Latest news with #GongZheng
Yahoo
7 days ago
- Business
- Yahoo
Global mayors discuss green, youth development in Shanghai
SHANGHAI, May 30, 2025 /PRNewswire/ -- A news report from Mayors and representatives of 26 cities across 22 countries have gathered in Shanghai for the ongoing Global Mayors Dialogue and the 2025 Shanghai International Friendship Cities Cooperation Forum, which kicked off on May 28. Sub-forums are themed "Urban sustainable development empowered by green and low-carbon strategies" and "Youth vitality inspiring urban innovation for the future". The forum runs until May 31. Gong Zheng, mayor of Shanghai, said at the opening ceremony on May 29 that having established friendship-city relationships with 95 cities in 59 countries, Shanghai will continue to expand its network of friendship cities, explore new models of cooperation, and elevate exchanges and cooperation to a new level. "We will focus on expanding economic and trade exchanges, promoting green transformation and upgrading, strengthening scientific and technological collaborations, and enhancing mutual understanding between people," he said. Haris Doukas, mayor of Athens, Greece, stressed the role of city diplomacy in tackling the climate crisis. "City diplomacy has allowed cities to lead the way, to achieve important partnerships for prevention, to share knowledge, to set brave and specific goals through participation in international networks and forums, and to reduce the burdens of the climate crisis," Doukas said. Shanghai and Athens established a friendship-city relationship in January. "Climate change is the defining challenge facing our shared world today," said Dan Boyle, lord mayor of Cork, Ireland, adding that "the spirit of international cooperation, which informs gatherings like today, can give us some optimism that this challenge facing all of humanity will be met." On the same day, the Letter of Intent for Friendly Cooperation and Exchanges was signed between Shanghai and Vientiane, the capital of Laos, while the MoU on the Establishment of Friendly Exchanges was signed between Shanghai and Tbilisi, Georgia. View original content to download multimedia: SOURCE Sign in to access your portfolio
Reuters
16-05-2025
- Business
- Reuters
Nvidia seeks Shanghai R&D site after US chip curbs, say sources
HONG KONG, May 16 (Reuters) - Nvidia (NVDA.O), opens new tab is seeking a site in Shanghai for a research and development centre, three sources close to the matter said, reflecting the strategic significance of the Chinese market where U.S. curbs on advanced chip exports have hit sales. The U.S. chipmaker began the search in early 2025 and is primarily evaluating locations in Shanghai's Minhang and Xuhui districts, one of the sources said. The project gained momentum after a surprise visit to China by Nvidia CEO Jensen Huang last month, said two of the sources. Huang, who has consistently said China is critical to Nvidia's growth, made his visit immediately after the U.S. placed new restrictions on China-bound shipments of its H20 chips, the only AI chip the company can sell legally in China. Huang met senior Chinese officials, including Vice Premier He Lifeng and Shanghai's mayor Gong Zheng. Reuters reported earlier this month that Nvidia plans to release a downgraded version of the H20 chip for China in the next two months, as it seeks to prop up sales in the country, where it has been lost market share to domestic rivals such as Huawei. China generated $17 billion in revenue for Nvidia in the fiscal year ending January 26, accounting for 13% of the company's total sales. The local government of Shanghai, which hosts China's largest foreign business community, including firms such as Tesla (TSLA.O), opens new tab, has expressed willingness to offer incentives for the Nvidia project, including tax reductions, said two of the sources. The local authorities are also considering offering a substantial amount of land to Nvidia for its China R&D centre, one source added. Nvidia declined to comment, while the Shanghai city government did not immediately respond to a request for comment. The sources declined to be named, as the plan is not public. Following his visit to China, Huang told CNBC that the country's AI market could reach approximately $50 billion within the next two-to-three years. He said that being excluded from this rapidly expanding sector would represent a "tremendous loss" for Nvidia, especially as competition with Huawei intensifies. During an earnings call in February, before H20 chip sales to China were restricted, Nvidia executives said the company's sales to China were about half the level before U.S. export controls. Since 2022, the U.S. government has imposed restrictions on the export of Nvidia's most advanced chips to China, citing concerns over potential military applications. The Financial Times first reported on Friday about Nvidia's plan to build a R&D centre in China.
