Technology

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Mar 29, 2024

Smartphone maker Xiaomi makes waves in crowded EV market with its keenly priced SU7 model

Xiaomi off to a flying start in EV sector with its new SU7, which is priced to take on Tesla’s Model 3 in the competitive Chinese market.

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Mar 29, 2024

Shanghai planning US$13.8 billion fund of funds in pursuit of ‘several world-class industry clusters’, with eye on AI, biotech and semiconductors

Mainland China’s commercial and financial hub plans to set up a 100 billion yuan (US$13.8 billion) fund of funds focusing on key technology sectors to fire up the local economy.

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Mar 29, 2024

Huawei’s 2023 profit more than doubles, as a sales rebound helps tech giant hack a profitable path out of US sanctions

Net profit for the year soared to 87 billion yuan, up 144.5 per cent from 2022, partly due to recurring gains from its sale of budget smartphone unit Honor and other assets.

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Mar 29, 2024

Alibaba’s Taobao cuts fees for merchants and subsidises content as it seeks to protect its market lead, reports say

Taobao is cutting fees and investing in content creation as it moves to fend off rivals including PDD, Douyin and Kuaishou.

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Mar 28, 2024

Xiaomi surprises with lower-than-expected pricing on new EVs, in new challenge to Tesla

Chinese smartphone giant Xiaomi has launched its much-awaited first electric vehicle, pricing the standard model at 215,900 yuan (US$29,867) to take on Tesla’s Model 3 in the world’s largest EV market.

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Mar 28, 2024

Alibaba-controlled hypermarket operator Sun Art appoints new CEO amid restructuring and rising competition

The CEO change at Sun Art comes as Alibaba continues to adjust its offline retail businesses as part of a sweeping group-wide restructuring.

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Mar 28, 2024

Alibaba’s AliExpress eyes European success with Euro2024 football sponsorship, after rival Temu cracked US market with Super Bowl ads

Alibaba’s e-commerce platform AliExpress is betting on the European market by sponsoring Euro 2024, a move that comes after its rival Temu cracked the US market through ads that ran in the Super Bowl.

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Mar 28, 2024

China's latest EV is a 'connected' car from smart appliance maker Xiaomi

Xiaomi, a well-known maker of smart consumer electronics in China, is joining the country’s booming but crowded market for electric cars

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Mar 28, 2024

China's latest EV is a 'connected' car from smart phone and electronics maker Xiaomi

Chinese smart consumer electronics maker Xiaomi is joining China's booming but crowded market for electric cars with a sporty high-tech sedan

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Mar 28, 2024

Amazon invests US$2.75 billion more in OpenAI rival Anthropic to boost generative AI efforts

The capital infusion brings Amazon’s total investment in Anthropic, whose other investors include Google, to US$4 billion.

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