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☆ Amazon, Microsoft, Google Pressured by Chinese Cloud Rivals in Southeast Asia
▼ + stars: | 2023-02-13 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

China’s Alibaba Cloud has pledged a new investment of $1 billion to support its global partners in the coming three years. SINGAPORE—U.S. cloud-computing companies, dominant globally, are facing intensifying competition from upstart Chinese rivals in Southeast Asia, offering a head-to-head look at how the two geopolitical rivals’ corporate champions stack up in a key technology. China’s Alibaba Group Holding Ltd., Huawei Technologies Co. and Tencent Holdings Ltd. are planning to invest hundreds of millions of dollars in Southeast Asia in the coming years.

☆ ChatGPT frenzy sweeps China as firms scramble for homegrown options
▼ + stars: | 2023-02-11 | by ( ) www.cnbc.com time to read: +3 min

Microsoft -backed OpenAI has kept its hit ChatGPT app off-limits to users in China, but the app is attracting huge interest in the country, with firms rushing to integrate the technology into their products and launch rival solutions. OpenAI or ChatGPT itself is not blocked by Chinese authorities but OpenAI does not allow users in mainland China, Hong Kong, Iran, Russia and parts of Africa to sign up. Dozens of bots rigged to ChatGPT technology have emerged on WeChat, with hobbyists using it to make programmes or automated accounts that can interact with users. ChatGPT supports Chinese language interaction and is highly capable of conversing in Chinese, which has helped drive its unofficial adoption in the country. SleekFlow, a Tiger Global-backed startup in Hong Kong, said it was integrating the AI into its customer relations messaging tools.

☆ ChatGPT frenzy sweeps China as firms scramble for home-grown options
▼ + stars: | 2023-02-10 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

[1/2] A response in Chinese by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. OpenAI or ChatGPT itself is not blocked by Chinese authorities but OpenAI does not allow users in mainland China, Hong Kong, Iran, Russia and parts of Africa to sign up. Dozens of bots rigged to ChatGPT technology have emerged on WeChat, with hobbyists using it to make programmes or automated accounts that can interact with users. ChatGPT supports Chinese language interaction and is highly capable of conversing in Chinese, which has helped drive its unofficial adoption in the country. CENSORSHIPReuters' tests of ChatGPT indicate that the chatbot is not averse to questions that would be sensitive in mainland China.

☆ China approves 87 new video games including titles by Tencent and Alibaba
▼ + stars: | 2023-02-10 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

[1/4] People play online games in an internet cafe in downtown Shanghai August 6, 2009. REUTERS/ Nir EliasHONG KONG, Feb 10 (Reuters) - China's video games regulator on Friday approved 87 new video games for the month of Feburary including titles under Tencent Holdings (0700.HK), Alibaba Group (9988.HK) and NetEase (9999.HK). Shenzhen-based Tencent, the world's largest gaming company, received at least one game licence for a mobile game named "Wangzhewanxiangqi", the list published by the National Press and Public Administration showed. Alibaba also received an approval for a game named "Chunqiuxuanqi". The authoriy granted NetEase a licence for its mobile game titled "Journey to the West: Shikong".

☆ Factbox: Chinese tech firms working on ChatGPT-style technology
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

[1/2] A response in Chinese by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. Like Microsoft and Google，Chinese tech giants such as Baidu and Alibaba (9988.HK) as well as smaller start-ups have been working on AI projects for years. The e-commerce giant said large language models and generative AI have been areas of focus since it formed its research institute Damo Academy in 2017. NETEASEGaming firm NetEase (9999.HK) plans to deploy large language models technology to serve its education business, a source familiar with the company told Reuters on Feb. 8. 360 SECURITY TECHNOLOGY INC360 Security Technology Inc (601360.SS) said on Feb. 8 it possessed language model technology but that it could not give a clear indication on when it would launch any related products.

