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☆ Republicans Agree on Foreign Policy — When It Comes to China - The New York Times
▼ + stars: | 2023-08-31 | by ( Peter Beinart | ) www.nytimes.com time to read: +3 min

Understanding why Republicans prioritized China then helps explain why they’re prioritizing it now. Many of America’s most influential Asia Firsters — like the Time magazine publisher Henry Luce — were either the children of American missionaries in China or had served as missionaries there themselves. The John Birch Society, whose fervent and conspiratorial brand of anti-Communism foreshadowed the right-wing populism of today, took its name from an Army captain and former missionary killed by Chinese communists at the end of World War II. It boasts much of the world’s economic, political and military power, which is why the Biden administration focuses on the region, too. In March, a Gallup poll found that while Democrats were 23 points more likely to consider Russia a greater enemy than China, Republicans were a whopping 64 points more likely to say the reverse.

Persons: Robert Taft, “ Mr, H, Alexander Smith, Truman, William Knowland, Joyce Mao, Chiang Kai, shek, Asia Firsters, Henry Luce —, John Birch, Biden, Mao, fixate, Vladimir Putin, Xi Jinping Organizations: Republican, NATO, Foreign Policy, Armed Services Committee, Nationalist, Republicans, Communist, Time, John, John Birch Society, Army, Gallup Locations: Europe, Formosa, ”, Taiwan, China, Asia, United States, Pacific, Washington, Beijing, Russia

☆ Taiwan warns of 'sharp increase' in tensions as Chinese planes cross median line
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Airplane is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsTAIPEI, Aug 29 (Reuters) - Taiwan's defence ministry warned on Tuesday of a possible "sharp increase" in military tensions after reporting renewed Chinese military activity including fighter jets crossing the sensitive median line of the Taiwan Strait. The ministry said that on Tuesday morning it spotted 12 Chinese military aircraft in its air defence identification zone, of which seven crossed the median line - six J-10 fighters and a single drone. The median line had for years served as an unofficial barrier between the two sides, until China's air force began regularly crossing it a year ago. Taipei city councillors for Taiwan's governing Democratic Progressive Party issued a joint statement saying Chiang should "speak for the Taiwanese people" and demand an end to China's military activities.

Persons: Dado Ruvic, Chiang Wan, Chiang, Ben Blanchard, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Rights, Communist, Kuomintang, Democratic Progressive Party, Thomson Locations: Rights TAIPEI, Taiwan Strait, Taiwan, China, Beijing, Taipei, Shanghai

☆ Taiwan warns of surge in tensions as Chinese planes cross median line
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Airplane is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsTAIPEI, Aug 29 (Reuters) - Taiwan's defence ministry warned on Tuesday of a possible "sharp increase" in military tensions after reporting renewed Chinese military activity including fighter jets crossing the sensitive median line of the Taiwan Strait. The ministry said that on Tuesday morning, it spotted 12 Chinese military aircraft in its air defence identification zone, of which seven crossed the median line - six J-10 fighters and a single drone. The median line had for years served as an unofficial barrier between the two sides, until China's air force began regularly crossing it a year ago. Taipei city councillors for Taiwan's governing Democratic Progressive Party issued a joint statement saying Chiang should "speak for the Taiwanese people" and demand an end to China's military activities.

Persons: Dado Ruvic, Chiang Wan, Chiang, Ben Blanchard, Muralikumar Anantharaman, Simon Cameron, Moore, Bernadette Baum Organizations: REUTERS, Rights, Communist, Kuomintang, Democratic Progressive Party, Thomson Locations: Rights TAIPEI, Taiwan Strait, Taiwan, China, Beijing, Taipei, Shanghai

☆ Shares of BYD jump after Chinese EV maker posts 200% surge in first half profit
▼ + stars: | 2023-08-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Shares of Chinese automaker BYD listed in China jump more than 5% Tuesday, a day after posting a stellar jump in first half profit. Thanks to record deliveries, the Chinese electric car maker on Monday posted a 204.68% jump in net profit for the first half of the year — that's net earnings of 10.95 billion yuan ($1.50 billion) in the January to June period, compared to 3.59 billion yuan a year earlier. Hong-Kong listed shares of the automaker rose 5.6% while stocks in Shenzhen were up as much as 4.75% on Tuesday. Revenue in the first six months increased 72.72%, compared to the first half of 2022, according to the stock filing. "BYD is targeting mass market where Tesla cannot reach," said Vivek Vaidya, associate partner at Frost & Sullivan, on CNBC's "Street Signs Asia" Tuesday.

