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The new data law is expected to provide a broad framework for future rules on Internet services, and to ring-fence, prise open and ease tracking of valuable data in the interests of national security.
HONG KONG: Alibaba Group Holding Ltd’s cloud division has pledged US$1bil (RM4.1bil) to support startups in Asia, marking one of its largest outlays since the tech giant pledged to boost spending and move past a bruising antitrust investigation at home.
China’s top-three tech firms Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Meituan have lost more than $400 billion in value from highs just four months ago.
US-China tech war: Beijing-funded AI researchers surpass Google and OpenAI with new language processing model
The WuDao 2.0 natural language processing model had 1.75 trillion parameters, topping the 1.6 trillion that Google unveiled in a similar model in January. China has been pouring money into AI to try to close the gap with the US, which maintains an edge because of its dominance in semiconductors.
Three companies have been granted licences to test self-driving delivery vehicles at an economic and technological development zone. China is under pressure to develop autonomous technology as its population ages and labour pool shrinks.
Beijing’s crackdown on its tech giants is fuelling a noticeable phenomenon: it’s opened the spending floodgates.
HONG KONG: Kuaishou Technology reported a 37% gain in quarterly revenue, after the rival to TikTok-owner ByteDance Ltd delved deeper into online commerce and advertising.
China’s Internet watchdog said on May 21 it had found Bytedance’s Douyin, Microsoft Bing, LinkedIn and 102 other apps were engaged in improper collection and use of data and ordered them to fix the problem.
SHangHAI: ByteDance Ltd founder Zhang Yiming will cede the reins of TikTok’s owner to an old college roommate and lieutenant, stepping back from running the world’s most valuable startup ahead of its highly anticipated market debut.
Ant Group Co.’s profit rose to US$3.4 billion in the December quarter after Chinese regulators thwarted its record initial public offering and told it to scale back its sprawling business