#china

Xiao Feng, the chairman and CEO of the investment company HashKey Group, believes China may reconsider its approach to crypto now that Donald Trump has won the election.

Alibaba, a major China-based e-commerce company, is cutting down jobs in its metaverse department, Yuanjing Shengsheng.

Last week marked the best performance for Chinese stocks since 2008, and the rally continues. What’s fueling this new economic surge in China?

While ChatGPT has been unavailable for mainland China users, developers in the region were able to utilize OpenAI’s services for their applications.

The Chinese government has launched a specialized investment fund dedicated to supporting local development and manufacturing of chips, including those designed for artificial intelligence. Since its official establishment on May 24, the fund has attracted over $47.5 billion in investments.

The Chinese government is scrutinizing PricewaterhouseCoopers (PwC), the audit firm implicated in a significant fraud case with the Evergrande Group, involving around $78 billion. Chinese officials have reached out to PwC accountants who audited the construction giant, seeking more insights.

In China, local governments and law enforcement agencies warned the public against illegal fundraising activities masked as lucrative crypto investments.

Donald Trump’s post-return agenda to the White House includes measures such as significant import tariff hikes, escalating trade conflicts with China, and aggressive deficit reduction. His determination to weaken the US dollar stands out as particularly significant.

BitMEX co-founder Arthur Hayes recently released an essay titled “Let’s Go Bitcoin”, where he addresses China’s economic challenges and anticipated shift to monetary easing, suggesting that this could lead to a significant BTC price increase.

Zhang Moumou, the mastermind behind a $14 billion crypto pyramid scheme, has been extradited from Thailand to China. This event marks the first successful extradition of an economic crime suspect between the two countries since the two countries signed the extradition treaty in 1999.

A study by SAS reveals that China is at the forefront of global AI implementation, with 83% of companies utilizing artificial intelligence. This is notably higher than the adoption rates in the UK (70%), the US (65%), and Australia (63%), with the global average at 53%.

A Chinese court has found Wong Ming-Chung, the administrator of a financial Telegram chat group offering paid subscriptions, guilty of providing investment advice without the necessary license over several years. The investigation and subsequent lawsuit were led by the China Securities and Futures Commission (CSFC).

Microsoft is offering to its China-based employees, especially AI specialists, to relocate to another country due to rising China-U.S. tech tensions. The main relocation options are the U.S., Ireland, Australia, or New Zealand.

Harvest Fund Management, Bosera Asset Management, and China Asset Management have secured approval from the Hong Kong regulator to launch spot ETFs for Bitcoin and Ethereum.

The Chinese government is set to replace Intel and AMD processors with local innovations and ban the use of Microsoft's Windows operating system in state enterprises. The prohibition extends to all foreign database management software as well.

China's state media is once again alerting its citizens to the dangers and illegality of cryptocurrency trading, as well as enforcing a total ban on mining. This move coincides with a surge in Bitcoin's popularity following the approval of spot ETFs and the anticipation of the upcoming halving event, which will reduce the reward for mining a block by half.

Nvidia is now taking pre-orders from Chinese distributors for its latest artificial intelligence chip, crafted to adhere to the stringent U.S. sanctions. The new H20 graphics card is priced between $12,000 and $15,000, yet the retail cost in China begins at $15,300.