(Bloomberg) — Tencent Holdings Ltd. and Alibaba Group Holding Ltd. are set to reveal their financial results, putting the $44 billion rally in China’s technology sector to the test. Expectations are high for Tencent to demonstrate strong growth due to cost reductions and a more favorable regulatory environment for gaming, which also benefits rival NetEase …
Apple CEO Tim Cook holds up a new iPhone 15 Pro during an Apple event on Sept. 12, 2023, in Cupertino, California. Justin Sullivan | Getty Images News | Getty Images Apple CEO Tim Cook cheered on gamers at an event during a surprise visit to China, highlighting the market’s significance to the iPhone giant …
Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Qilai Shen | Bloomberg | Getty Images Alibaba aims to prioritize the “user first” and “AI-driven” approach, according to the new CEO Eddie Wu, who recently addressed the employees. Wu, who assumed the role …
Tencent showcased its groundbreaking technology at the prestigious 2023 World Artificial Intelligence Conference, held in Shanghai on July 8, 2023. Renowned Chinese tech titan Tencent is poised to unveil its highly-anticipated artificial intelligence model, “Hunyuan,” specially tailored for business applications, at an exclusive summit on Thursday. Dowson Tong, CEO of Tencent’s cloud and smart industries …
In the Central district of Hong Kong on July 26, 2021, individuals were seen standing in front of an electronic display showing the Hang Seng Index. Stocks experienced a significant decline as China’s decision to reform the private education sector and prohibit tuition firms from making profits took its toll. This development resulted in Hong …
Tencent, one of China’s leading technology companies, recently reported its second-quarter profit, which fell below expectations. Despite this, the company experienced a rise in sales across its various businesses and began to see the positive impact of cost-cutting measures implemented last year. In Q2, Tencent’s revenue reached 149.21 billion Chinese yuan ($20.46 billion), representing an …
The powerful Cyberspace Administration of China has put forth a proposal to establish regulations that would limit the amount of screen time for individuals under the age of 18. These rules would restrict smartphone usage to a maximum of two hours per day for young people in China. This bold draft by the Cyberspace Administration …
The global fintech industry is thriving, with a diverse range of applications in finance. CNBC and Statista have collaborated to compile a list of the world’s top 200 fintech companies. The selection process involved evaluating key performance indicators such as user numbers, volumes, and revenues. To ensure comparability, the chosen companies have been divided into …
In this photo illustration, Elon Musk’s photo is displayed on a phone screen in front of a computer screen displaying the new logo of ‘Twitter’. Harun Ozalp | Anadolu Agency | Getty Images Elon Musk’s plans for Twitter, particularly the idea of transforming it into an “everything app,” have generated much discussion. Last October, Musk …
A Nanjing Road pedestrian street on October 1, 2022 in Shanghai, China. Yan Daming | Visual China Group | Getty Images Chinese stocks experienced a significant surge on Tuesday following Beijing’s commitment to implementing measures to strengthen the country’s struggling economy. The Hang Seng Index in Hong Kong rose by more than 3%, while China’s …