https://www.scmp.com/rss/511368/feed Dylan Butts is an American-born journalist who joined the Post as a technology reporter in 2023. He holds a Master of Journalism degree from the University of Hong Kong and has past work with publications such as Forkast.News and NBC News. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Dutch chip-making equipment manufacturer ASML was forced to cancel some shipments to China after having licences partially revoked, in a blow to the mainland’s apparent efforts to stockpile related technology ahead of new restrictions. “A licence for the shipment of NXT:2050i and NXT:2100i [deep ultraviolet (DUV)] lithography systems in 2023 has recently been partially revoked by the Dutch government, impacting a small number of customers in China,” the company said in a statement on Monday. On... https://www.scmp.com/tech/article/3247042/chip-industry-giant-asml-blocked-us-netherlands-shipping-equipment-china-ahead-export-deadline?utm_source=rss_feed https://www.scmp.com/tech/article/3247042/chip-industry-giant-asml-blocked-us-netherlands-shipping-equipment-china-ahead-export-deadline?utm_source=rss_feed Tue, 02 Jan 2024 13:00:18 +0000 Dylan Butts,Matt Haldane Dylan Butts,Matt Haldane When a Washington Post reporter asked Binance co-founder and then-CEO Zhao Changpeng last year about Chen Guangying – a little-known executive listed as the cryptocurrency exchange’s legal representative in China – the billionaire entrepreneur pushed out a 2,000-word screed on the company blog decrying efforts to paint it as “Chinese”. According to CZ, as Zhao is commonly known, the reporter was playing into the hands of a competitor that was spreading rumours about Binance to “erode trust in... https://www.scmp.com/tech/big-tech/article/3246047/chinas-crypto-craving-back-door-binance-traders-look-more-important-exchanges-future-wake-us?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3246047/chinas-crypto-craving-back-door-binance-traders-look-more-important-exchanges-future-wake-us?utm_source=rss_feed Sat, 23 Dec 2023 04:00:12 +0000 The sudden death of Tang Xiao’ou, a key figure behind China’s facial recognition technology and a cofounder of SenseTime Group, is the latest challenge to face the US-sanctioned artificial intelligence (AI) giant, with its shares losing 11 per cent in Hong Kong on Monday. Shares of SenseTime, once held up as a model of China’s AI capabilities thanks to the strong research credentials of Tang, a professor with the Chinese University of Hong Kong, have dropped to their lowest-ever level since its... https://www.scmp.com/tech/article/3245476/chinese-ai-expert-tangs-sudden-death-throws-sensetime-disarray-shares-hit-record-low?utm_source=rss_feed https://www.scmp.com/tech/article/3245476/chinese-ai-expert-tangs-sudden-death-throws-sensetime-disarray-shares-hit-record-low?utm_source=rss_feed Mon, 18 Dec 2023 11:30:20 +0000 Temu, which is owned by PDD Holdings, has launched a lawsuit in the US against fast-fashion rival Shein accusing it of illegal and anticompetitive practices as part of a “desperate plan” to sabotage its business, in a revamped legal battle between the warring e-commerce giants. In a Wednesday filing, Boston-based WhaleCo – which operates as Temu in the US – said Shein’s unlawful actions included “mafia-style intimidation” and “false imprisonment” of vendors, as well as “abuse of the copyright... https://www.scmp.com/tech/article/3245099/temu-files-fresh-us-lawsuit-against-shein-accusing-it-anti-competitive-practices-fast-fashion?utm_source=rss_feed https://www.scmp.com/tech/article/3245099/temu-files-fresh-us-lawsuit-against-shein-accusing-it-anti-competitive-practices-fast-fashion?utm_source=rss_feed Thu, 14 Dec 2023 14:30:08 +0000 Hong Kong’s push to boost local advanced manufacturing is gaining traction, with semiconductor companies pledging billions of dollars of investments in research, development and production in the city, according to government officials, as the Asian financial centre endeavours to diversify its economy. Drawing advanced manufacturing to Hong Kong is a top priority for the government, according to Sun Dong, Secretary for Innovation, Technology and Industry, speaking at the Advanced Manufacturing... https://www.scmp.com/tech/policy/article/3243961/chinese-automotive-chip-manufacturers-plan-invest-billions-hong-kong-amid-citys-push-reindustrialise?