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China May Own More Artificial Intelligence Patents Than US By Year-End

China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.

China To Challenge US Leadership In AI? Not So Fast

There have been a lot of discussions on China’s rising prowess in artificial intelligence, on how the Chinese are catching up or even surpassing the U.S. in leading the world’s most important future technology trend. The concerns are so real that the U.S. government is reportedly looking to strengthen scrutiny of Chinese investments in American AI companies.

Swedish Minister Says Chinese Investors Welcome In Home Of Nobel Prize

Sweden may not be the most populous of nations, with just 9.8 million people. But the country that brought us the the Nobel Prize for science has given birth to a disproportionately high number of tech giants. Skype, the Internet calling service bought by Mcirosoft, digital music service Spotify, popular mobile game Candy Crush and Minecraft developers King and Mojang, are all Swedish entities.

Russia, China Sets Up $10B Fund To Support One Belt One Road

The Russian Direct Investment Fund (RDIF) and China Development Bank (CDB) have agreed to establish a RMB68 billion (US$10 billion) China-Russia RMB Investment Cooperation Fund, as part of China’s One Belt One Road initiative to improve connectivity between Eurasian countries.

China’s Massive Business Incubator Ecosystem Attracts Silicon Valley

Major international business incubators are expanding into the Chinese market, adding to what is already the world’s biggest business incubator ecosystem. At the end of 2015, China had a combined 4,875 incubators, the most of any nation, and up from just 1600 in 2014, according to Zero2IPO Research Center. Foreign firms are adding to the growing market. Plug and Play Tech Center entered China on a large scale in 2016. The Silicon Valley-based venture fund/innovation platform connects startups to corporations …

China’s Rise In Global M&A Is Here to Stay After Historic 2016

China surpassed the U.K. to become the second largest outbound investor behind the U.S. in 2016, cementing its positing as a leading player in the global M&A market. The nation also saw its outbound investment surpass that of inbound deals for the first time ever, according to a report by law firm White & Case LLP and Rhodium Group.

China And Israel To Invest $10M To Establish Three AI Centers

Zong Qinghou, a renowned Chinese entrepreneur with a net worth of US$7.2 billion and chairman of Hangzhou-based beverage company the Hangzhou Wahaha Group Co., Ltd., has teamed up with Chinese Academy of Sciences and the University of Haifa in Israel to invest US$10 million to establish three artificial intelligence centers in Beijing, Hangzhou and Haifa.

China’s Chengdu City Spending $2.19B To Enhance Tech Innovation

An economic development zone in Chengdu city, the capital city of Sichuan province in Western China, plans to invest US$2.19 billion before 2020 to entice and recruit talent from around the globe, as well as enhancing its technological innovation competitiveness, the city announced today.

CIC, Silk Road Fund Team Up With ARM To Establish $800M Innovation Fund

China Investment Corporation, Silk Road Fund, Singapore’s Temasek Holdings, ARM Holdings plc and two other investors have established a fund targeted to raise US$800 million to invest in the mobile Internet, Internet-of-Things (IoT) and artificial intelligence sectors globally. Shenzhen government-owned conglomerate Shum Yip Group Ltd. and Chinese private equity firm Hopu Investment Management Co are also backers of the Shenzhen-based vehicle named Hou An Innovation Fund, according to an announcement posted on China’s Ministry of Science and Technology’s website. ARM …

As E-Commerce Matures, Alibaba Counts On Non-Core Business For Future Growth

Alibaba Group Holding’s results for the quarter ended December 31, 2016 show that the Chinese online commerce giant continues to grow at an impressive rate, with total revenue of RMB53.2 billion (US$7.7 billion), an increase of 54% year-over-year. Revenue from its core e-commerce business, however, increased at a more moderate 42% year-over-year, while the company’s strongest revenue growth came from non-core businesses such as cloud computing and media and entertainment.

Four Things You Must Ignore In China’s Five-Year Plan

Investors need to sign out of social media and block the key word “Five-Year Plan” and “National People’s Congress” from their inbox for a week during China’s annual meetings of its political and business leaders, says Andrew Gilholm, managing Director at consulting firm Control Risk.

China’s First-Tier Cities To Benefit From Property Policy Easing

The Chinese government’s recently announced easing measures for the property could provide some modest support to growth in the remainder of the year, says a report by the Australia and New Zealand Banking Group Limited (ANZ). On March 30, the People’s Bank of China (PBoC) urged financial institutions to support home purchases using a combination of commercial lending and housing provident fund. Specifically, the down payment needed to buy second homes for investment purpose has been lowered to 40% from …

Citi Appoints Catherine Cai As Head Of China Investment Banking

Citi has appointed Catherine Cai as managing director, chairman and head of China investment banking, reporting to Mark Slaughter, head of corporate and investment banking for Citi in Asia Pacific, according to a company announcement. Catherine will oversee Citi’s China investment banking team, and continue the strong partnership between China investment banking and industry coverage, M&A and capital markets origination teams.

CITIC, Australia’s Village To Establish $500M Investment Fund

China’s state-owned conglomerate CITIC Group has agreed to jointly establish a series of investment funds with Australian entertainment firm, Village Roadshow Limited, to invest in theme parks, entertainment facilities and related real estate development throughout Asia, with a particular focus on China, according to a company announcement. The two parties will establish the first fund with approximately US$500 million, to be denominated in RMB, later in 2015. It will be followed by the creation of a number of future funds …

Alibaba Begins Drone Delivery Trials In China

Chinese e-commerce giant Alibaba Group Holdings says its Taobao Marketplace shopping site has partnered with Shanghai YTO Express Logistics Co. to begin a three-day trial of drone delivery technology in Beijing, Shanghai, and Guangzhou today, according to a company announcement. During the test, parcel-packing quad-copters will be used to ferry boxed sets of products high above city traffic to 450 Taobao shoppers.

Has China’s Central Bank Blinked?

China’s central bank has provided RMB500 billion of liquidity to the nation’s biggest five banks for RMB100 billion each, via its 3-month Standing Lending Facility (SLF). The amount is roughly equivalent to one 50 basis point rate cut in the commercial banks’ required reserve ratio (RRR). Has the People’s Bank of China finally blinked in the face of deteriorating economic conditions?