China Economic ReviewUS tech giant Apple has picked Chinese search engine giant Baidu to provide the generative artificial intelligence (AI) technology for its coming iPhone 16 and other products in the mainland market this year, according to a Chinese media report, reports the South China Morning Post. Apple will use Baidu’s Ernie Bot for its iPhone 16, […]
China Chengtong Holding Group, the state-owned capital management firm, issued a RMB 1 billion ($139 million) 30-year bond on Wednesday. This is the first ultra-long-term credit debt issued in recent years, reports Nikkei Asia. The proceeds of the bonds, with a coupon rate of 3.35%, will be used to repay existing debt, China Chengtong said. Non-financial […]
PetroChina Co.’s annual profits rose to a record as a rebound in natural gas demand helped the Chinese energy major offset the impact of falling oil prices, reports Bloomberg. The country’s biggest oil and gas producer’s net income rose to RMB 161 billion ($22 billion) last year, the company said in an exchange filing Monday. […]
China’s cybersecurity regulator Friday issued a set of rules governing cross-border data transfer, easing some requirements to address a key concern of foreign businesses, reports Caixin. The rules relaxed curbs on outbound data flow and narrowed the scope of information that requires security review. They also clarified how security evaluation and filing for data export […]
Chinese social media sensation Xiaohongshu has seen its growing popularity lead to profits for the first time, as the Instagram-like platform brings in revenues from advertising and a nascent ecommerce business, reports the Financial Times. The Shanghai-based video and photo-sharing app raked in $500 million in net profit last year on revenues of $3.7 billion, according to […]