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3243961/chinese-automotive-chip-manufacturers-plan-invest-billions-hong-kong-amid-citys-push-reindustrialise?utm_source=rss_feed Tue, 05 Dec 2023 14:30:13 +0000 SenseTime Group has fended off claims made in a short-seller report, accusing the Chinese artificial intelligence (AI) company of questionable business and accounting practices, in the latest stock hit for the once-promising market leader. The report released Tuesday by short-seller firm Grizzly Research cited court cases, official documents and insiders accusing the company of engaging in efforts to inflate its revenues through means such as “round-tripping,” in which it financed companies to,... https://www.scmp.com/tech/article/3243236/sensetime-goes-defensive-after-short-seller-report-latest-setback-ailing-chinese-ai-champion?utm_source=rss_feed https://www.scmp.com/tech/article/3243236/sensetime-goes-defensive-after-short-seller-report-latest-setback-ailing-chinese-ai-champion?utm_source=rss_feed Wed, 29 Nov 2023 10:00:18 +0000 British semiconductor firm Graphcore is slashing staff in China and will no longer sell products in the country, citing Washington’s latest export restrictions on sales of advanced artificial intelligence (AI) chips as the last straw in the market for the struggling company once regarded as a potential rival to industry leader Nvidia. The tightened regulations, announced in October, took effect this month and are aimed at restricting China’s access to high-end semiconductor technology with US... https://www.scmp.com/tech/article/3242683/british-ai-chip-darling-graphcore-pulls-out-china-nvidia-rival-becomes-latest-casualty-us-export?utm_source=rss_feed https://www.scmp.com/tech/article/3242683/british-ai-chip-darling-graphcore-pulls-out-china-nvidia-rival-becomes-latest-casualty-us-export?utm_source=rss_feed Fri, 24 Nov 2023 07:00:09 +0000 Baidu has a stockpile of advanced artificial intelligence (AI) chips to soften the short-term impact of US export curbs, the Chinese tech giant said as it forecast increased AI revenues in its third-quarter results. In an earnings call on Tuesday, Baidu co-founder, chairman and CEO Robin Li Yanhong said the company expects to have enough AI chips to continue developing its Ernie large language model (LLM) for the next two years as it races to keep up with OpenAI’s ChatGPT. “The restrictions on... https://www.scmp.com/tech/big-tech/article/3242461/baidu-forecasts-ai-revenue-growth-and-limited-short-term-impact-us-chip-curbs?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3242461/baidu-forecasts-ai-revenue-growth-and-limited-short-term-impact-us-chip-curbs?utm_source=rss_feed Wed, 22 Nov 2023 10:15:14 +0000 Dylan Butts,Matt Haldane Dylan Butts,Matt Haldane OKX, the world’s third-largest cryptocurrency exchange by 24-hour trading volume, has officially applied for a virtual asset trading platform (VATP) licence under its Hong Kong branch, becoming the first major industry player to apply under a new legal regime aimed at transforming the city into a regional crypto hub. The exchange’s local subsidiary OKX Hong Kong FinTech submitted the application on November 16, according to the Securities and Futures Commission’s (SFC) website, becoming the... https://www.scmp.com/tech/article/3242316/crypto-giant-okx-applies-hong-kong-licence-becoming-first-major-exchange-file-under-citys-virtual?utm_source=rss_feed https://www.scmp.com/tech/article/3242316/crypto-giant-okx-applies-hong-kong-licence-becoming-first-major-exchange-file-under-citys-virtual?utm_source=rss_feed Tue, 21 Nov 2023 09:00:15 +0000 Smartphone sales in China rose 11 per cent in the first four weeks of October compared with last year, in the latest sign that the market is recovering from an eight-month slump, as top domestic brands beat rival Apple in growth. According to a new report published by Counterpoint Research, Xiaomi, Honor and Huawei Technologies were the main forces behind that growth, with Huawei seeing sales rise 90 per cent year on year during the period. “The clear stand-out in October has been Huawei with... https://www.scmp.com/tech/article/3241657/apple-cedes-territory-huawei-xiaomi-china-smartphone-sales-approach-recovery-october-report?utm_source=rss_feed https://www.scmp.com/tech/article/3241657/apple-cedes-territory-huawei-xiaomi-china-smartphone-sales-approach-recovery-october-report?utm_source=rss_feed Wed, 15 Nov 2023 12:00:32 +0000 Apple supplier Luxshare Precision Industry Co has received approval to invest an additional US$330 million in a planned plant in Vietnam’s northern province of Bac Giang, as the US tech giant’s supply chain diversification away from China continues. The additional amount raises the total plant investment to US$504 million, with the facility used to produce cables for smart devices, communications equipment, touch pens, smart positioning tags and smartwatches, Bac Giang authorities said in a... https://www.scmp.com/tech/article/3241111/apple-supplier-luxshare-invest-additional-us330-million-vietnam-plant-supply-chain-diversification?utm_source=rss_feed https://www.scmp.com/tech/article/3241111/apple-supplier-luxshare-invest-additional-us330-million-vietnam-plant-supply-chain-diversification?utm_source=rss_feed Fri, 10 Nov 2023 14:30:16 +0000 Cloud Software Group, the parent of cloud computing company Citrix, has announced it would stop all new commercial transactions in China, becoming one of the latest American technology companies to pull back from the market. The decision would extend to customers, either directly or through partners, in China, including