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REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBEIJING, Oct 12 (Reuters) - China has published proposed security requirements for firms offering services powered by generative artificial intelligence, including a blacklist of sources that cannot be used to train AI models. Generative AI, popularised by the success of OpenAI's ChatGPT chatbot, learns how to take actions from past data, and creates new content like text or images based on that training. The committee proposes conducting a security assessment of each body of content used to train public-facing generative AI models, with those containing "more than 5% of illegal and harmful information" to be blacklisted. The draft rules also state that information censored on the Chinese internet should not be used to train models. The draft security requirements published on Wednesday require organisations training these AI models to seek the consent of individuals whose personal information, including biometric data, is used for training purposes.
Persons: Dado Ruvic, OpenAI's, Eduardo Baptista, Jane Merriman, Jan Harvey Organizations: REUTERS, Rights, National Information Security, Cyberspace Administration of China, CAC, Ministry of Industry, Information Technology, Baidu, HK, U.S, Thomson Locations: Rights BEIJING, China
China News Service | China News Service | Getty ImagesBEIJING — Chinese authorities are signaling a softer stance on once-stringent data rules, among recent moves to ease regulation for business, especially foreign ones. But foreign businesses have found it difficult to comply — if not operate — due to vague wording on terms such as "important data." The country's top executive body, the State Council, in August revealed a 24-point plan for supporting foreign business operations in the country. The text included a call to reduce the frequency of random inspections for companies with low credit risk, and promoting data flows with "green channels" for certain foreign businesses. When U.S. Commerce Secretary Gina Raimondo visited China in August, she called for more action to improve predictability for U.S. businesses in China.
Persons: Reva Goujon, Goujon, Gabriel Wildau, Gina Raimondo, Martin Chorzempa, Samm Sacks, Yale Law School Paul, Chorzempa, Sacks, Beijing's Organizations: China News Service, Getty, Cyberspace Administration of China, Government, European Union Chamber of Commerce, CNBC, EU, State, China Corporate, CAC, State Council, Commerce, Peterson Institute for International Economics, Yale Law School, Yale Law School Paul Tsai China Center and New, Baidu Locations: Chongqing, BEIJING, China, Beijing, Covid, U.S, Yale Law School Paul Tsai China Center and New America
CNBC Daily Open: The September jobs report is key
  + stars: | 2023-10-06 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Bracing for the jobs reportU.S. stocks dipped slightly Thursday as investors braced for the September job report coming out today. JPMorgan Chase's Marko Kolanovic thinks the S&P 500 might be slammed by a 20% sell-off if high interest rates persist. In other words, the gap between cheap and expensive stocks is larger than usual — which gives value investors a "tremendous opportunity."
Persons: Hong, Tencent, JPMorgan Chase's Marko Kolanovic, I'm, Bill Nygren, Nygren Organizations: CNBC, Treasury, Administration, European Union Chamber of Commerce Locations: Asia, Pacific, China
The Cyberspace Administration of China (CAC) said it was considering waiving data export security assessments for activities such as international trade, academic cooperation, cross-border manufacturing and marketing that do not contain personal information or important data. Alex Roberts, a Shanghai-based lawyer at Linklaters, said the new rules are "a great signal for foreign investment and trade into China". You Yunting, a lawyer with Shanghai-based DeBund Law Offices, said the new rules "represents a certain degree of relaxation in data export regulation" in China. He added that the new rules could keep the cross-border transfer of human resources data low for companies. The previous rules were causing consternation among international businesses in China as some fear they could be cut off from assessing their human resources data from within China.
