Latest news with #Geng
NBC News
3 days ago
- Business
- NBC News
In China, ‘The Great American' burger is now made with Australian beef
At his restaurant in Beijing, Geng Xiaoyun used to offer a special dish of salt-baked chicken feet — or 'phoenix talons' as they are called in China — imported from America. With prices climbing 30% from March due to tariffs, the owner of Kunyuan restaurant had to pull the Chinese delicacy from the menu. 'American chicken feet are so beautiful,' Geng said. 'They're spongy so they taste great. Chinese [chicken] feet just aren't as good.' Geng can now source chicken feet from Brazil or Russia but said they just don't stand up to the American ones. He keeps a small stash for himself but hopes to serve his American phoenix talons once again. 'The price of American chicken feet will come back down,' he said, 'as long as there are no big changes in the world's political situation.' But the 90-day tariff pause agreed by China and the U.S. in Geneva in May is now under threat as both sides have accused each other of breaching the terms. On Monday, the Chinese Commerce Ministry responded to President Donald Trump 's claim that the country 'totally violated its agreement.' The ministry pointed at recent U.S. artificial intelligence chip export controls as actions that 'severely undermine' the Geneva pact. As the world waits and watches, American agricultural products have been vanishing from Chinese stores and restaurants and losing ground to other imports. U.S. Department of Agriculture grade beef has been a draw for years at Home Plate, a Beijing restaurant known locally for its American-style barbecue. However, staff said the restaurant stopped serving American beef last month. Dishes like 'The Great American' burger are made with beef imported from Australia. Australian beef has zero duty under the terms of the China-Australia Free Trade Agreement, though China does maintain the right to a safeguard limit on those imports. Liu Li, a beef supplier at the Sanyuanli market for three decades, said the tariffs have disrupted supply, hiking the price of U.S. beef by 50% compared to before the tariff fight. 'U.S. beef is fattier and tastier,' Li said. 'It's a shame we're in a trade war. The high price is just too much to bear.'
Borneo Post
29-05-2025
- Science
- Borneo Post
China strives to cultivate tech-savvy generation in AI-driven classrooms
A student operates an AI-powered VR device at Shenzhen Xiantian Foreign Language School in south China's Guangdong Province on March 21, 2025. – Xinhua photo GUANGZHOU (May 30): In a junior high school classroom in the southern tech hub of Shenzhen, a 14-year-old student surnamed Geng deftly adjusted the parameters of a neural network model, having previously used his AI-powered 'study buddy' to refine the narrative flow of his essay. In this classroom, students have learned to see the world through the eyes of a neural network. They were taught how AI models recognise digits from 0 to 9 based on their unique shapes like identifying a '7' by its vertical line and horizontal stroke, or a '2' by its curved body and top bar. Once confined to tech startups, such a scenario is now becoming a required course in some Chinese schools, as the nation pushes to make AI literacy as fundamental as math or literature. China's education authorities have pledged to universalise AI education in primary and secondary schools by 2030. In Shenzhen's Longgang District, 18 schools were selected to pilot AI-driven projects, including personalised homework systems and AI-powered essay grading. After two months of data training, the AI system, developed by Feixiang Xingqiu, is now able to tailor assignments to each student's needs. In the first three months of 2025, the Beijing-based education tech startup piloted its digital courses in over 1,000 schools, reaching 150,000 students nationwide. 'AI simulates the formation of human intelligence through learning, integrating knowledge and generating cognition. Therefore, the first field it embraces is education,' said Xiong Zhang, a computing professor at Beihang University. Yet, early introduction to AI for children is debated. Many experts warn that chatbot interactions may weaken a child's natural sense of wonder. 'In an era where AI can replicate human knowledge, education should shift its emphasis,' said Bai Fengshan, a professor from Tsinghua University. 'Given this shift, education should prioritise 'exploring the unknown,' especially in early childhood, rather than emphasising the acquisition of existing knowledge,' explained Bai, cautioning against premature AI exposure for children. Students attend a PE class with AI-powered devices at Shenzhen Longgang District Arts and Science School in south China's Guangdong Province on Jan 3, 2025. – Xinhua photo At the Qing Shui School in the western suburbs of Beijing, educators are designing lesson plans to leverage the strengths of AI while mitigating its potential drawbacks. Fifth-graders were initially allowed to observe how giant archer ants find their nest in the wild. Then, they used DeepSeek to design experiments with sugar water 'odor bridges' and alcohol 'odor erasers' to guide ants along paths. However, the AI plan failed to simulate real ant nest odors accurately, causing the ants to deviate. After refining their design, the students successfully replicated ant colony algorithms and learned that these algorithms can optimise 5G base stations, robotic collaboration and community logistics routes. The core value of AI-driven educational reform lies in cultivating 'authentic problem solvers' for the intelligent age, said Cao Yanyan, an education official in Mentougou District of Beijing. 'The goal is for students to acquire not just knowledge, but also systematic thinking and innovative methodologies,' Cao added. – Xinhua AI China education Xinhua