Hong Kong and Macau, effective December 3, a spokesman said in a statement to the Post on Wednesday. The business decision was made due to the “increasing cost” of operating in... https://www.scmp.com/tech/article/3240901/citrix-owner-cloud-software-becomes-latest-us-software-company-quit-china-economy-weakens?utm_source=rss_feed https://www.scmp.com/tech/article/3240901/citrix-owner-cloud-software-becomes-latest-us-software-company-quit-china-economy-weakens?utm_source=rss_feed Thu, 09 Nov 2023 09:00:12 +0000 Dylan Butts Dylan Butts The Hong Kong arm of Swiss cryptocurrency-focused SEBA Bank has received a licence from the Securities and Futures Commission (SFC) to offer crypto-related services in the city as the government continues efforts to become a regional hub for digital assets. SEBA said the licence allows it to deal in and distribute both traditional and virtual assets-related securities, such as over-the-counter derivatives and structured products with underlying virtual assets, as well as advise on and conduct... https://www.scmp.com/tech/article/3240827/swiss-seba-bank-gets-approval-provide-crypto-related-services-hong-kong?utm_source=rss_feed https://www.scmp.com/tech/article/3240827/swiss-seba-bank-gets-approval-provide-crypto-related-services-hong-kong?utm_source=rss_feed Thu, 09 Nov 2023 01:00:17 +0000 Chinese logistics company Best, which counts e-commerce titan Alibaba Group Holding among its investors, said it has received a preliminary buyout offer from a consortium including local rival Cainiao, the logistics arm of Alibaba that is preparing a planned US$1 billion IPO in Hong Kong. Best said in a Monday statement that it had received a “preliminary non-binding proposal letter” from Best founder and CEO Shao-Ning Johnny Chou on behalf of a consortium of key figures and companies, including... https://www.scmp.com/tech/article/3240553/alibabas-cainiao-makes-buyout-offer-local-rival-best-ahead-planned-blockbuster-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/tech/article/3240553/alibabas-cainiao-makes-buyout-offer-local-rival-best-ahead-planned-blockbuster-hong-kong-ipo?utm_source=rss_feed Mon, 06 Nov 2023 14:04:25 +0000 Apple CEO Tim Cook has expressed optimism about China despite slowing overall revenue, stating that demand for its iconic iPhone remains strong in the country following record smartphone revenue for the September quarter, as the US tech giant faces increased competition from local brands such as Huawei Technologies and Xiaomi. Cupertino, California-based Apple released its quarterly earnings report on Thursday, which showed a fourth consecutive quarterly revenue decline between July and... https://www.scmp.com/tech/article/3240278/apples-ceo-cook-sees-china-bright-spot-after-record-iphone-sales-country-despite-overall-revenue?utm_source=rss_feed https://www.scmp.com/tech/article/3240278/apples-ceo-cook-sees-china-bright-spot-after-record-iphone-sales-country-despite-overall-revenue?utm_source=rss_feed Fri, 03 Nov 2023 13:30:15 +0000 Rising sales in China drove US chip giant Qualcomm to better-than-expected earnings in the past quarter, prompting the company to make a target-beating revenue forecast for the current quarter, in the latest sign that the global and Chinese smartphone markets are on the verge of recovery. The San Diego, California-based firm on Wednesday reported sales of US$8.63 billion for the financial fourth quarter, down 24 per cent from last year and slightly above consensus estimates compiled by... https://www.scmp.com/tech/article/3240111/qualcomm-highlights-china-sales-jump-it-beats-estimates-latest-signal-smartphone-market-rebound?utm_source=rss_feed https://www.scmp.com/tech/article/3240111/qualcomm-highlights-china-sales-jump-it-beats-estimates-latest-signal-smartphone-market-rebound?utm_source=rss_feed Thu, 02 Nov 2023 10:46:36 +0000 Yangtze Memory Technologies Co (YMTC), China’s leading memory chip producer, has manufactured the “world’s most advanced” 3D NAND memory chip known to be in a consumer device in a “surprise technology leap”, according to a report by TechInights. YMTC’s memory chip, found in a solid-state drive launched quietly in July, shows that the manufacturer has continued to develop advanced technology despite being hampered by sanctions after it was placed on the US Commerce Department’s Entity List,... https://www.scmp.com/business/article/3239310/chinas-ymtc-makes-worlds-most-advanced-memory-chip-surprise-technology-leap-techinsights-report?utm_source=rss_feed https://www.scmp.com/business/article/3239310/chinas-ymtc-makes-worlds-most-advanced-memory-chip-surprise-technology-leap-techinsights-report?utm_source=rss_feed Thu, 26 Oct 2023 12:45:07 +0000 Honor, the mobile brand spun off from Huawei Technologies in 2020, emerged as China’s biggest smartphone vendor in the three months through September, when the industry’s largest market saw a second consecutive quarter of modest declines in spite of the launch of major new 5G handsets. Third-quarter smartphone shipments on the mainland fell 5 per cent year on year to 66.7 million units, according to a report on Thursday by tech market research firm Canalys. That compares to a 1 per cent decline... https://www.scmp.com/tech/big-tech/article/3239309/china-smartphone-shipments-continue-decline-third-quarter-former-huawei-mobile-brand-honor-reclaims?