China has completed arrangements to open a $1.4-trillion fund for local governments engulfed by debt.
The funds to help local governments clear “hidden” or off-book debt will be available until 2029, officials announced at an 8 November press briefing.
For the first time in six months, China’s factory activity increased in October, reflecting the results of Beijing’s new stimulus initiative that included cutting interest rates and funneling money into the stock market.
Chinese research institutions with ties to the country’s Academy of Military Sciences have built an AI for military applications by using Meta's publicly available LLaMA generative AI, according to a recently published research paper.
In 2023, local governments floundered in debt and Beijing swooped in with $309 billion in new bonds to pay back those debts. The central government also ordered state-owned banks to lend even more money to those failing municipalities.
China will account for 22 percent of global economic growth over the next five years and India 15 percent, according to the International Monetary Fund’s (IMF’s) new economic outlook report.
China’s economy expanded at an annual rate of 4.6 percent in the third quarter, according to government figures, ticking down from the previous quarter’s 4.7 percent and far short of Beijing’s 5-percent growth target for this year.
China Telecom, a state-owned business, says it has used chips designed in-house to create two large language model AIs trained to consider a trillion variables at a time.
China on Monday conducted its largest military exercise ever off the coast of Taiwan to warn the island against seeking independence under Taipei’s new president Lai Ching-te, who Beijing has called a “troublemaker.”
China’s roaring rally in equity markets seems to be running out of energy. After the People’s Bank of China created a fund to make cheap loans that people and businesses could use to buy stocks, markets soared.
American universities are the best in the world. Unfortunately, research at many of them is directly helping China advance its military technology and military related innovations.