Anthropic and OpenAI are racing toward blockbuster IPOs with trillion-dollar valuations, but a rival they cannot sue, regulate, or outspend may already be eroding the foundation those numbers rest on.
FINANCE
China injects $54 billion into state financial institutions, extending capital lifeline to insurers for first time
China is injecting 360 billion yuan ($54 billion) into state financial institutions, extending capital support to five major insurers for the …
Best digital bank in the Greater Bay Area 2026: China Merchants Bank
China Merchants Bank and CMB Wing Lung Bank introduced an end-to-end digital account-opening service for the southbound scheme in February 2025, allowing eligible mainland investors to complete …
China Orders More American Soybeans, Dawdles on AI Chips
Washington cleared H200 chip sales to ten major Chinese firms, including Alibaba, Tencent and ByteDance, after the May summit. The deal routes 25% of the revenue to the U.S. government and requires …
China unveils plan to build financial powerhouse, eyes stronger capital market by 2030
(ECNS) — The State Council Information Office held a 15th-Five-Year-Plan-related press conference on Thursday, outlining measures to strengthen regulation, prevent risks and promote high-quality …
UBS closes China fund sales unit as domestic competition proves too much
By Samuel Shen and Selena Li SHANGHAI/HONG KONG, Sept 10 (Reuters) – UBS will shut its Chinese fund sales unit after struggling to attract investors in a market already overcrowded with deep-pocketed …
China central bank’s August gold purchase was its biggest month since 2023
The People’s Bank of China made its largest monthly purchase of gold since October 2023, adding 20.2 metric tons of gold to its reserves in August for its 22nd consecutive monthly increase.
China Merchants Bank Wins CNCF End User Case Study Contest for Unifying AI Training and Inference on Kubernetes
The Cloud Native Computing Foundation® (CNCF®), which builds sustainable ecosystems for cloud native software, today announced China Merchants Bank, one of China’s leading commercial banks, as the winner of the CNCF End User Case Study…
China’s zero-tariff treatment, enhanced RMB settlement to boost Africa-China trade: S. African banking executive
China’s zero-tariff treatment is helping African businesses lower export costs, while growing renminbi (RMB) settlement capacity is further facilitating trade between Africa and China, a South African banking executive said Wednesday.
China pumps $53.6bn into state banks and insurers
By IntelliNews – Jakarta Bureau China is pumping CNY360bn ($53.6bn) into eight state-owned financial institutions to strengthen the nation’s banking sector and stimulate slowing economic growth, state …
China’s government pumps $54B into banks, insurers amid slow growth
China on Monday poured $54 billion to eight state-owned banks and insurance companies as it sought to boost growth amid a slowing economy.
Ping An AI platform earns Hang Seng ESG upgrade: China data laws still apply
Ping An ESG rating climbs to A+ in Hang Seng’s 2026 sustainability assessment, adding China’s largest insurer to seven indexes and triggering mandatory buying by passive funds — but the governance …
China’s Finance Ministry to Inject USD45 Billion Into Eight Central State-Owned Financial Firms
(Yicai) Sept. 7 — Eight central state-owned financial enterprises will increase their capital by a total of CNY360 billion (USD53.6 billion), with the Ministry of Finance set to contribute CNY300 billion, to supplement their core…