Persons: Alex Roberts, Brenda Goh, Josh Ye, Christina Fincher, Alison Williams Organizations: Cyberspace Administration of China, European, Reuters, Thomson Locations: SHANGHAI, HONG KONG, China, Shanghai, Linklaters, Hong Kong
China enforces new filing rules on smartphone app stores
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: 1 min
HONG KONG, Sept 27 (Reuters) - China's cyberspace regulator on Wednesday released the first batch of mobile app stores that have completed filing business details to regulators as it enforces a new set of rules to expand oversight on mobile apps. A total of 26 app stores operated by companies including Tencent (0700.HK), Huawei (HWT.UL), Ant Group(688688.SS), Baidu (9888.HK), Xiaomi (1810.HK) and Samsung (005930.KS) have submitted filings to the authority, according to the Cyberspace Administration of China (CAC). Notably, Apple's App Store is not among the app stores on the list. This comes after the CAC issued a new rule last June requiring mobile app distribution platforms to submit business details to the government as it expands oversight on mobile apps in the country. Reporting by Josh Ye; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
Persons: Josh Ye, Jacqueline Wong Organizations: Wednesday, HK, Huawei, Ant, Baidu, Samsung, Cyberspace Administration of China, CAC, Thomson Locations: HONG KONG, KS
China’s Didi Q2 revenue grows as regulatory curbs ease
  + stars: | 2023-09-09 | by ( ) www.reuters.com   time to read: +1 min
The Didi logo is seen on the facade of the company headquarters in Beijing, China November 9, 2021. Didi posted a net loss of 300 million yuan, the company said in a statement on Saturday. It was delisted from the New York Stock Exchange last year. Didi began to emerge from its regulatory troubles earlier this year, after China announced the end up of a cybersecurity investigation into the firm and allowed it to restore its apps to mobile app stores. ($1 = 7.3430 Chinese yuan renminbi)Reporting by Yelin Mo and Brenda Goh; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons: Didi Chuxing, Didi, Yelin Mo, Brenda Goh, William Mallard Organizations: REUTERS, Yilei, Rights, HK, SoftBank, Cyberspace Administration of, Reuters, New York Stock Exchange, China, Thomson Locations: Beijing, China, Rights BEIJING, Cyberspace Administration of China, U.S
An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Sept 1 (Reuters) - China's cyberspace regulator has received 110 applications from Chinese technology companies such as Huawei (HWT.UL) and Alibaba (9988.HK) for approvals related to models that can be used to manipulate visual and audio data. This approval process is separate from the CAC's regulation of Chinese tech firms looking to push out generative artificial intelligence (AI) products, which have been in high demand ever since the success of U.S. firm OpenAI's ChatGPT. Five Chinese tech firms, including Baidu Inc (9888.HK) and SenseTime Group (0200.HK), on Thursday launched AI chatbots to the public after receiving government approval. Reporting by Eduardo Baptista, Josh Ye, and Brenda Goh Editing by David Goodman and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly, OpenAI's, chatbots, Eduardo Baptista, Josh Ye, Brenda Goh, David Goodman, Mark Potter Organizations: Artificial Intelligence, REUTERS, Rights, Huawei, HK, Cyberspace Administration of China, CAC, Baidu Inc, SenseTime, Thomson Locations: Shanghai, China, Rights BEIJING
China publishes rules to boost data security in money brokering
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +2 min
SHANGHAI, Aug 30 (Reuters) - China published rules on Wednesday aimed at boosting data security in the money brokering industry, five months after a disruption in data services caused two days of chaos in the country's $21 trillion bond market. Five financial watchdogs, including the central bank as well as forex and securities regulators, urged interdealer brokers to improve data and risk management, and safeguard data security. Interdealer brokers, when offering data services, "must not endanger national security, financial safety and public interest," the regulators said in a joint statement. Chinese regulators in March suspended the data feed business of money brokers, citing data security concerns, triggering a slump in bond trading turnover as many traders lost immediate access to real-time data. China has in recent years grown more concerned over data security and rolled out new laws and compliance requirements for companies.
Persons: LSEG, Tullett, Jacqueline Wong, Muralikumar Anantharaman, Mark Potter Organizations: China Foreign Exchange Trade System, Shanghai Stock Exchange, Information Co, Refinitiv Information Services, Co, Bloomberg L.P, Thomson Reuters, London Stock Exchange, Reuters, NEX International, Partners, Central, Financiere, National Administration of Financial, Cyberspace Administration, Shanghai, Thomson Locations: SHANGHAI, China, LSEG ., Central Tanshi
A sign above an office of the Cyberspace Administration of China (CAC) is seen in Beijing, China July 8, 2021. REUTERS/Thomas PeterHONG KONG, Aug 10 (Reuters) - China cyberspace regulator issued a set of guidelines on Thursday targeting offensive comments against businesses on social media as Beijing seeks to improve the business environment. The Cyberspace Administration of China (CAC) said that online platforms should focus on addressing false and misleading information about businesses online. Offensive comments aimed at entrepreneurs and disclosure of private information about people on the internet should also be addressed. Reporting by Josh Ye; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
Persons: Thomas Peter HONG KONG, Josh Ye, Jacqueline Wong Organizations: Cyberspace Administration of China, REUTERS, Thomson Locations: Beijing, China
The process doesn't require passengers to remove masks for facial recognition. BEIJING — China is planning to restrict businesses' use of facial recognition technology in favor of non-biometric personal identification methods, according to draft rules from the Cyberspace Administration released Tuesday. The proposed policy requires individual consent, and a specific purpose, for using facial recognition. "If there are non-biometric verification technology for achieving a similar purpose or business requirements, those non-biometric verification methods should be preferred," the draft said in Chinese, translated by CNBC. If facial recognition is used, the proposed rules encourage use of national systems.