Persons: BYD, Jiong Shao, China's, Tesla, Vivek Vaidya, Frost & Sullivan, Vaidya Organizations: British, Farnborough International Exhibition, Kong, Barclays, Frost &, Tesla Locations: Farnborough, England, China, Shenzhen

☆ AI needs 'human control' to avoid being weaponized, says Microsoft's president
▼ + stars: | 2023-08-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

"We have to ensure that AI remains subject to human control. Generative AI is a type of artificial intelligence technology that can generate content such as text, images, code and more. AI impact on jobsMeanwhile, the explosive growth of AI has workers worrying that their jobs could be replaced by the technology. A Goldman Sachs report in March said generative AI could impact as many as 300 million jobs around the world. The Microsoft executive pointed out that AI is a tool that supplements human work, and not one that replaces jobs.

Persons: Brad Smith, Smith, it's, we've, CNBC's Martin Soong, We've, Goldman Sachs Organizations: CNBC, Tech, Microsoft Locations: New Delhi

☆ Microsoft's president on fresh bid for Activision Blizzard: 'Up to the regulators' to decide
▼ + stars: | 2023-08-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

watch nowMicrosoft says it "really tried" to take the concerns of U.K. regulators to heart, before launching its fresh bid to take over Activision Blizzard — and it's now up to the regulators to decide whether that path is clear. "I think we need to let the regulators speak for themselves," Microsoft's vice-chairman and president Brad Smith told CNBC in an exclusive interview. Last Tuesday, Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. Brad Smith Microsoft's vice-chairman and presidentOn regulatory concerns, Smith said: "We haven't tried to dismiss them.

Persons: it's, Brad Smith, we've, Brad Smith Microsoft's, Smith, haven't, We've, CNBC's Martin Soong Organizations: Microsoft, Activision Blizzard, CNBC, Activision, Markets Authority, Nurphoto, Activision PC, Ubisoft, CMA Locations: New Delhi

☆ Shares of China's food delivery leader Meituan fall more than 5% on weaker Q3 outlook
▼ + stars: | 2023-08-25 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Revenue was 67.96 billion Chinese yuan ($9.33 billion), up 33.4% from 50.93 billion yuan posted in the same period a year ago. The firm also swung to profit of 4.69 billion Chinese yuan for the second quarter, compared to a loss of 1.11 billion Chinese yuan a year ago. Many merchants had to suspend their business, while consumers chose to stock packaged food instead of ordering fresh food delivery. Meituan leads China's food delivery market, holding almost 70% of the market share in the mainland, according to a 2022 report on Meituan. Besides food delivery, the tech firm also operates various services including ride-hailing, on-demand delivery, hotel and travel booking, movie ticketing, entertainment and lifestyle services.

Persons: Yan Cong, Wang Xing, Wang, Meituan, Doksuri, Xiaolin Chen, Chen, CNBC's, Pony.ai Organizations: Bloomberg, Getty, Revenue, Consumers, Hong, HK, Fitch Locations: Beijing, China, Yan, Hong Kong, Tianjin, Hebei, Shanxi, Henan, KraneShares

Pheu Thai's Srettha Thavisin gestures at the party headquarters before a royal endorsement ceremony after Thailand's parliament voted in favour of his prime ministerial candidacy, in Bangkok, Thailand August 23, 2023. REUTERS/Athit Perawongmetha/File Photo Acquire Licensing RightsBANGKOK, Aug 25 (Reuters) - Thailand's new Prime Minister Srettha Thavisin visited the resort island of Phuket on Friday, a first official trip to underline plans to shore-up economic recovery by bolstering tourism, a key driver of growth. The state planning agency has since cut its growth projection to a 2.5% to 3.0% range from 2.7% to 3.7%. The government will then have to deliver policy objectives to a joint session of parliament before starting work, likely in late September. ($1 = 35.1100 baht)Reporting by Panu Wongcha-um and Panarat Thepgupmanat; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Pheu, Thailand's, Athit, Srettha Thavisin, Srettha, Chiang Mai, Panu, Martin Petty Organizations: REUTERS, Rights, Tourism, Thai Party, Thomson Locations: Bangkok, Thailand, Rights BANGKOK, Phuket, China, Phangnga

☆ South Korea's Naver launches generative AI services to compete with ChatGPT
▼ + stars: | 2023-08-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

South Korean internet giant Naver released its own generative artificial intelligence tool on Thursday, joining other companies in launching large language models to compete with OpenAI's ChatGPT. Naver is dubbed the Google of South Korea, as the operator of the country's top search engine. The company said its large language model HyperClova X can improve search as well as marketing and shopping experiences for advertisers and users. HyperClova X powers a slate of new applications Naver announced Thursday including generative AI search service Cue: and chat app Clova X.Naver said Clova X can increase work productivity by summarizing documents and running language translation. Naver said Clova X will start beta testing Thursday.