☆ China’s video game makers come in from the cold as crackdown eases
▼ + stars: | 2023-01-20 | by ( Josh Ye | ) www.reuters.com time to read: +5 min

[1/2] The Tencent Games logo is seen on its game on a mobile phone in this illustration picture taken August 3, 2021. "We believe the approvals indicate a more benign regulatory environment for the China gaming industry," JP Morgan analysts wrote in a note on Wednesday. "With rich game supply, we are more positive on overall online game market growth during Chinese New Year, a traditional strong season for the China online game market." Whether the gaming market can return to form also depends on the recovery of the Chinese economy, which has been thumped by a surge in COVID infections. However, data shows China’s total gamer population remains stable, slipping just 0.33% in 2022 from 2021 to 664 million.

☆ Chinese companies set for biggest earnings growth in 5 years in 2023-Refinitiv data
▼ + stars: | 2023-01-19 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

Jan 19 (Reuters) - Chinese companies are expected to report their highest earnings growth in five years, Refinitiv data shows, as economic reopening after COVID lockdowns and accommodative monetary policy raise hopes for higher profits. According to Refinitiv IBES data, China's large and mid-cap companies' profits are seen rising 16.2% in 2023, the fastest growth since 2017. The Reuters analysis showed utilities, consumer staples and consumer discretionary sectors are expected to lead growth with their estimated profit growth of 34.5%, 33.5% and 27.8%, respectively. Meanwhile, the tech sector is expected to see earnings growth of 27% compared with 9.4% in 2022 while the property sector would witness 9.4% higher profits after a 4.9% drop last year. read more"We expect China to outperform Asia ex-Japan due to its faster-than-anticipated reopening, continuing domestic policy support, and potential for stronger earnings growth," said Mark Haefele, chief investment officer at UBS Global Wealth Management, in a note this month.

☆ The case for investing in China's reopening is strong. Here's how to proceed with caution
▼ + stars: | 2023-01-19 | by ( Patti Domm | In | ) www.cnbc.com time to read: +11 min

Strategists see China's markets easily scoring double-digit gains this year. The case for investing outside the U.S. is strong, particularly with the dollar coming off its highs and looking at further downside. "While China's reopening is undoubtedly a turning point, there remain reasons to be cautious," wrote Barclays equity strategists. But still the prospects for China's economy are much brighter than they were just several months ago. The Covid lockdown has been so damaging to the Chinese economy, they want to get back to a growth path in 2023."

☆ Tencent, NetEase shares rise as China gaming crackdown eases
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Jan 18 (Reuters) - Shares of Tencent Holdings (0700.HK), the world's largest gaming company, and smaller rival NetEase Inc (9999.HK) rose on Wednesday after China's video games regulator granted the first gaming licences in 2023, further easing an industry crackdown. Tencent's shares rose as much as 1.7% in early trade before paring gains, while NetEase's stock jumped as much as 5.8% to its highest in more than four months. Unlike in most other countries, video games need approval from regulators before release in China. Last month, China's move to grant publishing licences to 44 foreign games for domestic release was the strongest signal that the clampdown was ending. Regulators resumed issuing gaming licences to homegrown games last April, and the approval of foreign games was seen as the last regulatory curb to be removed.

☆ China approves 88 games in January, including titles by Tencent and NetEase
▼ + stars: | 2023-01-17 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

BEIJING, Jan 17 (Reuters) - China's video games regulator on Tuesday granted publishing licences to 88 online games, including titles belonging to Tencent Holdings Ltd (0700.HK), NetEase Inc (9999.HK) and miHoYo. Shenzhen-based Tencent, the world's largest gaming company, received at least one game licence for a mobile game named "Yuanmengzhixing", the list published by the National Press and Public Administration showed. NetEase, China’s second largest gaming company, also received a licence for a shooting game named "Chaofanxianfeng". miHoYo, the famed developer behind Genshin Impact, secured one licence for a game named Honkai: Star Rail. Unlike in most other countries, video games need approval from regulators before release in China, the world's largest gaming market.

