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The Latest Breaking News from China

China's State-Sponsored AI Claims it Will Surpass ChatGPT by End of Year

State-sponsored Chinese company iFlytek made waves with the launch of its "Spark Desk", an AI system designed to compete directly with OpenAI’s ChatGPT. But the company claims more than that, it claims Spark Model will dethrone ChatGPT by the end of the year.

Tom’s Hardware

Bill Gates says a pause on new A.I. research may be useless, even damaging

Experts are in the dark about the future of A.I., but it may already be a runaway train.

Fortune

Biden to be first sitting US president to visit Papua New Guinea

Announcement comes as Washington has increasingly sought to shore up influence in the Pacific to counter China.

Al Jazeera

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China builds simulated moon chamber to prep for crewed lunar landings (video)

Chinese scientists have built a chamber to simulate the conditions on the surface of the moon to help prepare the country for future crewed lunar exploration.

Space

China: Tesla EV Retail Sales And Exports Were Balanced In April 2023

Last month, Tesla's local sales in China amounted to 39,956 MIC cars, while exports amounted to 35,886.

InsideEVs

Canada ‘will not be intimidated’ by China, PM Trudeau says

Canada-China relations hit a new low amid tit-for-tat diplomat expulsions linked to alleged Chinese interference.

Al Jazeera

El Chapo’s son, Sinaloa members face sanctions over fentanyl

The United States has sanctioned a son of Mexican drug lord Joaquin “El Chapo” Guzman, three members of the Sinaloa cartel and two Mexican-based firms, alleging they trafficked fentanyl and other drugs into the U.S. Tuesday's sanctions came the day Mexican President Andrés Manuel López Obrador was talking with President…

The Independent UK

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3 Best Energy Stocks to Buy Now

Increased oil demand from China amid production cuts could raise the growth prospects for the energy sector. Given this backdrop, quality energy stocks North American Construction Group (NOA), Ranger Energy Services (RNGR), and Graham Corporation (GHM) could be solid portfolio additions now. Read on….

StockNews.com

iPhone maker Foxconn buys huge site in Devanahalli

Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Bengaluru, the key Apple supplier said in a filing on Tuesday (May 9) as it looks to diversify production away from China.

The Hindu

Dollar Strength and China Economic Concerns Weigh on Crude Prices

June WTI crude oil (CLM23 ) this morning is down -1.51 (-2.06%), and June RBOB gasoline (RBM23 ) is down -3.37 (-1.37%). June Nymex natural gas (NGM23 ) is down -0.013 (-0.58%). Crude oil and gasoline prices this morning are moderately lower. A stronger dollar today is weighing on energy...

Barchart

Chinese Stocks and FXI

Markets reflect the economic and geopolitical landscapes, and while China’s economy may be recovering, tensions between Washington, DC, and Beijing have caused investors to shun Chinese stocks. The FXI is an ETF product that holds Chinese large-cap stocks that trade on the U.S. and international equity exchanges.

Barchart

Three scenarios for the next phase of the Ukraine war and what each means for China

Beijing is positioning itself to increase its global power at the end of the Ukraine war. But the question right now for China’s president Xi Jinping is which scenario is most likely to happen, what role China can play, and what each outcome will mean for China.

The Conversation

How China makes economic plans: key moments explained

A meeting of some of China’s most senior politicians at the end of April 2023 concluded with a fairly cautious assessment of the country’s economic recovery. Things are improving, they said, but domestic demand needs to improve.

The Conversation

China denies threatening Asean-India naval drills

BEIJING: China’s foreign ministry on Tuesday dismissed accusations that boats belonging to a Chinese maritime militia had deliberately approached an area of the South China Sea where the navies of Indian and Asean countries were holding drills.

Bangkok Post

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Barchart

Stocks Under Pressure from U.S. Debt Ceiling Impasse and Weak Chinese Imports

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.44%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.15%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.56%. U.S. stocks this morning are moderately lower. A drop...

Reuters

Japan working towards opening of NATO liaison office in Tokyo

Japan is working towards the opening of a NATO liaison office in Tokyo, Japan's ambassador to the U.S. Koji Tomita said on Tuesday.

The Independent UK

China says it won't seek to benefit from war in Ukraine

China’s foreign minister says his country has no intention of benefiting from the war in Ukraine and hopes for further talks on a peace plan Beijing proposed earlier this year

Reuters

Biden to visit Papua New Guinea in a presidential first after G7

U.S. President Joe Biden will become the first U.S. sitting president to visit Papua New Guinea this month with a trip following the G7 in Japan, marking the administration's investment in the Pacific region to counter China.

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The Hindu

Tapping the nascent market for donkey milk in Andhra Pradesh

Donkey milk is the latest fad in Andhra Pradesh, with a litre of the milk fetching close to 2,000. However, concerns remain over illegal slaughter of the animals which could see a drastic fall in their numbers, similar to what occurred in China.

Reuters

China says it's in touch with all parties in seeking Ukraine ceasefire

Chinese Foreign Minister Qin Gang said on Tuesday that Beijing would maintain lines of communication with all parties to the war in Ukraine, including Germany, in seeking a ceasefire.

Reuters

Canada will not be intimidated by China, says PM Trudeau

Prime Minister Justin Trudeau said on Tuesday Canada will not be intimidated by retaliation from China after Beijing expelled a Canadian diplomat in a tit-for-tat response to Ottawa's decision to expel a Chinese diplomat on Monday.

Barchart

Markets Today: Stocks Slip as Bank Stocks Fall and Chinese Imports Plunge

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are down -0.33%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.50%. U.S. stock index futures this morning are moderately lower. A drop of more than -15% in PacWest Bancorp in pre-market trading is leading regional bank...

Wales Online

LinkedIn cuts more than 700 jobs and winds down China app

The professional networking platform has become the latest tech giant to announce redundancies

TechRadar

Why is TikTok being targeted by the RESTRICT Act?

The new bill seems to be the US government's best shot to finally ban TikTok for all Americans. But, how did we get here?

Reuters

Australia to boost Pacific, defence spending in budget

Australia said on Tuesday that it would spend billions of dollars to improve ties with neighbouring Pacific nations and shore up its defence capabilities, as it looks to counter China's growing strategic influence in the region.

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