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Canada News.Net
4 days ago
- Business
- Canada News.Net
Australian PM reaches China, focuses on business ties
BEIJING, China: Australian Prime Minister Anthony Albanese started a weeklong visit to China over the weekend. The visit aims to revitalize economic relations and expand cooperation between the two nations. The trip marks a significant moment in the ongoing thaw in relations following years of diplomatic strain. Albanese's first official engagement was a meeting in Shanghai on July 13 with Chen Jining, the city's Communist Party Secretary. The meeting is the first in a series of high-level discussions, including planned talks with President Xi Jinping, Premier Li Qiang, and Zhao Leji, Chairman of the National People's Congress. "This is a very large business delegation, which underscores the significance of our economic relationship," Albanese said in an interview with Chinese state broadcaster CGTN shortly after landing in Shanghai. During the visit, Albanese is expected to meet business, tourism, and sports leaders in Shanghai and Chengdu. On Tuesday, he will attend a CEO roundtable in Beijing, part of an effort to expand commercial dialogue and investment opportunities. One notable development so far has been the signing of an agreement between Chinese travel giant and Tourism Australia, aimed at boosting Chinese tourism to Australia. The deal reflects a mutual interest in reviving travel and people-to-people exchanges that were disrupted during the COVID-19 pandemic. This is Albanese's second trip to China since his center-left Labor Party returned to power in 2022. The government was reelected with a stronger mandate in May, reinforcing its approach of steady engagement and pragmatic diplomacy with Beijing. Under Albanese's leadership, Australia has made significant progress in mending ties that had deteriorated during the tenure of the previous conservative administration. At the height of the tensions, Beijing had cut off ministerial communication and imposed a wide array of trade restrictions—both formal and informal—that severely affected Australian exporters, with estimated annual losses of more than 20 billion Australian dollars (US$13 billion). The diplomatic freeze was triggered by a range of contentious issues, most notably Australia's call for an independent international inquiry into the origins of COVID-19. Since taking office, however, Albanese has sought to rebuild trust while also reducing Australia's overreliance on its largest trading partner. "My government very much values our relationship with China," Albanese said during his meeting with Chen. "We engage calmly and consistently. It's in our national interest to have strong relations with China, and we will continue to pursue those interests constructively." Chinese state media echoed the positive tone. An editorial by Xinhua News Agency on Saturday described bilateral ties as "steadily improving" and gaining "fresh momentum." The visit is widely seen as an essential step in reinforcing economic ties while maintaining a careful balance between strategic independence and commercial cooperation. As Australia navigates a complex regional environment, Albanese's approach underscores a return to dialogue and diplomacy to manage one of the country's most critical relationships. "There are no fundamental conflicts of interest between China and Australia," the editorial stated. "By managing differences through mutual respect and focusing on shared interests, the two sides can achieve common prosperity and benefit."
Japan Today
4 days ago
- Business
- Japan Today
Nvidia's CEO says it has U.S. approval to sell its H20 AI computer chips in China
By ELAINE KURTENBACH Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used to develop artificial intelligence to China. The news came in a company blog post late Monday and Huang also spoke about the coup on China's state-run CGTN television network in remarks shown on X. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the post said. 'Today, I'm announcing that the U.S. government has approved for us filing licenses to start shipping H20s,' Huang told reporters in Beijing. He noted that half of the world's AI researchers are in China. 'It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market here in China,' he said. Huang recently met with Trump and other U.S. policymakers and this week is in Beijing to attend a supply chain conference and speak with Chinese officials. The broadcast showed Huang meeting with Ren Hongbin, the head of the China Council for Promotion of International Trade, host of the China International Supply Chain Expo, which Huang was attending. Nvidia is an exhibitor. Nvidia has profited enormously from rapid adoption of AI, becoming the first company to have its market value surpass $4 trillion last week. However, the trade rivalry between the U.S. and China has been weighing heavily on the industry. Washington has been tightening controls on exports of advanced technology to China for years, citing concerns that know-how meant for civilian use could be deployed for military purposes. The emergence of China's DeepSeek AI chatbot in January renewed concerns over how China might use the advanced chips to help develop its own AI capabilities. In January, before Trump began his second term in office, the administration of President Joe Biden launched a new framework for exporting advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about the technology with the economic interests of producers and other countries. The White House announced in April that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China. Nvidia had said the tighter export controls would cost the company an extra $5.5 billion, and Huang and other technology leaders have been lobbying President Donald Trump to reverse the restrictions. They argue that such limits hinder U.S. competition in a leading edge sector in one of the world's largest markets for technology. They've also warned that U.S. export controls could end up pushing other countries toward China's AI technology. AP researcher Yu Bing in Beijing contributed. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Time of India
5 days ago
- Automotive
- Time of India
Nvidia's China chip approval: Company wins US nod to export AI chips to China, says H20 shipments to start soon
