Signage for Chinese tech giant Alibaba is seen on a building in the Xuhui district in Shanghai on Feb 22, 2025. [Photo/VCG] Chinese tech giant Alibaba Group Holding Ltd announced on Monday its plan to invest over 380 billion yuan ($52.4 billion) in its cloud computing and artificial intelligence infrastructure over the next three years.…
CNOOC booth at an expo held in Shanghai on Dec 6, 2024. [Photo/VCG] China’s first oilfield from with reserves of super-heavy oil begins extracting reservoirs through thermal recovery. Luda 5-2 North Oilfield Phase II Development Project commenced production extraction on Friday, said its operator, CNOOC Limited. The project, located in the central part of the…
A shopper browses a colorful display of Spring Festival decorations, including couplets, lanterns, and festive stickers, inside a Walmart store on Jan 26, 2025, in Chongqing. [Photo/VCG] NEW YORK – International retail giant Walmart Inc. saw strong sales growth in China during its fiscal quarter ending Jan 31, according to the latest earnings report issued…
State Grid Zhejiang Electric Power Co Ltd recently launched a prediction center leveraging artificial intelligence to precisely forecast electricity use. The move came as an increasing amount of intermittent renewable power is being connected to the grid. As renewables such as coals are hard to manage, the former’s connection to the grid would cause instability…
Hisense’s TV products have integrated DeepSeek’s large language models. [Photo provided to chinadaily.com.cn] Chinese home appliance maker Hisense Group said it will continue to increase investments in research and development, bolster technological innovation and boost its brand awareness via sponsorship of major world-class sporting events. The company has become the first official partner of the…
BEIJING — China’s local state-owned enterprises (SOEs) maintained steady operations in 2024, marked by an increase in fixed-asset investment and profits, official data shows. The fixed-asset investment of local SOEs totaled 7 trillion yuan ($976.22 billion) last year, an increase of 4.2 percent year-on-year, according to the State-owned Assets Supervision and Administration Commission of the…
More than 2.5 trillion soy beans are being selected annually via an artificial intelligence bean face recognition system in the workshops of Haitian Flavouring and Food Co Ltd in Foshan, Guangdong province. The AI bean face recognition technology ensures that only good quality soy beans are used to produce soy sauce, further ensuring the quality…
Furniture and home accessories producer IKEA’s supply chain operations launches its first batch of smart-driving electric trucks in China. [Photo provided to chinadaily.com.cn] Furniture and home accessories producer IKEA’s supply chain operations recently launched its first batch of smart-driving electric trucks in China, a major step to enhance logistics efficiency and reduce carbon emissions. These trucks…
A view of Alibaba’s booth during an expo in Guangzhou, Guangdong province. [Photo/Xinhua] Chinese tech giant Alibaba Group Holding Ltd reported on Thursday night that its revenue stood at 280.15 billion yuan ($38.4 billion) during the October-December period, an increase of 8 percent year-on-year, while its net income reached 46.43 billion yuan, surging 333 percent…
Chinese tech heavyweight Lenovo Group Ltd announced on Thursday that its revenue in the quarter ended December grew 20 percent year-on-year to $18.8 billion, marking the third consecutive quarter of double-digit growth as its investment in artificial intelligence drives businesses forward. Net income more than doubled year-on-year to $693 million, including a non-recurring income tax…