Organizations: Cyberspace Administration, CNBC Locations: Fuzhou, BEIJING — China
China drafts rules for using facial recognition technology
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +1 min
FILE PHOTO-A sign above an office of the Cyberspace Administration of China (CAC) is seen in Beijing, China July 8, 2021. REUTERS/Thomas Peter/File PhotoBEIJING, Aug 8 (Reuters) - China's cyberspace regulator said on Tuesday it has issued draft rules to oversee the security management of facial recognition technology in the country. It said facial recognition technology can only be used to process facial information when there is a specific purpose and sufficient necessity, and with strict protective measures. The use of the technology will also require individual's consent, the Cyberspace Administration of China said in a statement. If there are other non-biometric identification technology solutions available that can achieve the same purpose or meet equivalent business requirements, priority should be given to selecting that non-biometric identification technology solution, it said.
Persons: Thomas Peter, Liz Lee, Jacqueline Wong Organizations: Cyberspace Administration of China, REUTERS, Cyberspace Administration, Beijing, Thomson Locations: Beijing, China, BEIJING
Those between the ages of eight and 16 would be limited to using them for just one hour a day. China could restrict teenagers to using their phones for just one hour a day, under draft rules proposed by the country's cyberspace regulator. The Cyberspace Administration of China announced potential guidelines on Wednesday that include limits seeking to prevent "the problem of minors' internet addiction." That would also prevent children from using their phones between 10 p.m. and 6 a.m., except for education products and emergency services. The CAC's proposed rules are currently open for public consultation.
Persons: it's, Tencent Organizations: Cyberspace Administration, China Locations: China
Children under eight would be able to use their phones for only 40 minutes a day, while those between eight and 16 would get an hour of screen time. “On the other hand, it’s easier for us parents to control our kids screen time,” she said. China has one of the world’s largest internet user bases, with roughly 1.07 billion people in the country of 1.4 billion having access to the web, according to the China Internet Network Information Center. The regulation could be useful to “help parents to supervise the children” and limit screen time. Impact on tech firmsThe new measures could present challenges for tech companies, which are typically held responsible for enforcing regulations.
Persons: , , Kuaishou Organizations: Hong Kong CNN, Cyberspace Administration, , Mobile, CNN, China Internet Network Information, Apple, Huawei Locations: Hong Kong, China, Beijing, China’s Zhejiang, China’s Zhuhai, Weibo, lockstep
A man walks past an office of the Cyberspace Administration of China (CAC) in Beijing, China July 8, 2021. The appointed compliance agency must also evaluate services that own the data of more than 100,000 users, or those with sensitive data of more than 10,000 users, the CAC said. Services that hold data of fewer than 1 million users must undergo a personal information compliance check at least once every two years, the CAC said. China has in recent years tightened controls on data and information, especially data and information that flows abroad. The CAC last year required platform companies with data on more than 1 million users to undergo a security review before listing their shares overseas.
Persons: Thomas Peter BEIJING, Albee Zhang, Brenda Goh, Robert Birsel Organizations: Cyberspace Administration of China, CAC, REUTERS, Services, Thomson Locations: Beijing, China
Youngsters check mobile phones during a dinner time at a cafeteria in Shanghai, China September 3, 2021. Users aged 16 to 18 would be allowed two hours a day, children aged eight to 16 would get one hour while children under eight would be allowed just eight minutes. But the CAC said service providers should allow parents to opt out of the time limits for their youngsters. Xia Hailong, a lawyer at the Shanghai Shenlun law firm, said the rules would be a headache for the internet companies. The proposed rules come after signals from Beijing that a years-long regulatory crackdown on its technology industry has ended.
