The CEO states that American limitations on chip technology obstruct China's leading chip foundry's AI aspirations.

Zhao Haijun, the joint CEO of SMIC, maintains that the foundry can still take advantage of the growing need for less sophisticated 'legacy chips' necessary for certain AI items.

"AI is a boon for the semiconductor production industry," stated Zhao in a financial results discussion with analysts on Friday. "It has the potential to drive our business expansion in the forthcoming years."

The rise of artificial intelligence (AI) in recent years has resulted in a heightened need for global foundries. These foundries have swiftly adjusted their production lines to concentrate on manufacturing graphics processing units (GPUs). These chips are essential for training AI models. TSMC, the world's leading contract chip manufacturer, expressed optimism about its prospects for the coming year in October, attributing this to the robust demand for AI.

CIIE: L'Oreal, the cosmetics titan, bolsters its supply chain in China to minimize disruption risks

'Our focus is on this localisation strategy, aiming to manufacture as much as possible, wherever possible in China,' states the executive.

"By doing this, our reliance on international supply chains, primarily those not only in China but also majorly in the US or Europe, will gradually decrease."

The team has already improved its supply chain procedures in Suzhou and Yichang and began utilizing Guangzhou as a port, after discovering an excessive dependence on Shanghai. This over-reliance became problematic when Shanghai faced significant delays during Covid lockdowns.

"We've established storage facilities in locations previously unoccupied, such as the northeastern region of China, bringing us nearer to our consumers," Gupta stated. "In addition, we're mechanizing our larger facilities, which lessens our reliance on numerous personnel."

The business has also utilized technology to strategize for internet sales.

Analysts predict a stabilization in Hong Kong's housing prices following a rate decrease in the near future. The surprise reduction in the prime-rate by domestic lenders is anticipated to attract more purchasers, bolstering prices.

The surprising reduction in the prime rate by Hong Kong banks on Friday will decrease financing expenses and attract additional purchasers to the market. Experts anticipate that city's housing prices will reach their lowest point "in the near future".

BOCHK, HSBC, and its affiliate Hang Seng Bank are set to reduce their prime rate by a quarter point, bringing it down to 5.375% starting Monday, as per individual announcements. Standard Chartered, Bank of East Asia, and ICBC (Asia), the regional division of China's largest bank, will also lower their prime rate to 5.625%.

The actions of the banks came as a surprise, considering that Hong Kong banks usually lower their rates only once for every two to three reductions by the US, stated Raymond Cheng, who is a managing director at CGS International Securities in Hong Kong.

"The most recent reduction implies that the mortgage rate in Hong Kong will also decrease by 25 basis points, dropping to 3.625 per cent from its previous rate of 3.875 per cent."

In Hong Kong, a significant number of home loans are designed as prime-based lending, where the interest rates are determined at a level either higher or lower than the bank's prime rate. As a bank decreases its prime rate, the interest rate for these prime-associated mortgages similarly goes down, which aids in lessening the monthly expenditures and total borrowing costs for those purchasing homes.

TSMC stops taking advanced chip orders from mainland China following US export restrictions evasion: insider

TSMC has informed its mainland Chinese customers that it will cease the production of advanced chips for them, as per an individual who was informed about the announcement.

Earlier this week, TSMC announced that it will cease to take orders for the processing of advanced nodes at 7-nanometre or less from certain customers, starting from the upcoming week. This information was provided by an executive from a mainland chip design company who wished to remain anonymous due to the delicate nature of the topic. The executive had been informed about the notice.

The initial report about the domestic semiconductor industry came from Ijiwei.com, a Chinese news publication, on Friday. There was no immediate reaction from TSMC when asked to give their comments.

TSMC has rejected any claims of misconduct and has vowed to cooperate with the US Commerce Department in examining the matter. Meanwhile, Huawei has stated that it hasn't made any chips through TSMC since the amended foreign direct product rule, which was aimed at Huawei, was enforced by the US Department of Commerce in 2020.

Cryptocurrency supporters in China are elated by Trump's election win

These supporters anticipate a promising outlook for digital assets and associated regulations in mainland China and Hong Kong.

"He also mentioned that this change could potentially impact the regulatory perspectives on digital assets in mainland China in a positive way."