☆ Kentucky bans TikTok from government-owned devices
▼ + stars: | 2023-01-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 13 (Reuters) - Kentucky is joining more than 20 U.S. states in banning the popular video app TikTok on government devices citing cybersecurity concerns. On Thursday, the governors of Wisconsin and North Carolina signed orders banning TikTok on government devices. Calls to ban TikTok from government devices gained steam after U.S. FBI Director Christopher Wray said in November it poses national security risks. Wray flagged the threat that the Chinese government could harness the app to influence users or control their devices. Last month, President Joe Biden signed into law a government funding bill that included a ban on federal employees from using or downloading TikTok on government-owned devices.

☆ China acquires 'golden shares' in two Alibaba units
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +3 min

[1/3] The logo of Alibaba Group is seen at its office in Beijing, China Jan. 5, 2021. REUTERS/Thomas PeterBEIJING, China, Jan 13 (Reuters) - China has acquired minority stakes with special rights in two domestic units of tech giant Alibaba Group Holding Ltd (9988.HK), business registration records showed, as Beijing extends a campaign to strengthen control over online content. Beijing has been taking 'golden shares' in private online media and content companies for more than five years, and in recent years expanding such arrangements to companies with vast troves of data. These golden shares, typically equal to about 1% of a firm, are bought by government-backed funds or companies which gain board representation and/or veto rights for key business decisions. Having such golden shares can be helpful to firms when they try to secure licences to disseminate online news and to show online visual and audio programmes, sources have told Reuters.

☆ China moving to take 'golden shares' in Alibaba, Tencent units - FT
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Tencent is seen at Tencent office in Shanghai, China December 13, 2021. REUTERS/Aly Song/File PhotoJan 13 (Reuters) - China is moving to take minority stakes with special rights in the local units of Alibaba Group Holding Ltd (9988.HK) and Tencent Holdings Ltd (0700.HK), the Financial Times reported on Friday. Seeking influence, Beijing began taking these stakes, called "golden shares," in private online media companies - usually about 1% of a firm - more than five years ago. These golden stakes are bought by government-backed funds or companies which gain a board seat and/or veto rights for key business decisions. However, the specifics of the government's plan to take golden shares in Tencent remain under discussion, but they will involve a stake in one of the group's main China operating subsidiaries, the report added.

☆ Analysis: Tencent bets big on WeChat Channels in push to build its own TikTok
▼ + stars: | 2023-01-13 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

"Tencent hopes it can turn Channels into the next WeChat Pay. Two sources familiar with Tencent said the importance of Channels has been repeatedly communicated within the company. In November, Tencent President Martin Lau said Channels' advertising revenue was on track to reach 1 billion yuan in the fourth quarter of 2022. "For example, in Douyin or Kuaishou, you won't be able to ask your viewers to add you on WeChat. But on Channels, you can quickly add somebody on WeChat," Yang said.

☆ Wisconsin governor signs order banning TikTok from state devices
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: 1 min

Jan 12 (Reuters) - Wisconsin Governor Tony Evers on Thursday signed an order banning use of the popular video app TikTok on government-owned and managed devices. In addition to banning Chinese-owned TikTok from state devices, the Democratic governor said he is was banning vendors, products and services from nine companies, including Huawei Technologies, Hikvision (002415.SZ), Tencent Holdings (0700.HK), ZTE Corporation (000063.SZ) and Kaspersky Lab. More than 20 other states have also banned TikTok from state devices. Reporting by David Shepardson; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Wisconsin governor bans TikTok from state devices on security concerns
▼ + stars: | 2023-01-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Jan 12 (Reuters) - Wisconsin Governor Tony Evers on Thursday signed an order banning TikTok on government-owned and managed devices due to cyber security concerns, joining other states and the federal government in prohibiting the use of the popular video app. In addition to banning Chinese-owned TikTok from state devices, the Democratic governor said he is was banning vendors, products and services from nine companies, including Huawei Technologies, Hikvision (002415.SZ), Tencent Holdings (0700.HK), ZTE Corporation (000063.SZ) and Kaspersky Lab. More than 20 other states have also banned TikTok from state devices including Ohio, New Jersey and Arkansas earlier this week. Republican governors have led the charge to ban TikTok from state devices and some Democratic governors have been slower to do so. Calls to ban TikTok from government devices gained steam after U.S. FBI Director Christopher Wray said in November it poses national security risks.

