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China’s manufacturing activity contracted in January for the fourth consecutive month, reflecting sluggish momentum in the world’s second-largest economy at the start of the year despite policymakers’ efforts to boost confidence in the recovery, reports the Financial Times. The country’s official manufacturing purchasing managers’ index released on Wednesday was 49.2 for the month, in line […]

Chinese selfie app giant Meitu said new image-and-video-editing tools powered by artificial intelligence (AI) helped the company triple its profits last year, in stark contrast to how many other firms struggle to monetise the technology through their own generative AI initiatives, reports the South China Morning Post. Citing its preliminary assessment of unaudited accounts, Hong […]

China’s leading chip companies, from Loongson Technology to Cambricon Technologies, expect to log huge losses for 2023 in spite of Beijing’s push for greater self-sufficiency in semiconductors, according to corporate filings, reports the South China Morning Post. Loongson Technology, a fabless chip firm that is a firm advocate for domestic semiconductor development, is estimating a […]

Contemporary Amperex Technology (CATL), the world’s biggest maker of electric-vehicle batteries, has been given the green light to invest RMB 13 billion ($1.83 billion) in building its first offshore wind power project, reports Caixin. Fujian Provincial Development and Reform Commission said Monday it has approved the construction of an 800-megawatt offshore wind farm project and […]

A state-backed property project in China has received the first development loan under Beijing’s so-called “whitelist” mechanism and two major cities have eased home-buying curbs, state media reported, as concerns mount about the liquidation of Evergrande, reports Reuters. The latest measures add to a string of supportive policies rolled out by the world’s second-largest economy […]