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3239309/china-smartphone-shipments-continue-decline-third-quarter-former-huawei-mobile-brand-honor-reclaims?utm_source=rss_feed Thu, 26 Oct 2023 11:30:15 +0000 A former employee of ASML Holding accused of stealing trade secrets from the manufacturer of the world’s most advanced semiconductor-making equipment, later worked for Huawei Technologies, according to a Dutch media report. ASML disclosed in its 2022 annual report published in February that one of its former China-based employees had engaged in “unauthorised misappropriation of data relating to proprietary technology” that may have violated some export controls. ASML CEO Peter Wennink... https://www.scmp.com/tech/tech-war/article/3239008/employee-chip-equipment-giant-asml-accused-stealing-company-secrets-went-huawei-report?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3239008/employee-chip-equipment-giant-asml-accused-stealing-company-secrets-went-huawei-report?utm_source=rss_feed Tue, 24 Oct 2023 11:15:08 +0000 Detractors of artificial intelligence (AI) often warn of a terminator-like event or mass job losses if the technology is not contained. In light of these and other AI fears, Hong Kong-based start-up Rice Robotics has designed its autonomous robot with a vital feature in mind: “friendliness”. The company has already deployed hundreds of its puppy-eyed AI robots throughout Japan and Hong Kong, and on Tuesday, it announced a fleet of its latest models - priced from US$10,000 each - were operating... https://www.scmp.com/tech/tech-trends/article/3238878/hong-kong-japan-start-rice-robotics-brings-friendly-ai-bots-service-sector?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3238878/hong-kong-japan-start-rice-robotics-brings-friendly-ai-bots-service-sector?utm_source=rss_feed Tue, 24 Oct 2023 00:00:19 +0000 Chinese Vice-Premier Ding Xuexiang and Apple CEO Tim Cook have met in Beijing, with both committing to Apple’s participation in developing the country’s digital economy and hi-tech supply chain, as the US technology giant attempts to shift its China narrative amid controversies over national security and censorship. After a quiet start, Cook’s surprise China trip has ramped up over the past few days to include meetings with Ding and other high ranking officials such as Ministry of Industry and... https://www.scmp.com/tech/big-tech/article/3238754/apple-ceo-tim-cook-meets-chinese-vice-premier-renews-commitment-china?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3238754/apple-ceo-tim-cook-meets-chinese-vice-premier-renews-commitment-china?utm_source=rss_feed Sat, 21 Oct 2023 10:30:08 +0000 Apple chief executive Tim Cook’s latest trip to China has included a low-key visit to manufacturing facilities run by Luxshare Precision Industry Co, as the US technology giant closely monitors the progress of its supply chain for the Vision Pro mixed-reality headset. Cook was spotted on Wednesday morning in a tour of a factory owned by Luxshare – a major Apple AirPods supplier that has also won iPhone 15 orders and was named as an assembler of the Vision Pro – in the northern part of eastern... https://www.scmp.com/tech/big-tech/article/3238406/apple-ceo-tim-cook-visits-factory-major-chinese-supplier-luxshare-amid-preparations-local-assembly?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3238406/apple-ceo-tim-cook-visits-factory-major-chinese-supplier-luxshare-amid-preparations-local-assembly?utm_source=rss_feed Wed, 18 Oct 2023 12:01:28 +0000 Dylan Butts,Matt Haldane Dylan Butts,Matt Haldane Hong Kong-based BC Technology Group refuted a report that it was exploring a sale of its locally licensed digital asset business OSL for as much as HK$1 billion (US$137.3 million) after its stock shed a fifth of its value on Tuesday. Bloomberg News reported on Monday that the investment holding company, which listed on the Hong Kong stock exchange in 2012, was gauging interest from buyers for the sale of OSL, one of only two licensed cryptocurrency exchanges in the city along with HashKey. BC... https://www.scmp.com/tech/policy/article/3238276/bc-technology-denies-it-selling-osl-crypto-exchange-stock-plummets-amid-challenges-hong-kong?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3238276/bc-technology-denies-it-selling-osl-crypto-exchange-stock-plummets-amid-challenges-hong-kong?utm_source=rss_feed Tue, 17 Oct 2023 15:00:14 +0000 Apple chief executive Tim Cook last week made a low-key visit to mainland China – his second trip to the country this year, following a week-long whistle-stop tour in March – as the US technology giant pursues expansion initiatives amid regulatory scrutiny and slow economic growth in one of its best-performing markets. Speaking at an Apple Store in Chengdu, capital of southwestern Sichuan province, Cook told reporters that he was excited about the work Chinese-based developers have done on apps... https://www.scmp.com/tech/big-tech/article/3238257/apple-ceo-tim-cook-makes-second-china-visit-2023-amid-tough-iphone-15-market-and-app-store?