☆ New Jersey, Ohio join other states in banning TikTok from state devices
▼ + stars: | 2023-01-09 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 9 (Reuters) - New Jersey and Ohio said on Monday they were joining other states in banning use of the popular video app TikTok on government-owned and managed devices. Murphy's office said "there have been national security concerns about user data the Chinese government might require ByteDance to provide." On Friday, Wisconsin Governor Tony Evers said he planned to join other states in banning use of the popular video app that has more than 100 million U.S. users. Republican governors have led the charge to ban TikTok from state devices and some Democratic governors have been slower to do so. Calls to ban TikTok from government devices gained steam after U.S. FBI Director Christopher Wray said in November it poses national security risks.

☆ China regulator asks Futu and UP Fintech to stop soliciting mainland clients
▼ + stars: | 2022-12-30 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

Reuters reported earlier that Chinese officials were planning to ban online brokerages such as Futu Holdings Ltd and UP Fintech Holding Ltd from offering offshore trading services to mainland clients. The announcement also came a day after Futu, backed by Chinese internet giant Tencent Holdings, delayed its listing plan in Hong Kong. The company said it was “clarifying certain matters concerning the Group with the Hong Kong Stock Exchange”, in a filing to the Hong Kong bourse on Thursday night. Futu and UP Fintech Hong Kong have conducted cross-border securities businesses involving domestic investors without regulatory consent, contravening Chinese laws, the China Securities Regulatory Commission (CSRC) said in a statement. The CSRC will ask the brokerages to take corrective measures, such as to stop soliciting new business from mainland investors, the watchdog said.

☆ China to import 45 foreign video games, grants multiple licenses to Tencent
▼ + stars: | 2022-12-29 | by ( ) www.cnbc.com time to read: +1 min

China's video games regulator granted publishing licenses to 45 foreign games for release in the country including seven South Korean games, further lifting rigid curbs that have hammered the industry for 18 months. South Korean gaming stocks, including Netmarble, NCSOFT, Krafton, Kakao Games and Devsisters jumped between 2% and over 17% in morning trade on Thursday, a day after Chinese authorities granted publishing licenses. Among the imported online games approved by the National Press and Publication Administration are five to be published by Tencent Holdings such as "Pokémon Unite" by Nintendo and "Valorant" by Riot Games, according to a list the regulator released. The regulator also approved 84 domestic games for the month of December, according to a separate list released on Wednesday. The approval of imported games effectively marks the end of Beijing's crackdown on the video games industry which began last August when regulators suspended the game approval process.

☆ China Approves Foreign Videogames in Latest Breather for Tech Giants
▼ + stars: | 2022-12-28 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

Imported videogames have been an important source of income for large Chinese game companies. SINGAPORE—China has resumed granting publishing approvals for foreign videogames, ending a halt stretching back to June 2021 and removing a source of uncertainty for the country’s once-flourishing videogame industry. China’s main videogame regulator, the National Press and Publication Administration, said Wednesday that it had approved 45 imported titles, including “Pokémon Unite,” a multiplayer battle arena game co-developed by China’s Tencent Holdings Ltd. and Japan’s The Pokémon Co., and Riot Games Inc.’s first-person shooter game “Valorant.”