Business Times
01-05-2025
- Business
- Business Times
US tariffs provide opportunities for Greenlink Digital Bank: chairman
[SINGAPORE] The continued uncertainty with US tariffs could provide more opportunities rather than challenges to Greenlink Digital Bank (GLDB). GLDB chairman Geng Jing believes that the tariffs could spur deeper cooperation and trade between South-east Asia countries, as well as China. 'Tariffs will likely not have a short-term impact but a medium- to long-term one,' he told The Business Times. The bank aims to leverage the recently signed Further Upgrade Protocol to the China-Singapore Free Trade Agreement. Singapore is a bridge between China and the rest of South-east Asia, and this is a chance for GLDB to reach out to the rest of the region via the Republic. Beyond just South-east Asia, GLDB has also courted customers in India. GLDB's deposits currently stand at about S$806 million, from customers beyond just Singapore, but also from markets including Hong Kong, Australia and New Zealand. The bank's loan book has now hit about S$495 million, with loans not just to Singapore companies, but also to those in China, Australia, India, Canada and US. This is due to its supply chain financing business, which offers financing for suppliers to be paid before their buyers pay them after the goods are delivered. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up GLDB currently serves about 70 per cent of Singapore's small and medium-sized enterprises (SMEs). These SMEs are feeling the short-term impact from the US tariffs, with customers in the US ordering less, noted Geng. 'The worst we've heard is that the goods are already on the way and tariffs were raised, and the goods do not have a customer anymore,' he added. So far, GLDB's supply chain financing business, where the bank serves as co-buyer to facilitate cashflows, has no American exposure. These customers are mostly in Singapore, Malaysia and Indonesia. Excluding the SME customers who export electronics to the US, by and large most of GLDB's customers are largely unaffected by the US tariffs. The bank will continue to strengthen its supply chain financing ecosystem to serve SMEs. Looking ahead, GLDB is still on track to break even in FY2025, having swung into the black in the fourth quarter of 2024, said Geng. Its latest FY2024 results saw revenue surge to S$47.8 million from S$8.7 million in FY2023, and losses narrowing to S$5.1 million in FY2024 from S$29.7 million in FY2023. The bank is targeting a public listing on the Singapore Exchange by 2027 or 2028, making 2025 a pivotal year to break even before initial public offering preparations begin. Besides breaking even, GLDB is also looking for strategic investors who can add value. There are already ongoing discussions with potential investors, with GLDB aiming to choose between three and five strategic investors in the next 12 months. The bank is also looking to grow its blockchain solution for supply chain financing. In 2024, it built a digital trading token that can reduce time and cost. This could also ensure there is no 'double dipping' by securing financing with assets that have already been collateralised. With the solution, the token will show who the buyer is and who will make the final payment, and enhance the wider banking system and safety. GLDB showed the solution to the Monetary Authority of Singapore last year as part of its Digital Payment Token (DPT) licence application. 'We hope to get the DPT licence to quickly grab the opportunity to grow this solution this year,' said Geng.
Associated Press
21-04-2025
- Business
- Associated Press
J.P. Morgan Asset Management Hires Geng Ngarmboonanant to Multi-Asset Solutions Business
Seasoned economic policy expert to meet increased demand for macroeconomic and market-driven policy insights NEW YORK, April 21, 2025 /PRNewswire/ -- J.P. Morgan Asset Management today announced that Geng Ngarmboonanant will join the firm's Multi-Asset Solutions business as a managing director specializing in global business and investment strategy. Based in New York, Geng reports to Zachary Page, Head of Multi-Asset Solutions for the Americas. In this new role, Geng helps shape investment strategy through macroeconomic and policy research, and partners with clients to design tailored investment solutions. He will also drive business strategy and product innovation as part of the business leadership team. Geng joins J.P. Morgan from the U.S. Department of the Treasury, where he served as Deputy Chief of Staff to Secretary Janet L. Yellen. In this capacity, Geng served as a key advisor to Secretary Yellen on domestic and international economic policy issues, and played an important role in many of the Treasury Department's top economic initiatives from 2021 to 2025. This includes the response to the pandemic and market events, U.S.