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ANR Industry News Highlights [March 2024]

The Asian General Chamber of New Retail (ANR) 亞洲新零售總會

ANR is on a mission to build a ecosystem connecting Funders, Founders, Brands, Experts, Services Providers in New Retail

发布日期: 2024年3月26日

In the digital age, information overload is a significant challenge. To help you stay informed, I've curated a list of the most trending and valuable news topics that Chinese netizens are interested in across various fields. By providing you with this information, you can stay up-to-date with the latest developments in the market.

1. Innovation

1a. Meet Kimi AI, The Chinese ChatGPT

Moonshot AI's Kimi AI, backed by Alibaba, is an advanced Chinese LLM chatbot designed to enhance interactions with technology. Kimi can process up to 2 million characters, providing services for diverse groups like researchers, students, and professionals. Founded in 2023, Moonshot AI has made significant strides in conversational AI and large language models, with Kimi AI standing as a notable innovation in natural language processing.

1b. Apple Is Reportedly Partnering With Chinese Giant Baidu For iOS 18’s AI Features

Baidu's shares rose following reports that Apple may license its AI services, including its ERNIE Bot, a generative AI similar to ChatGPT. While unconfirmed by Apple or Baidu, such a partnership would align with Apple's history of adapting its technology stack to comply with Chinese regulations, potentially integrating Baidu's AI in China as alternatives like Google's Gemini and ChatGPT are unavailable there.

1c. China’s Xiaomi Will Price Its Tesla EV Rival Under $69,400, CEO Says Ahead Of Thursday Launch

Xiaomi's CEO Lei Jun announced the SU7 EV's ambition to be the leading intelligent sedan under 500,000 yuan, with its launch and ordering starting Thursday. The vehicle is showcased in 29 cities, entering China's premium EV market, competing with Tesla and domestic rivals like BYD. Amidst a price war and market challenges, Lei stakes his reputation on Xiaomi's pivotal diversification into electric vehicles.

2. Economy

2a. At China Development Forum, Foreign Firms Keep Calling For Action As Beijing Makes More Promises

Beijing is courting foreign multinationals to establish R&D centers and collaborate with local firms, promising to lower barriers amid manufacturing overcapacity. At the China Development Forum, foreign leaders called for substantive business environment reforms. Despite geopolitical tensions and recent R&D exits by Hulu, IBM, and Ericsson, China pledges support for foreign innovation and investment. Multinationals remain keen on China's vast market, urging harmonized standards and balanced regulations, while expecting continued growth and innovation leadership.

2b. End Of Negative Interest Rates In Japan Raises Threat Of Yen Volatility

Japan's end of negative interest rates, after a decade of ultra-loose policy, signals potential volatility for the yen, affecting its appeal for low-cost borrowing and carry trades. The Bank of Japan's rate increase, contrasting with other central banks' cuts, may change the yen's financial market role, leading to its appreciation and a shift from its stable, favored funding status. This change could impact investors, companies, and governments that have relied on the yen's stability for funding and investments, although the short-term direction of the yen still hinges on the Fed's policies.

2c. EU Member States Commit To Cooperating On World-Class Quantum Tech

Twenty-one EU states have committed to advancing Europe as a "quantum valley" by signing a declaration for quantum technology collaboration, crucial for EU's competitiveness. This aligns with the European Commission's Digital Decade vision and is part of the quantum flagship initiative, which aims for quantum computing progress by 2025 with a €1 billion investment, fostering industry and academic partnerships in the global tech arena.

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3. Society

3a. Hot Search: Earth Just Experienced A Severe Geomagnetic Storm

A severe geomagnetic storm, caused by a coronal mass ejection and solar flare, disrupted Earth's magnetic field, potentially affecting infrastructure and expanding the visibility of the northern lights. NOAA issued warnings and extended the watch as the storm, which can impact power systems and GPS, began to weaken. Officials urged the public to stay informed but not overly concerned.

3b. Hot Discussion: China’s Largest Political Gathering, Two Sessions, Begins In Beijing

China's political elite, totalling over 5,000 from CPPCC and NPC, convened in Beijing for the annual Two Sessions. President Xi Jinping, Premier Li Qiang, Wang Huning, and others attended. Unprecedentedly, no post-session press conference will be held.

4. Culture

4a. Fast Growing App: Rewind - a music time travel app

4b. Fast Growing Game: Sausage Man - a casual shooting games

4c. Fast Grossing Movie: The Pig, The Snake and The Pigeon - a crime drama film

Contributed by: Mr Carri Yeung

#strategyconsulting | #digitaltransformation | #marketing

Website: www.carriinsights.com