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3238257/apple-ceo-tim-cook-makes-second-china-visit-2023-amid-tough-iphone-15-market-and-app-store?utm_source=rss_feed Tue, 17 Oct 2023 12:00:10 +0000 Apple’s move to require developers to apply for Chinese government licensing before their apps can be made available in its app store in the country will close one of Beijing’s censorship loopholes, but also make life harder for developers, according to analysts and users. For many years, users like Alex, a 28 year old in southern China’s Guangzhou city, have bought iPhones to regularly browse Instagram and YouTube, apps that are blocked by China’s “Great Firewall”, but downloadable from the... https://www.scmp.com/tech/policy/article/3237962/apples-compliance-china-app-rules-plugs-censorship-loophole-creates-new-obstacles-developers?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3237962/apples-compliance-china-app-rules-plugs-censorship-loophole-creates-new-obstacles-developers?utm_source=rss_feed Sun, 15 Oct 2023 00:00:12 +0000 Matt Haldane,Dylan Butts,Xinmei Shen Matt Haldane,Dylan Butts,Xinmei Shen On Halloween last year, the giant virtual head of Sam Bankman-Fried displayed on a monitor sat on stage for Hong Kong’s FinTech Week, where he was asked about the city’s plans to become a “global crypto hub”. “I think [Hong Kong] could regain that status,” he told the crowd gathered in the hall to see the then-billionaire dial in remotely from the Bahamas, where he had moved his crypto exchange and related trading house Alameda Research from the city he was addressing. “When you look at the... https://www.scmp.com/tech/policy/article/3237817/hong-kongs-crypto-hub-dream-mired-high-costs-other-barriers-one-year-jpex-one-stumbling-block?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3237817/hong-kongs-crypto-hub-dream-mired-high-costs-other-barriers-one-year-jpex-one-stumbling-block?utm_source=rss_feed Sat, 14 Oct 2023 03:00:17 +0000 A few apps that link to pornographic sites have been spotted on Apple’s mainland Chinese App Store by local media, reflecting a glaring oversight in a market where regulators strictly review and monitor online content. One of these apps Xuexi Xinde Zimu, which translates to Learning Sindhi Alphabets in English, was the country’s most downloaded free iOS app during the recent National Day holiday, according to a report by local digital news outlet The Paper, which is run by state-owned Shanghai... https://www.scmp.com/tech/big-tech/article/3237352/chinese-media-spots-pornography-linked-apps-apples-mainland-app-store-amid-regulators-tightened?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3237352/chinese-media-spots-pornography-linked-apps-apples-mainland-app-store-amid-regulators-tightened?utm_source=rss_feed Mon, 09 Oct 2023 13:50:44 +0000 Hong Kong consumers and businesses are the most popular targets for fraudsters seizing upon increased rates of digital payments, according to data from American consumer credit reporting agency TransUnion. For Hong Kong consumers monitored by the company, the ratio of digital transactions flagged for suspected fraud was about 18 per cent for the first half of 2023, higher than any other region, while the overall volume of suspected fraudulent transactions increased 57 per cent over the same... https://www.scmp.com/tech/article/3236937/hong-kong-most-popular-target-digital-fraudsters-amid-pickup-online-payments-transunion-report?utm_source=rss_feed https://www.scmp.com/tech/article/3236937/hong-kong-most-popular-target-digital-fraudsters-amid-pickup-online-payments-transunion-report?utm_source=rss_feed Thu, 05 Oct 2023 13:30:10 +0000 Asia-Pacific consumers and employees have shown strong support for generative AI adoption, but efforts by brands to formally adopt the technology have lagged behind, according to a new marketing survey commissioned by Adobe. According to the findings, APAC consumers are the most excited in the world when it comes to how generative AI can improve products and services, at nearly three times the rate of those in other regions, such as the US and Europe. But the report finds that formal business... https://www.scmp.com/business/article/3236803/apac-consumers-are-most-excited-about-generative-ai-brand-adoption-lags-behind-adobe-survey?utm_source=rss_feed https://www.scmp.com/business/article/3236803/apac-consumers-are-most-excited-about-generative-ai-brand-adoption-lags-behind-adobe-survey?utm_source=rss_feed Wed, 04 Oct 2023 13:30:11 +0000 Apple has updated guidelines on its Chinese app developer website to reflect the