-China economic relations, housing and insurance markets, and artificial intelligence. Jamie Kramer, Chief Investment Officer and Global Head of Multi-Asset Solutions, said 'We are thrilled to welcome Geng to J.P. Morgan. His extensive background in economic policy will significantly enhance our ability to provide clients with deep, actionable insights. With the evolving global economic landscape, Geng's expertise will be invaluable in helping our clients understand and navigate a period of heightened volatility and uncertainty.' Multi-Asset Solutions is a $440 billion1 business, integrating a team of asset allocation specialists with the breadth and depth of J.P. Morgan's global investment platform, with over 500 investment strategies across asset classes, geographies and investment styles. The group seeks to create portfolios that access opportunities and solve challenges across the ever-changing investing landscape – including customized solutions and well-known strategies such as J.P. Morgan Income Builder, J.P. Morgan Global Allocation and the J.P. Morgan SmartRetirement series of target date funds. Geng Ngarmboonanant, Managing Director, Global Business and Investment Strategy, Multi-Asset Solutions, said 'I'm thrilled to be joining a world-class team at J.P. Morgan that is dedicated to helping clients – from large pension plans to individual retail investors – achieve their financial goals. In today's complex investing environment, it is essential to deliver investment solutions with a clear and incisive view of market, economic, and geopolitical forces that can have a significant impact on investment outcomes.' Biography Geng Ngarmboonanant is Managing Director, Global Business and Investment Strategy for Multi-Asset Solutions at J.P. Morgan Asset Management. Previously, Geng served as Deputy Chief of Staff for Secretary Janet L. Yellen at the U.S. Department of the Treasury, where he advised Secretary Yellen on economic policy and strategic matters. Geng served on the Covid-19 economic crisis response team, and is a recipient of the Treasury Medal. Geng also served on President-elect Joe Biden's presidential transition team and led policy committees for two presidential campaigns. Before his government service, he worked at Bain & Company, and at an investment management startup since acquired by Capital One. Geng graduated from Yale College with a B.A. in Ethics, Politics, and Economics, and he holds a J.D. from Yale Law School. He is based in New York, NY. 1As of March 31, 2025 About J.P. Morgan Asset Management J.P. Morgan Asset Management, with assets under management of $3.6 trillion (as of 3/31/2025), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information, visit: JPMorgan Chase & Co. (NYSE: JPM ) is a leading financial services firm based in the United States of America ('U.S.'), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $351 billion in stockholders' equity (as of 3/31/2025). The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at View original content to download multimedia: SOURCE J.P. Morgan Asset Management
Yahoo
25-03-2025
- Business
- Yahoo
Jayud Global Logistics Launches Exclusive Chartered Air Cargo Service Between Fuzhou and Jakarta
SHENZHEN, China, March 25, 2025 (GLOBE NEWSWIRE) -- Jayud Global Logistics Limited (NASDAQ: JYD) ("Jayud" or the "Company"), a leading end-to-end supply chain solution provider based in Shenzhen specializing in cross-border logistics, today announced the successful inaugural flight of its exclusive chartered air cargo service connecting Fuzhou, China and Jakarta, Indonesia on March 21, 2025. The new service represents the only chartered air cargo route directly connecting these two strategic markets. It is specifically designed to handle products containing lithium-ion batteries under IATA guidelines PI966, PI967, PI968, PI969, and PI970 categories. The service will operate three flights weekly (Tuesday, Thursday, and Sunday) using a Boeing 737-800 aircraft with a cargo capacity of up to 18 tons per flight. "This exclusive air route marks a significant expansion of our air freight capabilities in Southeast Asia and further demonstrates our commitment to developing specialized logistics solutions for high-demand product categories," said Xiaogang Geng, Chairman of the Board and CEO of Jayud Global Logistics. "Our ability to safely and efficiently transport lithium battery products addresses a critical market need while supporting the rapid growth of e-commerce in the region." The Fuzhou-Jakarta route is strategically positioned to capitalize on the booming e-commerce market in Southeast Asia, which mirrors the impressive growth seen in the MENA (Middle East and North Africa) region. As highlighted in the Company's previous market analysis, e-commerce markets across emerging regions are experiencing substantial growth, with MENA reporting a projected 11.5% CAGR (Compound Annual Growth Rate) through 2028. This new air service complements Jayud's existing logistics infrastructure and technological capabilities, which have been successfully deployed in other regions. The Company will manage all logistical aspects of the operation, including procurement, warehousing, inventory management, and streamlined customs processes to reduce delivery times for cross-border e-commerce between China and Indonesia. "E-commerce continues to be a significant driver of international logistics demand, and our new chartered service provides a dedicated solution for this growing market segment," added Mr. Geng. "By establishing this exclusive air corridor, we're enhancing our service offerings and strengthening the commercial ties between China and Southeast Asia while supporting the specialized shipping needs of the e-commerce sector." About Jayud Global Logistics Limited Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. Headquartered in Shenzhen, the Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solution services, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company's website: Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as 'may', 'will', 'expect', 'anticipate', 'aim', 'estimate', 'intend', 'plan', 'believe', 'is/are likely to', 'potential', 'continue' or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. For more information, please contact: Jayud Global Logistics LimitedInvestor Relations DepartmentEmail: ir@ Investor Relations Contact:Matthew Abenante, IRCPresidentStrategic Investor Relations, LLC Tel: 347-947-2093Email: matthew@ in to access your portfolio