☆ China to import 45 foreign video games, grants multiple licences to Tencent
▼ + stars: | 2022-12-28 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

BEIJING, Dec 29 (Reuters) - China's video games regulator granted publishing licences to 45 foreign games for release in the country，including seven South Korean games, further lifting rigid curbs that have hammered the industry for 18 months. The approval of imported games effectively marks the end of Beijing's crackdown on the video games industry which began last August when regulators suspended the game approval process. Unlike in most other countries, video games need approval from regulators before release in China, the world's largest gaming market. Other imported games approved include CD Projekt's (CDR.WA) "Gwent: The Witcher Card Game" and Klei Entertainment's "Don't Starve". China approved 76 imported games in 2021 and 456 in 2017.

☆ Tencent chief blasts managers in fiery townhall - sources
▼ + stars: | 2022-12-23 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

In a rare show of frustration, Pony Ma said at a year-end meeting with staff on Dec. 15 that internal reviews this year had exposed unspecified corruption within Asia's biggest social media and gaming company, the sources said. Tencent reported a second straight quarterly revenue drop last month as China's economic slowdown and regulatory scrutiny hit its ad and gaming businesses. Up to the previous quarter, Tencent had reported double-digit growth for almost every three-month reporting period since going public in 2004. Ma, who mostly stays out of public view, also said the company needed to focus on short video for future growth, and described the WeChat Video Account, Tencent’s short video platform, as the "hope" of the Shenzhen-based company, the sources said. He warned that the video gaming business group would have to get used to Beijing’s strict licensing regime, and the number of new games China would approve would remain limited in the long run.

☆ Smartphone maker Xiaomi to slash 10% of jobs amid China's COVID battle
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

Dec 20 (Reuters) - China's Xiaomi Corp (1810.HK) has started laying off workers in its smartphone and internet services business, joining a long list of Chinese tech firms cutting jobs as the country battles COVID-19 outbreaks. China's social media platforms, including Weibo, Xiaohongshu and Maimai, have been flooded with posts about the job cuts this week. Chinese local media first reported on Monday that the job cut would affect 15% of Xiaomi's payroll, citing unnamed sources. Xiaomi in November reported a 9.7% fall in third-quarter revenue, hit by China's COVID-19 restrictions and softening consumer demand. Revenue from smartphones, which make up roughly 60% of its total sales, fell 11% year-on-year, Xiaomi said.

☆ Pelosi undecided if U.S. House will take up TikTok government device ban
▼ + stars: | 2022-12-15 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

House Republican Leader Kevin McCarthy said on Twitter Pelosi "should immediately allow an up-or-down vote" on the TikTok government device bill. It said the Senate bill "will do nothing to advance the national security of the United States." White House spokeswoman Karine Jean-Pierre Thursday declined to offer a view on whether Biden would support the TikTok legislation. Republican Senator Marco Rubio on Tuesday unveiled bipartisan legislation to ban TikTok altogether in the United States. At a hearing last month, FBI Director Chris Wray said TikTok's U.S. operations raise national security concerns.

☆ FTSE Russell, Ping An jointly launch China ESG indexes
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI, Dec 8 (Reuters) - Global index publisher FTSE Russell and Chinese financial conglomerate Ping An announced a partnership on Thursday to promote sustainable investment, launching a series of China indexes integrating environmental, social and government (ESG) considerations. The FTSE Ping An China ESG Index Series, which combines Ping An's China-specific ESG approach into FTSE Russell's China indexes, shows how Chinese and western institutions can join hands in sustainable investment, despite tensions over sensitive areas such as human rights and Communist Party control. The initial index launch will target onshore investors, but the multi-year partnership aims to ultimately serve international investors as well, said FTSE Russell, a unit of London Stock Exchange Group (LSEG.L). "It's really about leveraging the market-specific insights" that Ping An brings, said Helena Fung, Head of Sustainable Investment, APAC at FTSE Russell. In China, however, internet censorship is not factored into ESG considerations by domestic institutions.

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