Persons: OpenAI's, Naver, Clova, Kim Yuwon, ChatGPT, —, Bard, Tongyi, Ernie Bot, Kim Organizations: CNBC Locations: South Korea

☆ Singapore's Grab says its ride-hailing unit is on track to hit pre-Covid levels by the end of the year
▼ + stars: | 2023-08-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Photographer: Ore Huiying/Bloomberg via Getty Images Ore Huiying | Bloomberg | Getty ImagesSingapore-based Grab said on Wednesday that its ride-hailing unit is on track to hit pre-Covid levels by the end of this year. Grab, which also offers food delivery and mobile payments, said that its mobility GMV has recovered to 85% of pre-Covid levels. We remain on track to exit 2023 at pre-Covid GMV levels. "We remain on track to exit 2023 at pre-Covid GMV levels," Oey said during Grab's earnings call on Wednesday. Grab's Hungate said driver supply levels are currently at 84% of pre-Covid levels and that the firm will "continue to focus on improving driver supply."

Persons: Alex Hungate, Peter Oey, Oey, GrabShare, Sachin Mittal, Grab's Hungate, Kai Wang, Jonathan Woo, Woo Organizations: Grab Holdings, Bloomberg, Getty, Getty Images, CNBC, DBS Bank, DBS, Trans, Morningstar Asia, Revenue, Phillip Securities Research Locations: Singapore, Getty Images Singapore, Malaysia, Thailand, Grab's U.S

☆ IBM CEO says AI will impact white-collar jobs first, but could help workers instead of displacing them
▼ + stars: | 2023-08-22 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

watch nowWhite-collar jobs will be among the first to be impacted by artificial intelligence, IBM chairman and CEO Arvind Krishna told CNBC in an exclusive interview aired on Tuesday. Arvind Krishna IBM chairman and CEOIn May, IBM announced WatsonX, an AI building tool that allows clients to build, train and deploy machine learning models. So that is where the 7,800 [number] came from," Krishna told CNBC's Martin Soong. AI potentialKrishna joined IBM in 1990, took over as CEO in April 2020 and has been chairman since January 2021. Arvind Krishna IBM chairman and CEO

Persons: Arvind Krishna, CNBC's, That's, Krishna, ChatGPT, Watson, It's, CNBC's Martin Soong, Lawrence Wong Organizations: IBM, CNBC, Lenovo, Watson Health, Bloomberg

BANGKOK, Aug 22 (Reuters) - When Thailand's deposed prime minister Thaksin Shinawatra went into self-imposed exile in 2008 facing a raft of corruption charges following his ouster in a military coup, he issued a hand-written note. Thaksin has been Thailand's most prominent politician for decades, retaining outsized influence despite the years away. "It closes a crucial chapter in Thailand's politics," Thitinan Pongsudhirak, a political scientist at Chulalongkorn University, said of Thaksin's return. A shrewd operator who rarely minces his words, an increasingly wealthy Thaksin entered politics in the mid-1990s, initially serving as foreign minister and then deputy prime minister. But the brash Thaksin, who called himself Thailand's first "CEO prime minister", faced royalist accusations that he was undermining the revered monarchy, which he denied.

