29 June 2025

China already has de facto stablecoins in the form of WeChat Pay and Alipay, a top economist at the country’s leading investment bank has argued – amid growing calls for Beijing to quickly adapt to the global rise of digital assets. “From an economic perspective, money based on third-party payment platforms functions much like stablecoins […]

China still lags behind the US in artificial intelligence (AI) chips, but the country is rapidly catching up in algorithms amid an intense technological race between the world’s two largest economies, according to renowned computer scientist Harry Shum Heung-yeung. AI competition encompassed three key aspects: chips, algorithms, and applications – and the US was “clearly”