flows...
July 19, 2023
While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not only marks the luxury retailer’s...
July 17, 2023
China is a famously hands-on nation when it comes to controlling information within its borders. Still, that hasn’t stopped some of the world’s largest technology companies from complying with Beijing’s...
July 19, 2024
Chinese consumers are reportedly choosing to repay debt and buy wealth management products, despite government efforts to get them to spend. The country’s consumers put less money in the bank in June but didn’t spend that money, Reuters reported Friday (July 19). “The year-on-year decrease in excess savings growth has not yet translated into increased consumption,” […]
July 15, 2024
Economic growth in China reportedly fell to its slowest pace in five quarters. The surprise slowdown came as a decline in consumer spending hamstrung an increase in exports, Bloomberg reported...
July 09, 2024
Paytm has reportedly received government approval to invest $6 million in its crucial payments subsidiary. That green light came from a government panel overseeing investments tied to China, allowing embattled Paytm...
July 08, 2024
OpenAI’s upcoming ban on application programming interface (API) access to its artificial intelligence (AI) models in China doesn’t apply to Microsoft Azure’s customers in the country. Azure operates in China via...