Persons: Thailand's, Thaksin Shinawatra, Thaksin, Thaksin's, Yingluck Shinawatra, Critics, watchdogs, Chalinee, Chiang Mai, Love Thais, Devjyot Ghoshal, Chayut Setboonsarng, Panu, Robert Birsel Organizations: Thaksin, Chulalongkorn University, Thai, REUTERS, Rights, Shin Corporation, Thai Rak Thai, Singapore's Temasek, Premier League, Manchester City, Thomson Locations: BANGKOK, Bangkok, Thailand, Chiang, United States, Thai, Britain

☆ Chinese EV maker Xpeng expects cost cuts, Volkswagen deal to narrow losses
▼ + stars: | 2023-08-21 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

In this article 9868-HK Follow your favorite stocks CREATE FREE ACCOUNTA XPeng Inc. G6 electric sport utility vehicle (SUV). Qilai Shen | Bloomberg | Getty ImagesXpeng expects cost cuts and its Volkswagen partnership to narrow the firm's losses, the Chinese EV maker told CNBC in an exclusive interview on Monday. watch nowXpeng is attempting to revive its business this year, after its share price sank by more than 80% in 2022. BofA upgraded Xpeng from "neutral" to "buy" at $22 per share, up from its previous price target of $16.30 per share. BofA Securities in a May report said it expects China to hold 40%-45% market share in 2025.

Persons: Qilai Shen, Xiaopeng, Brian Gu, Xpeng, CNBC's, Gu, that's Organizations: HK, Inc, Bloomberg, Getty, Volkswagen, CNBC, U.S, Tesla, BofA Securities, Germany's Volkswagen, Global Locations: Hong Kong, China, Xpeng

☆ Taipei mayor to visit China as tensions simmer with Taiwan
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

Taipei Mayor Chiang Wan-an with his team after the annual Minan civilian defense drill, which this year focuses on the response from various agencies and volunteer groups if under attack by China in front of Taipei City hall in Taipei, Taiwan May 4, 2023. Taipei Mayor Chiang Wan-an, from the main opposition party the Kuomintang, which traditionally favours close relations with China, will go to Shanghai on Aug. 29-31 for the Taipei-Shanghai City Forum, which was first held in 2010. The Taipei city government said Chiang, a rising Kuomintang star, would lead the delegation to the forum, the theme of which this year is "new trends, new development". The Kuomintang has pushed to resume contacts with China since pandemic controls were lifted, saying that dialogue was needed now more than ever given the tensions over Taiwan. China, which claims the island as its territory, has been carrying out military activities near Taiwan, including regularly sending fighter jets into the air space around it.

Persons: Chiang Wan, Ann Wang, Tsai Ing, Taipei Mayor Chiang Wan, Chiang, Ma Ying, Ben Blanchard, Robert Birsel Organizations: REUTERS, Rights, Shanghai, Kuomintang, Forum, Thomson Locations: Taipei, China, Taipei City, Taiwan, Rights TAIPEI, Shanghai, Taipei Mayor, Taiwan's, Kuomintang

☆ Sea pivoted to growth over profits as it faced rising competition from TikTok, Lazada, analysts say
▼ + stars: | 2023-08-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

But analysts said the pivot is a move to defend market share. Defending your market share is the right strategy in e-commerce. CEO Shou Zi Chew said in June that TikTok would invest billions of dollars in Southeast Asia over the next few years to gain market share. Sea's decision to accelerate ecommerce investments in growth is likely to materially weigh on its earnings and share price in the near-term. "Sea's decision to accelerate ecommerce investments in growth is likely to materially weigh on its earnings and share price in the near-term," said JPMorgan.

Persons: Forrest Li, GoTo, Sachin Mittal, Woo, Li, JPMorgan, Jonathan Woo, Shou Zi Chew, TikTok, Alibaba's Lazada, Sea's Shopee, Lazada's GMV Organizations: Sea Ltd, Bloomberg, Getty, Local, DBS Bank, Phillip Securities Research, JPMorgan, Momentum Works Locations: Singapore, Lazada, Southeast Asia

☆ Asia promotes crypto clarity amid regulatory uncertainty in the U.S.
▼ + stars: | 2023-08-17 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Earlier this month, Hong Kong officially opened crypto trading to retail investors and upgraded licenses of two exchanges. "This will further boost investor confidence, making Hong Kong more attractive as a potential global virtual asset hub," said Lai. He concluded some crypto firms could leave the U.S. for more progressive jurisdictions as a result. Asia's regulatory clarityAcross the Pacific, Singapore and Hong Kong offer far more operational clarity for many industry players "Singapore has the first mover advantage in the Asia Pacific region, including being ahead of Hong Kong. watch nowSingapore's Payment Services Act — a framework for regulating payment services and the provision of crypto services to the public — came into effect in January 2020.