South China Morning Post
29-04-2025
- Business
- South China Morning Post
Nvidia denies China joint venture report after CEO's whirlwind visit to Beijing, Shanghai
Artificial intelligence (AI) chip supplier Nvidia has denied a report that it is planning to set up a Chinese joint venture to maintain its business presence on the mainland, as it copes with US export restrictions on its graphics processing units (GPUs). Advertisement Taiwanese tech media Digitimes reported on Monday that Nvidia's CEO Jensen Huang was considering establishing a joint venture in mainland China to maintain the operations of the company's CUDA computing platform, as well as other business interests in the country, which contributed US$17.1 billon in company revenues in the previous financial year. An Nvidia representative denied the report on Tuesday. 'There is no basis whatsoever for any of these claims,' the person told the Post, adding that it was 'irresponsible to publish baseless claims and speculation as fact'. The denial of joint venture plans by Nvidia comes as the US chip giant is trying to navigate its way through an intensifying US-China tech war. On the one hand, Nvidia is trying to maintain Chinese sales and fend off competition from the mainland, while on the other hand it has to comply with US regulations that restrict exports of advanced chips to China. Shanghai Mayor Gong Zheng (left) met with Nvidia CEO Jensen Huang on April 18, 2025. Photo: Handout Huang made a surprise visit to China earlier this month after its H20 AI chips, which were tailor-made for Chinese clients to comply with previous export rules, were banned from sale to China under tighter rules applied by Washington. Before the trip, the company disclosed that the H20 China ban would cost it US$5.5 billion
Globe and Mail
03-03-2025
- Business
- Globe and Mail
Hua Medicine Awarded Shanghai Innovative Enterprise Headquarters
SHANGHAI, Mar 3, 2025 - (ACN Newswire) - On February 27th, the awarding ceremony of the second batch of Shanghai Innovative Enterprise Headquarters was held in Shanghai. Gong Zheng, Deputy Secretary of Shanghai Municipal Party Committee and Mayor of Shanghai, awarded the certificates to 49 innovative enterprise headquarters, and Hua Medicine was among them. Dr. Li Chen, the founder and CEO of the Company, went on stage to receive the award and delivered a speech as a representative of the enterprises. Innovative enterprises are an important part of Shanghai's modern industrial system and the source of vitality for Shanghai's high-quality development. In recent years, innovative enterprises in Shanghai have been growing and developing rapidly, having an obvious driving effect on the industry. The enterprises awarded this time are from key industrial fields such as integrated circuits, biomedicine, artificial intelligence, digital economy, and emerging strategic comprehensive industries. All the selected enterprises exhibit the characteristics of strong innovation leadership, vigorous development vitality, and obvious agglomeration development. Hua Medicine, headquartered in Shanghai but with a global outlook, is leveraging China's evolving pharmaceutical regulatory landscape and the innovative drug full-chain industrial environment such as the pharmaceutical research and development, production, and business environment created by Shanghai to continuously accelerate the transformation and implementation of innovative achievements. Hua Medicine took ten years to develop a globally first-in-class and national Class I new drug, glucokinase activator (GKA) dorzagliatin (Trade name:) independently, which was first launched in China, with a globally new target and a new mechanism. In September 2022, dorzagliatin was approved for marketing by the National Medical Products Administration of China for the treatment of type 2 diabetes. It is the first GKA approved for marketing worldwide and has also become the tenth class of diabetes treatment drugs recognized by the World Health Organization (WHO). By the end of 2023, dorzagliatin was successfully included in China's National Reimbursement Drug List (NRDL), greatly improving the accessibility and affordability of this innovative drug for patients. As a global innovation leader in the GKA field, Hua Medicine has received national-level awards on multiple occasions during the research and development period and after the product launch, and has undertaken major national projects. These include being consecutively selected as a major new drug development special project under the "12th Five-Year Plan" and the "13th Five-Year Plan' by the Ministry of Science and Technology, and winning the First Prize of the Science and Technology Award of the Chinese Pharmaceutical Association, among others. Currently, Hua Medicine is actively carrying out the development of the second-generation GKA and fixed combination preparations, aiming to bring more innovative and good drugs to patients in China and even globally in the fields of diabetes and its complications, such as obesity and diabetic nephropathy. As a representative of the enterprises, Dr. Li Chen said in his speech at the awarding ceremony: "Coinciding with the new era and new journey of Shanghai accelerating the construction of a scientific and technological innovation center and fully promoting the upgrading and development of strategic emerging industries, Hua Medicine being recognized as the Shanghai Innovative Enterprise Headquarters is an affirmation of the enterprise's past and also an encouragement and inspiration for the enterprise's future development. Hua Medicine will continue to leverage its advantages of conceptual innovation, technological innovation, and model innovation, keep making progress, and contribute to the construction of Shanghai's scientific and technological innovation center and the innovative development of the biomedicine industry." Receiving the title of "Shanghai Innovative Enterprise Headquarters" this time is not only an honor for Hua Medicine but also a responsibility and mission. In the future, taking this as an opportunity, Hua Medicine will continuously increase its innovation investment and the ability of achievement transformation, continuously enhance its international competitiveness, provide more high-quality innovative drugs and treatment solutions for patients, help Shanghai's biomedicine industry reach new heights, and promote the construction of the "Healthy China" strategy. About Hua Medicine Hua Medicine (The 'Company') is an innovative drug development and commercialization company based in Shanghai, China, with companies in the United States and Hong Kong. Hua Medicine focuses on developing novel therapies for patients with unmet medical needs worldwide. Based on global resources, Hua Medicine teams up with global high-calibre people to develop breakthrough technologies and products, which contribute to innovation in diabetes care. Hua Medicine's cornerstone product HuaTangNing (dorzagliatin tablets), targets the glucose sensor glucokinase, restores glucose sensitivity in T2D patients, and stabilizes imbalances in blood glucose levels in patients. HuaTangNing was approved by the National Medical Products Administration (NMPA) of China on September 30th, 2022. It can be used alone or in combination with metformin for adult T2D patients. For patients with chronic kidney disease (CKD), no dose adjustment is required. It is an oral hypoglycemic drug that can be used for patients with Type 2 diabetes with renal function impairment. ]]>
