Alibaba's $2 billion gaming exit signals where Beijing wants its money
The e-commerce giant sells its gaming studio and pours $53 billion into AI as the US-China tech rivalry heats up
Fortune ·
Beijing is stepping up efforts to widen the role of the yuan in international trade, allowing its domestic commercial banks to expand direct settlement arrangements with a growing number of foreign currencies, including the baht, aiming to reduce usage of the US dollar as an intermediary in cross-border trade.