logo
China's Xi calls for self sufficiency in AI development amid US rivalry

China's Xi calls for self sufficiency in AI development amid US rivalry

HONG KONG: China's President Xi Jinping pledged 'self-reliance and self-strengthening' to develop AI in China, state media reported on Saturday, as the country vies with the U.S. for supremacy in artificial intelligence, a key strategic area.
Speaking at a Politburo meeting study session on Friday, Xi said China should leverage its 'new whole national system' to push forward with the development of AI.
'We must recognise the gaps and redouble our efforts to comprehensively advance technological innovation, industrial development, and AI-empowered applications,' said Xi, according to the official Xinhua news agency. Xi noted policy support would be provided in areas such as government procurement, intellectual property rights, research and cultivating talent.
Some experts say China has narrowed the AI development gap with the United States over the past year. The Chinese AI startup DeepSeek drew global attention when it launched an AI reasoning model in January that it said was trained with less advanced chips and was cheaper to develop than its Western rivals. China has also made inroads in infrastructure software engineering.
Trump says Xi called him, lays out trade and other deal plans in TIME interview
The DeepSeek announcement challenged the assumption that U.S. sanctions were holding back China's AI sector amid a fierce geopolitical tech rivalry, and that China lagged the U.S. after the breakthrough launch of OpenAI's ChatGPT in late 2022.
'We must continue to strengthen basic research, concentrate our efforts on mastering core technologies such as high-end chips and basic software, and build an independent, controllable, and collaborative artificial intelligence basic software and hardware system,' Xi said.
He added that AI regulations and laws should be speeded up to build a 'risk warning and emergency response system, to ensure that artificial intelligence is safe, reliable, and controllable.'
Xi said last year that AI shouldn't be a 'game of rich countries and the wealthy,' while calling for more international governance and cooperation on AI.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Toronto stocks jump as US inflation data keep rate-cut hopes alive
Toronto stocks jump as US inflation data keep rate-cut hopes alive

Business Recorder

time2 hours ago

  • Business Recorder

Toronto stocks jump as US inflation data keep rate-cut hopes alive

Canada's main stock index edged higher on Tuesday, as benign U.S. inflation data reinforced expectations for an interest-rate cut by the country's Federal Reserve in September. At 09:50 a.m. ET (1350 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 0.26% at 27,847.43 points and was trading near record levels. The communications sector led the advances on TSX by rising 1.24%, followed by a 0.8% rise in healthcare. A Labor Department report showed U.S. consumer prices rose 0.2% in July after a 0.3% gain in June. On a year-over-year basis, CPI advanced 2.7%, slightly below the 2.8% forecast from economists polled by Reuters. The data maintained the case for a Fed rate cut next month, according to traders' bets in futures markets. 'Inflation is on the rise, but it didn't increase as much as some people feared,' said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. 'In the short term, markets will likely embrace these numbers because they should allow the Fed to focus on labor-market weakness and keep a September rate cut on the table.' An additional boost came from seemingly subsiding trade tension between the world's top two economies. U.S. President Donald Trump extended a tariff truce with China to November 10, averting triple-digit duties on Chinese goods. Canada's materials index added 0.5%, thanks to rising copper prices due to the China tariff deadline extension. However, the trade tension between China and Canada showed no signs of easing. Beijing announced a preliminary anti-dumping duty on Canadian canola imports, a fresh escalation in a year-long trade dispute that began with Ottawa's imposition of tariffs on Chinese electric vehicle imports last August. In other stocks, Gildan Activewear fell more than 9% after the Financial Times reported that the apparel manufacturer is nearing an about $5 billion deal to acquire Hanesbrands, including debt.

KSE-100 closes above 147,000 for first time in history
KSE-100 closes above 147,000 for first time in history

