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Alipay launches AI version to reinvent China’s super app

China’s Alipay unveiled an artificial intelligence-powered version of its app on Tuesday, launching a new assistant called “A Bao” as owner Ant Group seeks to transform one of the world’s largest digital platforms into an AI-first super app. The company said the new version has entered invitation-only testing and will be gradually rolled out to…

New NFRA guidelines promote safe AI adoption in finance

The National Financial Regulatory Administration announced the release of new guidelines on the safe development and application of AI in the banking and insurance sectors on Thursday. The guidelines call for stronger risk-based and tiered management of the development and application of artificial intelligence at banking and insurance institutions to effectively address the challenges posed…

Chinese AI chipmaker approved for STAR listing

Chinese AI chipmaker Enflame Technology won approval for a Shanghai STAR Market listing on Monday, meaning all four of China’s best known domestic GPU startups are now pursuing public market financing as they seek to challenge United States’ dominance in artificial intelligence computing. The approval marks a milestone for China’s so called “GPU four tigers”…

Danish pharmaceutical giant to expand production lines in China’s Tianjin

TIANJIN — Danish pharmaceutical giant Novo Nordisk announced Monday that it will inject an additional 200 million yuan (around $29.4 million) into its production base in North China’s Tianjin municipality, expanding drug production and ramping up assembly and manufacturing capacity of its related injection pens. Once completed, the expansion project will further lift the production…

Hong Kong to launch CGB futures to bolster RMB asset appeal

Hong Kong is set to launch futures contracts based on renminbi treasury bonds on Aug 3, enriching offshore hedging tools for managing exposure to RMB assets and marking a milestone in the city’s efforts to support yuan internationalization. The product, announced by Hong Kong’s Securities and Futures Commission on Thursday, will use five-year China Government…