Pic credit- AP Nvidia CEO Jensen Huang said the company has secured approval from the Trump administration to begin selling its advanced H20 chips to China, paving the way for resumed exports of its AI hardware to a key international market. 'The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the company said in a blog post on Monday. Huang, currently in Beijing, also confirmed the development on Chinese state-run CGTN and in remarks shared on social platform X, AP reported. 'Today, I'm announcing that the US government has approved for us filing licenses to start shipping H20s,' Huang told reporters in Beijing. 'It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market here in China,' he added, noting that half the world's AI researchers are based in China. Huang meets Chinese officials Huang is in China to attend a supply chain conference and meet with local officials. CGTN aired footage of him meeting Ren Hongbin, chairman of the China Council for the Promotion of International Trade and organiser of the China International Supply Chain Expo, where Nvidia is one of the exhibitors. The approval comes after Huang's meeting with President Donald Trump and other US policymakers. The move follows export restrictions earlier this year that blocked sales of high-end AI chips, including Nvidia's H20 and AMD's MI308, to China. Industry pressures lead to policy shift The April decision to restrict chip exports had raised concerns across the tech industry. Nvidia warned the curbs would cost the company an estimated $5.5 billion in revenue. Huang and other executives have since pressed the administration to ease the restrictions, arguing that tighter controls would hurt American companies and shift demand to non-US suppliers. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Chicago Tribune
5 days ago
- Business
- Chicago Tribune
After meeting with Trump, Nvidia CEO says the sale of AI chip is back on in China
BANGKOK — Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used to develop artificial intelligence to China. The news came in a company blog post late Monday and Huang also spoke about the coup on China's state-run CGTN television network in remarks shown on X. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the post said. 'Today, I'm announcing that the U.S. government has approved for us filing licenses to start shipping H20s,' Huang told reporters in Beijing. He noted that half of the world's AI researchers are in China. 'It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market here in China,' he said. Huang recently met with Trump and other U.S. policymakers and this week is in Beijing to attend a supply chain conference and speak with Chinese officials. The broadcast showed Huang meeting with Ren Hongbin, the head of the China Council for Promotion of International Trade, host of the China International Supply Chain Expo, which Huang was attending. Nvidia is an exhibitor. Nvidia has profited enormously from rapid adoption of AI, becoming the first company to have its market value surpass $4 trillion last week. However, the trade rivalry between the U.S. and China has been weighing heavily on the industry. Washington has been tightening controls on exports of advanced technology to China for years, citing concerns that know-how meant for civilian use could be deployed for military purposes. The emergence of China's DeepSeek AI chatbot in January renewed concerns over how China might use the advanced chips to help develop its own AI capabilities. In January, before Trump began his second term in office, the administration of President Joe Biden launched a new framework for exporting advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about the technology with the economic interests of producers and other countries. The White House announced in April that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China. Nvidia had said the tighter export controls would cost the company an extra $5.5 billion, and Huang and other technology leaders have been lobbying President Donald Trump to reverse the restrictions. They argue that such limits hinder U.S. competition in a leading edge sector in one of the world's largest markets for technology. They've also warned that U.S. export controls could end up pushing other countries toward China's AI technology. Nvidia's U.S. traded shares jumped nearly 5% before the opening bell.
The Hindu
5 days ago
- Business
- The Hindu
After meeting with Trump, Nvidia CEO says sale of AI chip back on in China
Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used to develop artificial intelligence to China. The news came in a company blog post late on Monday (July 15, 2025) and Mr. Huang also spoke about the coup on China's state-run CGTN television network in remarks shown on X. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the post said. 'Today, I'm announcing that the U.S. government has approved for us filing licenses to start shipping H20s,' Mr. Huang told reporters in Beijing. He noted that half of the world's AI researchers are in China. 'It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market here in China,' he said. Mr. Huang recently met with Mr. Trump and other U.S. policymakers and this week is in Beijing to attend a supply chain conference and speak with Chinese officials. The broadcast showed Mr. Huang meeting with Ren Hongbin, the head of the China Council for Promotion of International Trade, host of the China International Supply Chain Expo, which Mr. Huang was attending. Nvidia is an exhibitor. Nvidia has profited enormously from rapid adoption of AI, becoming the first company to have its market value surpass $4 trillion last week. However, the trade rivalry between the U.S. and China has been weighing heavily on the industry. Washington has been tightening controls on exports of advanced technology to China for years, citing concerns that know-how meant for civilian use could be deployed for military purposes. The emergence of China's DeepSeek AI chatbot in January renewed concerns over how China might use the advanced chips to help develop its own AI capabilities. In January, before Mr. Trump began his second term in office, the administration of President Joe Biden launched a new framework for exporting advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about the technology with the economic interests of producers and other countries. The White House announced in April that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China. Nvidia had said the tighter export controls would cost the company an extra $5.5 billion, and Mr. Huang and other technology leaders have been lobbying President Donald Trump to reverse the restrictions. They argue that such limits hinder U.S. competition in a leading edge sector in one of the world's largest markets for technology. They've also warned that U.S. export controls could end up pushing other countries toward China's AI technology. Nvidia's U.S. traded shares jumped nearly 5% before the opening bell.
