China has lifted a long-standing restriction that barred foreign companies from purchasing residential properties for non-self-use, as part of the efforts to boost foreign investment and stabilize the country’s beleaguered real estate sector, reports Caixin. The State Administration of Foreign Exchange (SAFE) on Monday issued a notice outlining nine new measures to streamline cross-border investment […]
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China enters UN’s top 10 innovative nations
China moved into the top 10 of the United Nations’ annual ranking of most innovative countries for the first time on Tuesday, replacing Europe’s largest economy, Germany, as firms in Beijing invest heavily in research and development, reports Reuters. Switzerland remained in first place, a position it has held since 2011, followed by Sweden and […]
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Hesai raises $531mn in HK debut
Shares of Hesai Group, the world’s largest supplier of lidar sensors, rose in their Hong Kong debut on Tuesday as investors tapped into the offering amid a slew of blockbuster deals in the city’s listing pipeline, reports the South China Morning Post. Trading under the code 2525, Hesai’s shares opened at HK$229.20 ($29.46), a premium […]
Beijing has said the US spin-off of TikTok to be sold to American investors in a deal orchestrated by President Donald Trump will use parent company ByteDance’s Chinese algorithm, reports the Financial Times. Wang Jingtao, deputy head of China’s powerful cyber security regulator, on Monday said US and Chinese officials had agreed a framework that […]
Disney, Universal and Warner Bros Discovery have jointly filed a lawsuit against the Chinese creator of a popular artificial intelligence video app over what they claim is “wilful and brazen” copyright infringement, reports the Financial Times. The suit against MiniMax, which owns Hailuo AI, a video generator that markets itself as “Hollywood studio in your […]