Bitcoin values soared past $75,000 at a certain moment on Wednesday, marking an increase of over 66% since the beginning of the year.

International food businesses seeking expansion are focusing on the sophisticated Chinese market, according to attendees of CIIE. They also stated that Chinese customers are seeking premium milk products and food items without any additives.

Global food corporations are striving to remain viable in the Chinese market by focusing on consumers who frequently travel, appreciate nutritious food, and are increasingly interested in Western commodities, according to participants at the biggest international trade fair.

"She commented that consumers in China have a significant preference for items such as high-protein milk drinks," during her speech at the China International Import Expo (CIIE) in Shanghai on Wednesday. The CIIE has attracted 3,500 exhibitors from over 150 different countries and regions, with big multinational corporations like Volkswagen Group and L’Oreal among them.

Goodman Fielder is particularly keen on targeting younger Chinese individuals who travel overseas for education, work, or leisure and develop a longing for the tastes they encountered in Western countries upon their return. Tang mentioned that consumers from China's top-tier cities travel internationally and acquire a liking for types of bread like ciabatta and sourdough, and seek these out when they return home.

Utilizing insights gained from their market studies, Goodman Fielder has expanded its product range for China by introducing La Famiglia frozen garlic bread and a pancake mix.

Theland, a dairy corporation from New Zealand, is introducing innovative products such as honey-infused milk to maintain its edge in the Chinese market, as stated by its Asia-Pacific CEO Sheng Wenhao. He noted that even amidst economic downturns, there are still areas experiencing growth.

MTR Lab supports Ensonic, an AI startup, in its initial investment in mainland China. Ensonic specializes in developing AI-driven sound detection systems that are employed for the quality assurance and upkeep of equipment.

AI Leading the Way: How Cyberport Start-ups are Enhancing Efficiency and Security in the Finance Sector

[This article has been created by our promotional partner.]

The initial stage of the AI Supercomputing Centre is anticipated to start functioning within the current year. Cyberport, recognized as the city's digital technology center, is ready to assist AI-based start-ups like 221b, Aereve, AutoML Capital, AIFT (formerly known as OneDegree Group), and Wizpresso, to develop revolutionary AI-driven solutions for the finance industry.

AI is revolutionizing modern fintech in areas such as risk management and fraud identification. Cyberport is at the forefront of this shift, fostering growth for over 430 fintech startups and in excess of 300 AI, big data, and robotics firms. This is encouraging progress in fields like compliance, cybersecurity, wealth management, and credit risk reduction, among others.

Effective adherence to AML regulations

Aereve, a start-up from Cyberport, focuses on crafting AI-powered compliance solutions specifically for the Asian and Middle Eastern markets where non-Latin languages such as Japanese, Chinese, and Arabic are predominantly used.

The firm's systems for countering money laundering (AML) and customer identification (KYC) use proprietary natural language processing (NLP) technology to enhance the precision and effectiveness of compliance procedures. In addition, they provide integrated assistance for non-Latin languages such as Traditional and Simplified Chinese, Japanese, and Arabic.

Shares and bitcoin skyrocket following Trump's win, as fears over inflation grow; Dow jumps by 1,500.

Nonetheless, apprehensions regarding inflation and increased interest rates surface, prompting a drop in the prices of Treasury bonds and in European equity markets.

On Wednesday, the American stock market, including Elon Musk's company Tesla, banks, and bitcoin, all experienced a surge in value as investors speculated on the potential economic and global implications of Donald Trump's potential return to the White House. The renewable-energy sector and those concerned about increased inflation may, however, be perceived as being on the losing end by the market.

The S&P 500 experienced a 2.5 percent surge, marking its most successful day in almost two years. The Dow Jones Industrial Average saw a dramatic increase of 1,508 points, equivalent to 3.6 percent, and the Nasdaq composite grew by 3 percent. All three indexes surpassed recent record highs.

Historically, the US stock market has shown an upward trend irrespective of the victorious party in the Presidential elections. However, since 1945, the market has seen larger average increases under Democratic leadership.

However, the dominance of Republicans could lead to significant changes in the industries that prosper or fail, hidden beneath the surface. Investors are increasing their stakes based on earlier predictions about the potential consequences of Trump's preference for higher tariffs, reduced tax rates, and less stringent regulations.