latest government policy that requires the licensing of all apps for local users, signalling the US tech giant will once again move to comply with changing regulations amid ongoing tensions between Washington and Beijing. Apple did not immediately respond to a request for comment on the matter. China is set to enforce a policy to address a major loophole in its ‘Great Firewall’ that allows citizens using Apple’s App... https://www.scmp.com/tech/article/3236679/apple-changes-china-app-store-rules-and-expected-restrict-access-foreign-apps-regulatory-scrutiny?utm_source=rss_feed https://www.scmp.com/tech/article/3236679/apple-changes-china-app-store-rules-and-expected-restrict-access-foreign-apps-regulatory-scrutiny?utm_source=rss_feed Tue, 03 Oct 2023 13:00:16 +0000 Dylan Butts Dylan Butts A Hong Kong subsidiary of Futu Holdings, an online Chinese brokerage backed by Tencent Holdings, has warned that malicious sites are imitating its brand after three such alleged domains, claiming to be crypto exchanges, were flagged by the city’s chief financial regulator in the wake of the JPEX fraud investigation. “[Futu Securities] has recently noticed a suspicious platform called ‘FUBT Exchange’ that impersonates the company by using Futu Securities’ logo, brand name, and imitating our... https://www.scmp.com/tech/article/3236548/futu-holdings-warns-impostors-following-alerts-suspicious-crypto-exchanges-hong-kong-regulators?utm_source=rss_feed https://www.scmp.com/tech/article/3236548/futu-holdings-warns-impostors-following-alerts-suspicious-crypto-exchanges-hong-kong-regulators?utm_source=rss_feed Mon, 02 Oct 2023 14:00:09 +0000 SenseTime, one of China’s top artificial intelligence companies listed in Hong Kong, said the mainland police are investigating a person who previously worked for its intellectual property (IP) unit. “A former employee of SenseTime’s Intellectual Property Division is currently under investigation by the Public Security Bureau due to [a] suspected commercial-related case,” the company said in a statement sent to the Post on Sunday. The Hong Kong-based firm added that it maintains a commitment to... https://www.scmp.com/tech/article/3236455/sensetime-says-former-ip-rights-employee-under-police-investigation-china?utm_source=rss_feed https://www.scmp.com/tech/article/3236455/sensetime-says-former-ip-rights-employee-under-police-investigation-china?utm_source=rss_feed Sun, 01 Oct 2023 23:00:14 +0000 Dylan Butts,Xinmei Shen Dylan Butts,Xinmei Shen JPEX is dangling a dividend plan to attract new investors to put money into its cryptocurrency platform, defying concerted efforts by Hong Kong’s police and regulators to stop what could turn out to be the city’s biggest-ever financial fraud. The exchange, which suspended trading on Monday and was raided by police on the same day, has outlined a “DAO Stakeholders Dividend Plan”, which promises new users the chance to invest in a dividend paying asset, with a potential buyout price of twice its... https://www.scmp.com/tech/policy/article/3235372/defiant-jpex-takes-swipe-hong-kong-financial-regulator-crypto-exchange-touts-new-plan-woo-users?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3235372/defiant-jpex-takes-swipe-hong-kong-financial-regulator-crypto-exchange-touts-new-plan-woo-users?utm_source=rss_feed Thu, 21 Sep 2023 14:00:25 +0000 Dylan Butts Dylan Butts The sudden implosion of crypto exchange JPEX has grabbed headlines in Hong Kong, with authorities under pressure to unravel a mess that could turn out to be the city’s largest ever financial fraud. But after several days of intense media scrutiny, the company itself remains something of a mystery. A search of company registries by the Post related to JPEX in Hong Kong turned up a firm by the name of Web3.0 Technical Support, formerly known as JPEX Technical Support. A visit on Wednesday to the... https://www.scmp.com/tech/article/3235228/free-ice-cream-one-hong-kongs-biggest-ever-financial-frauds-what-and-who-behind-mysterious-jpex?utm_source=rss_feed https://www.scmp.com/tech/article/3235228/free-ice-cream-one-hong-kongs-biggest-ever-financial-frauds-what-and-who-behind-mysterious-jpex?utm_source=rss_feed Wed, 20 Sep 2023 13:30:13 +0000 Clifford Lo,Xinmei Shen,Dylan Butts Clifford Lo,Xinmei Shen,Dylan Butts Hong Kong police arrested six people in connection to the halted cryptocurrency trading platform JPEX, exposing the vulnerabilities of the city’s open economy and free-for-all internet in a scandal that could rack up as much as HK$1 billion in losses. Police arrested four men and two women – including the influencers Joseph Lam Chok and Chan Wing-yee – today after receiving 1,408 complaints alleging fraud at JPEX, the force said. The amount involved was estimated to be “about HK$1 billion... https://www.scmp.com/news/hong-kong/law-and-crime/article/3234894/hong-kong-influencer-joseph-lam-arrested-amid-jpex-cryptocurrency-investigation-involving-hk34?