Persons: Aly, Hong Kong, Xia Hailong, ByteDance's, Josh Ye, Liz Lee, Jacqueline Wong, Robert Birsel Organizations: REUTERS, Cyberspace Administration of China, CAC, HK, Tencent Holdings, Authorities, Thomson Locations: Shanghai, China, Hong, Hong Kong, Beijing
The powerful Cyberspace Administration of China proposed rules that would limit the screen time of children aged under 18 years old. Chinese regulators have proposed rules that would limit the smartphone screen time of people under the age of 18 to a maximum of two hours per day. The radical draft rules laid out by the increasingly powerful Cyberspace Administration of China (CAC) highlight Beijing's desire to exert control over more parts of the country's digital life. In 2021, China introduced regulation that restricted teens under 18 years of age from playing online video games for more than three hours per week. The CAC warned online firms not to provide services that induce addiction or are detrimental to the physical and mental healthy of kids.
Organizations: Cyberspace Administration, Administration of China, CAC, China's Locations: China
“In the age of AI, where data is the new oil, China is the new Saudi Arabia”, venture capitalist Lee Kai-fu declared in 2018. Washington may soon tighten export restrictions to China by targeting AI semiconductors, according to the Wall Street Journal. A slowing economy and brutal price war in the fiercely competitive cloud market will only make monetising AI products harder. China’s AI moment has arrived, only with far less promise than initially hoped. China wants to become a world leader in AI by 2030, according to a 2017 roadmap released by the State Council.
Persons: Lee Kai, OpenAI's, Xi Jinping, Goldman Sachs, Robin Li, Baidu’s, Bernstein, SenseTime, Xi, Una Galani, Thomas Shum Organizations: Reuters, Saudi Arabia ”, OpenAI's ChatGPT, European Union, Baidu, HK, Nasdaq, Washington, Wall Street, Nvidia, AMD, Microsoft, CloudWalk Technology, Cyberspace Administration, China, State, Thomson Locations: HONG KONG, China, Republic, Saudi Arabia, United States, Beijing, York, Shanghai
HONG KONG, July 18 (Reuters) - China plans to appoint the CEO of state-owned telecoms giant China Unicom (0762.HK), (600050.SS), Liu Liehong, as the head of its new national data bureau, four sources said, putting him in charge of efforts to make the country a digital superpower. China announced plans for the data bureau in March as part of a sweeping government reshuffle. Its formation is part of efforts to achieve President Xi Jinping's vision of a "digital China", where data is managed alongside labour and capital as a key economic driver. China's internet regulator, the Cyberspace Administration of China (CAC), will also transfer some staff to the data bureau, said one source. "Whether Mr. Liu Liehong will take up any role in the National Data Bureau shall be subject to the decision of the PRC government," it added.
Persons: Liu Liehong, Liu, Xi, China Unicom, Julie Zhu, Kevin Huang, Jane Xu, Brenda Goh, Sam Holmes Organizations: HK, National Data Bureau, Reuters, China, Tech Development Department, Cyberspace Administration of China, CAC, Information Office, National, Bureau, China Electronics Technology Group Corporation, Ministry of Industry, Information Technology, Communist Party, Committee, Thomson Locations: HONG KONG, China, Hong Kong, Chengdu, Sichuan province
CNN —The bond and stock markets are finally seeing eye to eye when it comes to the Federal Reserve. Stocks and the 10-year Treasury’s real yield have begun moving inversely again, according to a research note from Morgan Stanley. That’s a reversal from earlier this year, when yields and stocks both moved higher. A concurrent rally both in bond yields and stocks is atypical. The Consumer Price Index report for June showed that annual inflation slowed to 3%, marking its lowest rate since March 2021.
Persons: Morgan Stanley, George Cipolloni, they’re, , Price, Michael Kushma, We’re, Laura He, Read, Goldman Sachs Organizations: CNN Business, Bell, CNN, Federal Reserve, Stocks, Valley Bank, Signature Bank, Penn Mutual Asset Management, Nasdaq, Cyberspace Administration, Financial Services, Bank of America, US Bancorp, Ally, American Express Locations: China
China also urges platforms to “participate in the formulation of international rules and standards” related to generative AI, it said. Generative AI tools like ChatGPT have taken the world by storm. Generative AI refers to the technology that underpins platforms like ChatGPT. In the global race to build guardrails for how governments tap AI, China had gained a significant head start, US Senator Mark Warner warned last month. So far, Baidu, Alibaba and JD.com’s generative AI services are either in the trial stage or being tested by corporate users.