Persons: Ben Charoenwong, Lennix Lai, Lai, Ong Chengyi, Chainalysis, Hong, Blockchain.com, Ripple, Hong Kong, Janice Goh, Coinbase, Binance, Brad Garlinghouse, Goh Organizations: Getty, Nurphoto, National University of Singapore Business School, Monetary Authority of, Cavenagh, U.S . Securities, Exchange Commission, SEC, CNBC, MAS Locations: Victoria Harbour, Hong Kong, China, Asia, U.S, Hong Kong . Hong Kong, Singapore, Monetary Authority of Singapore, Thailand, Indonesia, Hong, Pacific

☆ Vietnamese EV maker VinFast is now worth more than Ford and GM after Nasdaq debut
▼ + stars: | 2023-08-16 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

On Tuesday, the Vietnamese electric vehicle maker listed on Nasdaq following the completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition. Following the market debut, VinFast is now currently worth $85 billion, according to CNBC calculations. The SPAC merger previously valued VinFast at approximately $23 billion, according to a June filing with U.S. securities regulator. Meanwhile, BMW and Volkswagen are both worth around $69 billion, according to Refinitiv data, with Ford at $48 billion and GM at $46 billion. VinFast is the automaking unit of Vietnamese conglomerate Vingroup and was founded in 2017.

Persons: Black Spade, VinFast, Tesla, BYD Organizations: Ford, GM, BMW, Volkswagen, Nasdaq, U.S, Spade, CNBC

☆ Vietnamese EV maker VinFast to begin trading on the Nasdaq Tuesday after completing SPAC merger
▼ + stars: | 2023-08-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A VinFast VF7 electric vehicle is seen during the 2023 Canadian International AutoShow in Toronto, Canada on Feb. 17, 2023. Vietnamese electric vehicle maker VinFast is expected to list on the tech-focused Nasdaq on Tuesday morning in New York, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition . On Monday, VinFast said in a joint statement with Black Spade Acquisition that it would commence trading on Aug. 15. The deal values VinFast at approximately $23 billion, according to a June filing with the U.S. Securities and Exchange Commission. Following the merger, Black Spade became a wholly owned subsidiary of VinFast and is expected to delist from the New York Stock Exchange, said the joint statement.

Persons: VinFast, Black Spade, Le Organizations: U.S, Spade, U.S . Securities, Exchange Commission, New York Stock Exchange, Thuy, CNBC Locations: Toronto, Canada, New York, VinFast

☆ SMIC posted a drop in second-quarter revenue on persisting weak chip demand
▼ + stars: | 2023-08-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

(Photo by VCG/VCG via Getty Images)Semiconductor Manufacturing International Corp. posted on Thursday a drop in second-quarter revenue against a backdrop of ongoing U.S. sanctions and a sluggish recovery in global chip demand. Net income was $402.76 million, down by 21.7% from the $514.33 million recorded in the second quarter of 2022. SMIC is China's biggest foundry, manufacturing semiconductor chips that other firms design. The Semiconductor Industry Association said that global sales of semiconductors totaled $124.5 billion during the second quarter of 2023. This represents a 4.7% increase from the first quarter but is 17.3% below the second quarter of 2022.

Persons: SMIC, Taiwan's, ASML Organizations: Semiconductor Manufacturing International Corporation, Getty, Semiconductor Manufacturing International Corp, Samsung, The Semiconductor Industry Association Locations: BEIJING, CHINA, Beijing, China, South, U.S

☆ Palantir's A.I. ambitions divide analysts. A bull and bear make their cases
▼ + stars: | 2023-08-08 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Alex Karp, chief executive officer of Palantir Technologies Inc., speaks during the 2023 CERAWeek by S&P Global conference in Houston, Texas, US, on Tuesday, March 7, 2023. Palantir Technologies raised its annual revenue target on Monday as it sees an opportunity to commercialize AI, but not all analysts are convinced. On Monday, CEO Alex Karp said Palantir's aim is to make money from AI, instead of merely producing tools that write computer-generated poetry. "We will figure out how to monetize it," Karp said, referring to Palantir's artificial intelligence platform, or AIP. Dan Ives, managing director at Wedbush Securities, is bullish on Palantir's AI ambitions.