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3234894/hong-kong-influencer-joseph-lam-arrested-amid-jpex-cryptocurrency-investigation-involving-hk34?utm_source=rss_feed Mon, 18 Sep 2023 03:35:26 +0000 British chip designer Arm Holdings has launched a successful US$5 billion initial public offering (IPO) in New York, as investors rushed to buy into the company despite its heavy exposure to heightened China-US tech tensions. The IPO was the largest US public offering in almost two years, with shares in the SoftBank Group-owned company soaring almost 25 per cent above its debut price on the Nasdaq in trading on Thursday, valuing the company at around US$65 billion. Shares continued to jump... https://www.scmp.com/tech/tech-war/article/3234724/softbank-backed-chip-designer-arm-soars-after-successful-ipo-despite-warnings-china-risks?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3234724/softbank-backed-chip-designer-arm-soars-after-successful-ipo-despite-warnings-china-risks?utm_source=rss_feed Fri, 15 Sep 2023 13:30:13 +0000 Dylan Butts Dylan Butts The Hong Kong Securities and Futures Commission (SFC) issued a warning on Wednesday against the use of the cryptocurrency exchange JPEX, accusing it of “suspicious features” and promoting misleading information about its licensing. Online influencers and over-the-counter virtual asset money changers (OTC shops) were making false or misleading statements about JPEX having applied for a virtual asset trading platform (VATP) licence in Hong Kong, the city’s chief financial regulator said in a... https://www.scmp.com/tech/article/3234494/crypto-exchange-jpex-misleading-investors-hong-kong-securities-regulator-says-warning-online?utm_source=rss_feed https://www.scmp.com/tech/article/3234494/crypto-exchange-jpex-misleading-investors-hong-kong-securities-regulator-says-warning-online?utm_source=rss_feed Thu, 14 Sep 2023 06:00:15 +0000 The world’s largest iPhone factory is continuing to expand its workforce ahead of the release of the iPhone 15, with Apple hoping to avoid last year’s supply chain woes at the plant in China as it aims for a successful launch amid geopolitical tensions and fresh competition from Huawei Technologies. Foxconn Technology Group’s plant in Zhengzhou, capital of central Henan province, is offering peak season signing bonuses of 6,480 yuan (US$880) per person at the company’s Product Enclosure Business... https://www.scmp.com/tech/article/3234153/worlds-largest-iphone-factory-ramps-hiring-efforts-china-ahead-apples-launch-new-handset?utm_source=rss_feed https://www.scmp.com/tech/article/3234153/worlds-largest-iphone-factory-ramps-hiring-efforts-china-ahead-apples-launch-new-handset?utm_source=rss_feed Mon, 11 Sep 2023 23:30:15 +0000 Polestar, the Swedish electric vehicle (EV) maker owned by Chinese auto giant Geely Holdings, aims to launch a smartphone alongside its upcoming SUV model in China this year, as EV competition in the country revs up. The plan stems from a partnership between Polestar and Chinese smartphone maker Xingji Meizu, which is also owned by Geely, and will see the products offered in China towards the end of 2023, as first reported by CNBC and later confirmed by the South China Morning Post on... https://www.scmp.com/tech/article/3233927/tesla-competitor-polestar-launch-its-own-smartphone-part-chinas-latest-ev-trend?utm_source=rss_feed https://www.scmp.com/tech/article/3233927/tesla-competitor-polestar-launch-its-own-smartphone-part-chinas-latest-ev-trend?utm_source=rss_feed Fri, 08 Sep 2023 14:30:14 +0000 Dylan Butts Dylan Butts The accounts of 80 popular cryptocurrency influencers, each with more than 8 million followers, have been removed from one of China’s most popular social media apps, as Beijing maintains its tight grip over crypto activities. The Weibo accounts, which promoted cryptocurrencies, had breached eight regulations in China covering areas such as marketing, internet safety, telecommunications, trade and finance, Weibo Finance said in a statement on Tuesday. The Beijing-based firm said it would continue... https://www.scmp.com/tech/policy/article/3233703/china-crypto-crackdown-weibo-banishes-80-prominent-cryptocurrency-influencers?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3233703/china-crypto-crackdown-weibo-banishes-80-prominent-cryptocurrency-influencers?utm_source=rss_feed Thu, 07 Sep 2023 07:00:16 +0000 Huawei Technologies is making a comeback in the Chinese smartphone market with its latest Mate 60 Pro handset, but the US-sanctioned company’s chances of taking on Apple and Samsung Electronics again remain slim, analysts say. In the past week, Chinese consumers have flocked to Huawei’s usually quiet stores to snap up the new model, priced at 6,999 yuan (US$958) and with a home-made processor just a few generations behind the cutting edge, raising hopes that the Chinese giant may be set for a... https://www.scmp.com/tech/big-tech/article/3233636/huaweis-mate-60-pro-will-help-it-take-lost-ground-china-can-it-help-smartphone-giant-regain-global?