"Everyone in the markets is rushing to understand the forthcoming scenarios. However, at present, the market is factoring in a projection of increased growth and inflation," said Peter Esho from Esho Capital.

Naturally, the extent of alterations Trump can implement in his second tenure will probably rely on if his Republican colleagues secure a majority in Congress, a result yet to be confirmed. This uncertainty could potentially allow for reversals in some of the impulsive actions observed on Wednesday.

The C24 conference by IABHK positions Hong Kong as a global leader in marketing by leveraging innovation and cultural collaboration. The conference emphasized Hong Kong's advantages as an international marketing powerhouse, underscoring the city's distinctive blend of Eastern and Western cultures. [This piece has been created by our promotional collaborator.]

The Interactive Advertising Bureau Hong Kong (IABHK) effectively held its C24 conference on the 26th of September, an event that reinforced Hong Kong's position as a top-tier marketing hub globally. The conference, attracting over 1,100 marketing specialists from Asia and Europe, revolved around the theme "Impact AI: The New Marketing Paradigm". This theme illuminated the revolutionary role of artificial intelligence (AI) in the field.

The C24 conference serves as a central gathering for innovators and marketers, acting as more than just an event – it's a movement that brings together industry participants and strengthens Hong Kong's status as a worldwide hub for marketing and advertising. As one participant pointed out, this unique conference is not just about showcasing solutions, but also about fostering relationships, with attendees feeling more like long-lost friends catching up than mere conference-goers.

The conference demonstrated IABHK's dedication to establishing Hong Kong as a worldwide center for the fusion of Eastern and Western marketing techniques. This ambition capitalizes on the city's distinct cultural harmony, a variety of skilled individuals, and advanced technological capabilities. The convention embodied this intellectual leadership by presenting AI-based tactics that improve customer interaction and promote business expansion.

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Notable figures in the industry shared their knowledge, providing a preview of the future of marketing. Google's head of innovation for global strategic initiatives, Professor Darren, discussed steering through the generative AI revolution and maintaining sustainability. Vishal Singhvi, in charge of generative AI at Microsoft, and Gurmit Singh, the general manager for APAC & MEA at Quora, delved into how AI will propel innovation, efficiency, and fresh business models in a range of industries.

Chinese electric vehicles (EVs) will not be deterred from entering the European Union due to tariffs, according to industry representatives at CIIE. Producers of EVs in China see their competitive edge in manufacturing and pricing as a means to ensure their products are marketable overseas.

At the China International Import Expo (CIIE) in Shanghai, authorities reported that Chinese firms have the unmatched ability to produce top-notch electric vehicles at the most competitive prices, outperforming their global rivals in terms of development and manufacturing prowess.

"The dominance of Chinese automobile manufacturers in the electric vehicle (EV) production could be replicated in other markets due to their ability to satisfy the worldwide consumer demand," stated Sam Wu, Chief Executive Officer of Ford Motor China, during his speech at the Hongqiao Forum, a segment of the CIIE, on Wednesday. "The Chinese EV sector leads the way, largely due to its early inception and the backing of the government."

A pair of representatives from leading global auto manufacturers have stated that their electric vehicles manufactured in China have no trouble finding buyers in European Union countries, despite facing extra import charges ranging from 17 per cent to 35.3 per cent.

In the previous month, the European Union decided to levy charges on all-electric vehicles manufactured in China after conducting an investigation into subsidy practices. These additional charges are above the regular 10 per cent tariff imposed on all-electric vehicles made in China. These fresh tariffs will remain valid for a period of five years.

World-renowned companies such as Volkswagen and BMW are also impacted by the sanctions. This is due to their vehicles, which are manufactured on the mainland, being assembled in collaboration with partners such as the state-owned SAIC Motor and Brilliance Auto.

Semiconductor companies ASML, AMD, and Qualcomm have reconfirmed their dedication to China at the CIIE trade expo. Alongside around 400 various businesses, they participated in the Intelligent Industry & Information Technology showcase, a segment of the 2024 CIIE trade exhibition in Shanghai.

ASML, a leading global provider of advanced lithography systems for chip production, did not showcase any of its big machines at the exhibit. However, this didn't stop a substantial crowd from gathering at its stall on Wednesday.