Persons: , Olivier Morin, Mark Warner, Organizations: Hong Kong CNN, Cyberspace Administration, Ant, Baidu, Getty, China, Politico’s Global Tech Summit ., ” Citi, National Development, Reform Commission Locations: Hong Kong, China, Beijing, AFP, United States
China issues temporary rules for generative AI services
  + stars: | 2023-07-13 | by ( Josh Ye | ) www.reuters.com   time to read: +1 min
HONG KONG, July 13 (Reuters) - China issued a set of interim measures on Thursday to manage the booming generative artificial intelligence (AI) industry, paving the way for Chinese tech companies to roll out AI services in the country. The success of ChatGPT, a wildly popular chatbot developed by the Microsoft-backed OpenAI (MSFT.O), ignited a generative AI frenzy in China and worldwide. The internet watchdog said that AI services offered in the country need to be in line with China's socialist values. It said that regulators will "formulate corresponding classification and grading regulatory rules or guidelines" based on different generative AI technologies' characteristics and use cases. It also added that industry organisations, firms and research institutes that develop and apply generative AI tech but do not provide it to the public will not be subject to the measures.
Persons: Josh Ye, Himani Sarkar, Kim Coghill Organizations: Cyberspace Administration, Microsoft, Thomson Locations: HONG KONG, China
Chinese regulators on Thursday finalized first-of-its-kind rules governing generative artificial intelligence as the country looks to ramp up oversight of the rapidly-growing technology. The powerful Cyberspace Administration of China (CAC) said it worked with several other regulators to come up with the new regulation that will come into effect on Aug. 15. Generative AI is a fast-growing area of technology in which artificial intelligence services are able to generate content such as text or images. ChatGPT, developed by U.S. firm OpenAI, is the most well-known example and allows users to prompt the chatbot and receive replies to queries.
Organizations: Cyberspace Administration of China, U.S
July 11 (Reuters) - The Cyberspace Administration of China aims to create a system that will force companies to gain a licence before they can release generative artificial intelligence systems, the Financial Times said on Tuesday, citing people close to regulators. Reporting by Lavanya Ahire in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons: Lavanya, Muralikumar Organizations: Cyberspace Administration, China, Financial Times, Thomson Locations: Bengaluru
Here are five stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. In line with his investment thesis, Setyan reaffirmed a buy rating on the stock with a price target of $123. He explained that his price target reflects a premium valuation, which is "appropriate given our expectation of accelerating market share gains within casual dining for the foreseeable future." Feinseth reaffirmed a buy rating on CCL and boosted his price target to $23 from $13. Accordingly, he reiterated a buy rating and increased the price target to $490 from $365.
Persons: Sanjay Mehrotra, Micron Scott, Wall, Goldman Sachs, Toshiya Hari, Micron's, Hari, Nick Setyan, Setyan, Ivan Feinseth, Feinseth Organizations: Micron, Micron Scott Mlyn, CNBC, Nasdaq, Cyberspace Administration, Tigress, CCL Locations: China, TipRanks, Texas, MDB
Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on the chipmaker after its earnings report Wednesday. JPMorgan reiterates Amazon as overweight JPMorgan said it's bullish heading into Amazon Prime Day in July. Bank of America reiterates Nvidia as buy Bank of America said it sees "AI networking upside" after a meeting with company management. Piper Sandler initiates TJX Companies as overweight Piper said the discount retailer is a top idea for the second half. Deutsche Bank reiterates Pentair as buy Deutsche Bank said Pentair is more than just a pool company.
Persons: Morgan Stanley, Freyr, Goldman Sachs, Goldman, China —, it's, Collette Kress, Networking Gilad Shainer, NVDA, OSK, Piper Sandler, Piper, KeyBanc, Pentair, Oppenheimer Organizations: Micron, Cyberspace Administration, JPMorgan, Amazon, " Bank of America, Nvidia, Bank of America, Networking, TAM, JPMorgan downgrades, Citizens, 2Q, Citi, Netflix Citi, Netflix, UBS, Warner Music, Deutsche Bank, Oshkosh Deutsche Bank, TJX Companies, DIS, Suisse, Pfizer, Credit Suisse, pharma, Spotify, FV Locations: China, 3Q22
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