Asia Times
19-02-2025
- Business
- Asia Times
China connects everything to DeepSeek in nationwide plan
China now connects everything – from chatbots and smart vehicles to government departments and schools – to DeepSeek, an artificial intelligence (AI) model that emerged and became famous last month. Baidu, a Chinese search engine, announced that its chatbot Ernie Bot 4.9 version now integrates with DeepSeek-R1 to enhance students' problem-solving capability. Students can take a picture of a question, and then the chatbot will answer it with detailed steps. The company also said it will allow individual users and SMEs to use Ernie's basic functions for free from April and will charge high-end customers only for some tailor-made services. Some Chinese media said Baidu could obtain more data by giving up its closed-source model and connecting with other AI models, but such a move would also require it to rely on external platforms and cause it to lose competitiveness over the long run. Tencent said on February 16 that users of its Weixin messaging app can now use DeepSeek for searches. A company spokesperson told the news media that Tencent is exploring integration of multiple products with DeepSeek. Earlier this month, the Shenzhen-based Huawei said its Huawei Cloud has connected with DeepSeek-R1. Chinese automakers BYD and Geely also said their electric vehicles integrate with DeepSeek-R1. 'The technical advantages of leading IT companies pave the way for free AI services,' said Gong Zheng, an engineer at the Institute of Technology and Standards, China Academy of Information and Communications Technology (CAICT), which is a research institute under China's Ministry of Industry and Information Technology (MIIT). 'Free basic AI services can become a channel for companies to source data. These companies can form a 'closed business loop' and offer value-added services and enterprise-level solutions,' he said, adding that China wants to formulate the industry standards for the next generation of human-computer interaction technology. A 'closed business loop' refers to a process in which a company actively collects customer feedback and analyzes it to improve its products and services. On Tuesday state media, including Xinhua, promoted the benefits of allowing primary and secondary school students to use DeepSeek, even though many countries discourage their students from using AI tools to do homework. The rise of DeepSeek and related applications came as Chinese President Xi Jinping met corporate leaders at a symposium in Beijing on Monday. These company heads included Huawei Technologies' Ren Zhengfei, Alibaba's Jack Ma, Tencent's Pony Ma, DeepSeek's Liang Wenfeng and Unitree's Wang Xingxing. 'In this new era, the development prospects of the private sector are broad and promising,' Xi said in a speech. 'It is time for private firms and entrepreneurs to show their talents.' 'It is hoped that private firms and entrepreneurs will have the ambition to serve the country, be dedicated to development, abide by the law and do business well, promote common prosperity, and make new and greater contributions to promoting Chinese-style modernization,' he said. Xi added that some of the difficulties and challenges currently faced by the private sector generally arise during China's industrial upgrade, but they are partial, temporary, and resolvable. The People's Daily said DeepSeek and Unitree executives' appearances at Xi's symposium demonstrated that the central government values technological innovation. Before this, Chinese Premier Li Qiang had met some entrepreneurs, including Unitree's Wang, at a symposium in Hangzhou on December 20, 2024. Unitree won applause with its dancing robots at China Central TV's Spring Festival Gala on January 28. Li had also met other industrial experts, including DeepSeek's Liang, at a symposium in Beijing on January 20, 2025. On that same day DeepSeek launched DeepSeek-R1, which had surpassed ChatGPT to become the No.1 on the free app download charts in the US within days. US stocks fell significantly on January 27 as investors were worried that Nvidia and OpenAI might be overvalued, in view of the fact DeepSeek had developed its AI model at very low costs. The DeepSeek team claimed they used only 2,000 Nvidia H800 chips to train its AI model. However, no one really knows how many chips DeepSeek has used, nor who ultimately controls this company and offers it unlimited financial resources. In July 2017, China's State Council unveiled its New Generation AI Development Plan and vowed to make the country become a major AI innovation hub and a world leader in AI technology by 2030. In February 2023, the Chinese Communist Party (CCP) Central Committee and State Council published the Overall Layout Plan for the Development of a Digital China, calling for the integration of the nation's digital and real economies. At that time, Vice Premier Liu He said China should boost its semiconductor sector with a 'whole nation' approach, allowing the government to mobilize the resources of the nation's research institutions and companies to achieve technological breakthroughs. According to the plan, China will form a nationwide system by 2025 to achieve its 'Digital China' goal. The Guangzhou, Nanjing, Suzhou, Zhengzhou, and Hohhot city governments said their computing networks are connected to DeepSeek-R1. In Shenzhen, the Futian district government said it created 70 AI 'staff members' with DeepSeek to handle documents and assist its civil servants. Hu Guoqing, head of the 6G and AI artificial intelligence research group and an associate researcher at Peking University's Shenzhen Research Institute, said more and more government departments will try to integrate with AI tools. Yong Jian is a contributor to the Asia Times. He is a Chinese journalist who specialises in Chinese technology, economy, and politics. Read: Where DeepSeek, Qwen's AI engineers really come from