Persons: Alex Karp, Karp, Dan Ives, That's, Ives, Palantir Organizations: Palantir Technologies Inc, P Global, Palantir Technologies, AIP, Wedbush Securities, U.S . Special Operations Command Locations: Houston , Texas, CNBC's

☆ Vietnam's EV ownership will see 'strong growth' in 2023, says new report
▼ + stars: | 2023-08-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Vietnam's electric vehicle market appears poised for rapid expansion in the next decade, but there could be significant headwinds blunting that growth. According to BMI Research, a Fitch Solutions research unit, passenger EV sales in the country is expected to at least double this year. "In 2023, we expect passenger EV sales to expand by 114.8% year-on-year to reach around 18,000 units," said BMI's report published Thursday. Specifically, sales for battery electric vehicle (BEV) could surge by 104.4% compared to the previous year to nearly 17,000 units, the report said. The penetration rate for passenger EVs — defined as passenger EV sales as a percentage of the country's total passenger vehicle sales — is set to increase to 13.6% by 2030.

Persons: BEV Organizations: BMI Research, Fitch Solutions, Vietnam Automobile Manufacturers Association, Electric Locations: Vietnam, That's

☆ Shares of China's second largest chip foundry Hua Hong jump 13% in Shanghai debut
▼ + stars: | 2023-08-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Shares of the chipmaker opened on the Nasdaq-style Star Market at 58.88 Chinese yuan, according to Refinitiv data. That's a 13.2% jump from its offer price of 52 Chinese yuan ($7.23). The Shanghai-listed shares have since pared gains and were trading lower at 53.99 Chinese yuan on Monday afternoon. Hua Hong's Shanghai debut raised 21.2 billion yuan ($2.95 billion) — in what was the largest IPO in mainland China so far this year, according to EY's global IPO report. SMIC raised 46.28 billion yuan ($6.62 billion) during its IPO in 2020.

Persons: Hua Hong, Hua Hong's, Chips, Hong, Phelix Lee, Lee, SMIC Organizations: Huahong Group, Huahong, Getty, Shanghai Stock Exchange's, Semiconductor Manufacturing International Corp, Nasdaq, Morningstar Asia, Hua Locations: Shanghai, China, Hua Hong's Shanghai, Hong Kong, Beijing

CFOTO | Future Publishing | Getty ImagesHigh-end focus aims to challenge AppleHuawei's strategy has become more refined, as it looks to compete in the premium segment of the smartphone market, rather than across all sectors. "Huawei's smartphones took the second spot in the high-end segment. The company released its Mate X3 foldable this year, and that device, along with the flagship P60, helped the company boost its premium segment share. "It totally makes sense for Huawei to focus on the premium segment. Software pushPart of Huawei's high-end strategy revolves around HarmonyOS, an operating system it says is designed for smartphones and other devices like wearables and TVs.

Persons: Yu, Will Wong, HarmonyOS, Celia, Huawei's, it's, Jia Yongli, Jia Organizations: Huawei, Getty, Apple, IDC, Huawei's, Reuters, CNBC, Software Locations: China

☆ Automakers promote advanced tech to compete in China — the world's top EV market
▼ + stars: | 2023-08-04 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Global electric vehicle makers are tapping advanced technology to vie with each other and domestic brands in the intensively competitive Chinese market. China is the world's largest EV market with 5.9 million units sold in 2022, capturing 59% of EVs sold globally, according to Canalys. Counterpoint Research data showed that domestic brands command 81% of the EV market, with BYD, Wuling, Chery, Changan and GAC among the top players. BofA Securities in a May report said it expects China to still be the world's largest EV market in 2025, standing at 40%-45% market share. China EV products are much more competitive than before, and China will continue to see EV penetration expanding, in our view," said the BofA Securities analysts.

Persons: EVs, Canalys Organizations: Inc, Shanghai Auto Show, Global, EV, Chery, Changan, GAC, BofA Securities, China EV Locations: Shanghai, China

☆ AMD says India is a key market for keeping up with the growing demand for high-tech chips
▼ + stars: | 2023-08-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Advanced Micro Devices needs India to keep up with the growing demand for its products, its executive vice president and chief technology officer told CNBC in an exclusive interview. On Friday, AMD announced its plans to invest approximately $400 million to continue its growth in India. And we're really pleased to be growing our investment in India — a huge part of our portfolio and product development," said Papermaster. And it couldn't come at a more needed time because the industry needs more AI computing power," said Papermaster. We now have the India design team touching almost every product that we develop in AMD," said Papermaster.

Persons: Mark Papermaster, we're, Papermaster, Ruben Roy Organizations: Devices, CNBC, AMD Locations: India, Delhi

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