Technology


Ant Group ordered to restructure as a financial institution

Ant Group ordered to restructure as a financial institution

(ATF) China's central bank has ordered Ant Group to reorganise itself as a financial holding company, in a sweeping crackdown on Jack Ma's Ant Group, the fintech conglomerate that has spent months in the regulatory doghouse.The overhaul – which subjects Ant to tougher regulatory oversight and capital requirements – is …

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China tech startups favour Hong Kong over Mainland for IPOs 

China tech startups favour Hong Kong over Mainland for IPOs 

(ATF) A growing number of Chinese tech start-ups, fearing tighter scrutiny, are cancelling plans for an initial public offering (IPO) at home and eyeing a Hong Kong share sale instead.Prospective listers have been put off after the halting of Alibaba affiliate Ant Group's $37-billion float last year.More than 100 companies …

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China faces challenge as Europe energises EV market

China faces challenge as Europe energises EV market

(ATF) Car sales in China surged in March – powered by a jump in demand for electric vehicles (EVs) - as the world's biggest car market leads the recovery from the Covid-19 pandemic.Sales reached 2.53 million vehicles in March, up 74.9% year-on-year, data from the China Association of Automobile Manufacturers …

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US restricts trade with Chinese supercomputer centres

US restricts trade with Chinese supercomputer centres

(ATF) Washington has put China’s top supercomputing centres on a trade blacklist, saying they could have military applications that pose dangers to US national security.The seven Chinese entities’ addition to the list means they require special permission for exports and imports from the US."Supercomputing capabilities are vital for the development …

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Geely boss' Ecarx venture to provide high-tech chips for vehicles

Geely boss' Ecarx venture to provide high-tech chips for vehicles

(ATF) An automotive technology startup backed by internet giant Baidu and the chairman of Geely said on Tuesday it planned to supply much sought-after semiconductors through a joint venture (JV) with Arm China.Ecarx, founded in 2016, said the 7-nanometre (nm) chips would be used in smart cars and high-definition mapping …

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Hyundai Motor production hit as chip shortage worsens

Hyundai Motor production hit as chip shortage worsens

(ATF) South Korea's Hyundai Motor is expected to see production disrupted starting in April because of the widespread chip shortage affecting automakers worldwide, according to reports on March 24.Hyundai's inventory levels have become tight and the problem will soon start to slow production, the Financial Times reported.The company had been …

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Streaming service Netflix moves to stop password sharing

Streaming service Netflix moves to stop password sharing

(ATF) Netflix, the streaming entertainment platform that has been one of the big winners of the coronavirus pandemic, is moving to stop password sharing as it tries to expand user number growth.Some Netflix users who were apparently tapping into other people's accounts turned to Twitter to share news of an …

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EU plans to take on US and China for semiconductor supremacy 

EU plans to take on US and China for semiconductor supremacy 

(ATF) US tech giant Apple said on Wednesday it plans to invest more than a billion euros ($1.2 billion) in Germany and will open the biggest research facility in Europe next year on computer chips and mobile software. Apple said it would make Munich its "European Silicon Design Centre". The …

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'Explosive 5G growth' tipped as China targets Industrial Internet

'Explosive 5G growth' tipped as China targets Industrial Internet

(ATF) Xiao Yaqing, the Minister of Industry and Information Technology, says a comprehensive 5G network will be built during the 14th Five-Year Plan period, which runs till the end of 2025.Speaking on CCTV, Xiao Yaqing said the integration of various industries, enterprises and other areas will speed up in the …

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Stellantis chief executive vows to make China priority market 

Stellantis chief executive vows to make China priority market 

(ATF) Stellantis, the automotive powerhouse formed from France's PSA and the US-Italian Fiat Chrysler, has made the China market a top priority, its chief executive said on March 3.Carlos Tavares said the company will roll out a strategy for China, where some Stellantis brands have struggled more than rivals.He said …

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