Business Recorder

time3 hours ago

  • Business Recorder

KSE-100 closes above 147,000 for first time in history

The Pakistan Stock Exchange (PSX) continued its record-breaking rally as its benchmark KSE-100 Index closed Tuesday's session above 147,000, another all-time high. The KSE-100 started the session with a strong buying spree, hitting an intra-day high of 147,976.98, followed by selling in the latter hours, which erased most of the earlier gains. However, at close, the benchmark index still managed to closed above 147,000 for first time in history. It settled at 147,005.32, up by 75.48 points or 0.05%. Positive momentum in BAFL, HBL, and SYS provided a combined uplift of 295 points, offering partial reprieve against broader market weakness. In contrast, significant downward pressure stemmed from FFC, MARI, OGDC, PSO, and BAHL, which together shaved off 527 points from the benchmark, brokerage house Topline Securities said in its post-market report. Analysts attributed the investor optimism to encouraging corporate earnings and reports of upcoming US investments in Pakistan's energy sector. In an informal discussion upon his return from the United States, Finance Minister Muhammad Aurangzeb said that Pakistan will soon receive encouraging news of substantial investments across various sectors from the US. The minister described the trade talks with the US as a major success for the country, noting that Pakistan is moving in the right direction and the results will be visible soon. On Monday, the bulls stamped their authority on the PSX, as the benchmark KSE-100 Index surged 1,547.05 points, or 1.06%, to close at 146,929.84. Globally, most Asian stocks rose on Tuesday, buoyed by an extension of a tariff truce between the world's two largest economies, while Japanese shares hit an all-time peak, powered by tech shares after returning from a long weekend break. US President Donald Trump extended a tariff truce with China by another 90 days on Monday, staving off triple-digit duties on Chinese goods, a move that was largely expected by investors and markets. Investor sentiment in recent weeks has been supported by expectations of rate cuts by the US Federal Reserve, resilient US corporate earnings, and clarity on US trade levies on trading partners. Japan's Nikkei climbed to a record high and was last up 2% as the country's markets reopened after a public holiday on Monday, tracking other global indices this year. Australia's benchmark index also hit a record high, ahead of a monetary policy meeting at which the central bank is widely expected to cut interest rates. That left MSCI's broadest index of Asia-Pacific shares outside Japan a tad higher. China's blue-chip stocks were flat while Hong Kong's Hang Seng index eased 0.1% in early trading. Meanwhile, the Pakistani rupee maintained its upward momentum against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday. At close, the currency settled at 282.42, a gain of Re0.03. Volume on the all-share index increased to 691.66 million from 611.21 million recorded in the previous close. The value of shares rose to Rs44.58 billion from Rs44.00 billion in the previous session. Yousuf Weaving was the volume leader with 46.27 million shares, followed by Kohinoor Spining with 39.95 million shares, and Invest Bank with 34.39 million shares. Shares of 482 companies were traded on Tuesday, of which 208 registered an increase, 242 recorded a fall, while 32 remained unchanged.

Oil prices hold steady as US and China extend tariffs deadline
Oil prices hold steady as US and China extend tariffs deadline

Business Recorder

time3 hours ago

  • Business Recorder

Oil prices hold steady as US and China extend tariffs deadline

LONDON: Oil prices were little changed on Tuesday after the United States and China extended a pause on higher tariffs and data showed a rise in U.S. inflation in July. Brent crude futures lost 36 cents, or 0.54%, to $66.27 a barrel by 1240 GMT. U.S. West Texas Intermediate crude futures eased by 45 cents, or 0.7%, to $63.51. U.S. President Donald Trump extended a tariff truce with China to November 10, staving off triple-digit duties on Chinese goods as U.S. retailers prepared for the critical end-of-year holiday season. This raised hopes that an agreement could be reached between the world's two largest economies and avert a virtual trade embargo between them. Tariffs risk slowing global growth, which could sap fuel demand and drag oil prices lower. U.S. consumer prices increased in July as tariff-induced rising costs for imported goods helped to drive the strongest gain in six months for one measure of underlying inflation. Also potentially weighing on the oil market, Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss an end to the war in Ukraine. The U.S. has stepped up pressure on Russia to end the conflict, with Trump setting a deadline of last Friday for Russia to agree to peace in Ukraine or have its oil buyers face secondary sanctions. He has also pressed India and China to reduce their purchases of Russian oil. 'If Friday's meeting brings a ceasefire or even a peace deal in Ukraine closer, Trump could suspend the secondary tariffs imposed on India last week before they come into force in two weeks,' Commerzbank said in a note. 'If not, we could see tougher sanctions against other buyers of Russian oil, like China.' Elsewhere, the Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. OPEC's monthly report on Tuesday said that global oil demand will rise by 1.38 million barrels per day (bpd) in 2026, up 100,000 bpd from the previous forecast. Its 2025 projection was left unchanged.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store