NEWS

Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures to serve as his artificial intelligence and cryptocurrency tsar, a newly created position that underscores the US president-elect’s intent to boost two rapidly developing industries. “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the […]

A key House Republican criticised the Biden administration’s latest attempt to curtail China’s chipmaking ambitions, saying US rules unveiled Monday leave loopholes that will let Chinese companies like Huawei Technologies continue acquiring American technology. Representative John Moolenaar, who chairs the chamber’s China Select Committee, expressed his concerns in a letter Wednesday to Commerce Secretary Gina

The US spared China’s top producer of dynamic random-access memory (DRAM) from its latest round of chip export restrictions because of opposition from Japan, according to sources. The US Commerce Department’s Bureau of Industry and Security on Monday imposed an export ban on China over 24 types of chipmaking equipment and three categories of software

Semiconductor development in China is facing more headwinds after Washington introduced new measures that restrict the export of 24 types of chipmaking equipment to the country and added 140 chip-related domestic entities to a US trade blacklist, according to analysts. After China moved to ban the export of several rare earth minerals to the US,

The Hong Kong government has published a stablecoin bill in the gazette, taking the proposed regulatory regime a step closer to legal force, as the city moves to balance financial stability and consumer protection while promoting its agenda on virtual assets. The publication follows the public consultation between the city’s financial affairs office, the Hong

Huawei Technologies gained more ground in mainland China’s high-end smartphone segment in the third quarter, narrowing the gap with US rival Apple, which still leads that handset category, the latest data from research firm Canalys showed. Shenzhen-based Huawei’s domestic shipments of premium-priced smartphones – handsets that cost more than US$600 – surged 34 per cent

In a major blow to TikTok, the US Court of Appeals for the District of Columbia Circuit ruled on Friday that the popular short-video app – used by more than 170 million Americans daily – can be banned in the US as soon as January 19 unless it secures a non-Chinese buyer. The three-judge panel

Hong Kong officials and industry insiders touted the city’s cryptocurrency trials and regulatory stability as strengths for the market at the Belt and Road Forum on Thursday, as the crypto euphoria surrounding the re-election of Donald Trump to the US presidency pushed the price of bitcoin past US$100,000 this week. “Trump is unpredictable. He may

Chinese sellers on overseas shopping sites, from Temu to Amazon.com, are struggling to turn a profit during this year’s Black Friday sales, as fierce competition and narrowing margins take a toll on their earnings. A clothing factory owner in the southern trade hub of Guangzhou, surnamed Xie, said Black Friday sales at his Temu store

Ant Group, China’s biggest operator of mobile payment systems, is promoting its finance chief Cyril Han Xinyi to the CEO post from next year to freshen its top management and drive the next phase of growth after more than 20 years in business. Han, the group’s current president and chief financial officer, will take over