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3233636/huaweis-mate-60-pro-will-help-it-take-lost-ground-china-can-it-help-smartphone-giant-regain-global?utm_source=rss_feed Wed, 06 Sep 2023 15:00:08 +0000 Huawei Technologies’ latest 5G smartphone has thrown an intense spotlight on Semiconductor Manufacturing International Corp (SMIC) after a third-party teardown of the handset indicated that mainland China’s top contract chip maker was behind its advanced processor, which could prompt US government action for violating existing trade sanctions. SMIC’s share price has gained nearly 20 per cent in Hong Kong and 15 per cent in Shanghai since Huawei launched presales of its new Mate 60 Pro last week,... https://www.scmp.com/tech/big-tech/article/3233520/tech-war-top-chinese-chip-maker-smic-under-spotlight-breakthrough-5g-processor-used-huaweis-latest?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3233520/tech-war-top-chinese-chip-maker-smic-under-spotlight-breakthrough-5g-processor-used-huaweis-latest?utm_source=rss_feed Wed, 06 Sep 2023 02:00:16 +0000 In select areas of Shenzhen, the southern tech hub linking Hong Kong to China’s mainland, Beijing’s futuristic vision of an “intelligent connected” road system is taking shape, with “self-driving” taxis now commonplace. But, experts question whether a driverless roadway is an imminent reality. Some of the taxis are operated by Baidu’s Apollo Go robotaxi service and can be hailed easily by prospective passengers through a mobile app. The rides have been free or heavily discounted since the launch... https://www.scmp.com/business/article/3233149/chinas-self-driving-vehicle-ambitions-are-motoring-towards-significant-legal-and-financial?utm_source=rss_feed https://www.scmp.com/business/article/3233149/chinas-self-driving-vehicle-ambitions-are-motoring-towards-significant-legal-and-financial?utm_source=rss_feed Sun, 03 Sep 2023 04:00:27 +0000 Dylan Butts Dylan Butts The Hong Kong arm of Swiss crypto-focused SEBA Bank is aiming to become one of the first licensed companies in the city to “conduct investment services with crypto capabilities”, following an approval-in-principle from local regulators. Final approval for the licence will allow the subsidiary to deal in securities, including virtual assets-related products, advise on securities and virtual assets, and conduct asset management in both traditional securities and virtual assets. According to Hong... https://www.scmp.com/tech/article/3232847/swiss-seba-bank-gets-approval-principle-act-crypto-friendly-bank-hong-kong?utm_source=rss_feed https://www.scmp.com/tech/article/3232847/swiss-seba-bank-gets-approval-principle-act-crypto-friendly-bank-hong-kong?utm_source=rss_feed Wed, 30 Aug 2023 12:00:13 +0000 Microsoft will partner with eight universities in Hong Kong this academic year to promote its latest artificial intelligence (AI) services as part of efforts to transform education with cutting-edge technology. The US tech giant on Monday announced it would collaborate with institutions on the design of applications and education solutions and run a series of workshops to encourage the use of AI on campuses. “Our collaboration with the universities in Hong Kong aims to propel generative AI... https://www.scmp.com/tech/tech-trends/article/3232691/microsoft-bring-openai-eight-hong-kong-universities-deploy-generative-ai-tech-education?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3232691/microsoft-bring-openai-eight-hong-kong-universities-deploy-generative-ai-tech-education?utm_source=rss_feed Tue, 29 Aug 2023 11:00:13 +0000 Nvidia said that the imposition of further US restrictions on the sale of advanced chips to China would result in the permanent loss of a business opportunity over the long term, although the industry giant expects little near-term impact on its financial performance. Nvidia is already prohibited from exporting its high-end artificial intelligence-focused chips to China, the largest semiconductor market in the world. However, it has been selling less powerful and restriction-skirting chips, such... https://www.scmp.com/tech/article/3232186/nvidia-sees-permanent-loss-business-opportunity-if-us-tightens-chip-export-controls-china?utm_source=rss_feed https://www.scmp.com/tech/article/3232186/nvidia-sees-permanent-loss-business-opportunity-if-us-tightens-chip-export-controls-china?utm_source=rss_feed Thu, 24 Aug 2023 13:30:18 +0000 An overwhelming majority of young consumers in Southeast Asia are more attracted to mid-range or budget phones than higher-end models from established brands like Samsung Electronics and Apple, according to a new survey. The survey, conducted by British market research firm YouGov and sponsored by Xiaomi-backed smartphone brand Poco, covered 2,500 Gen Z and millennial consumers – defined as those aged between 18 and 40 – in Indonesia, Malaysia, the Philippines, Thailand and Vietnam. More than... https://www.scmp.com/tech/big-tech/article/3231837/young-consumers-southeast-asia-prefer-budget-phones-over-apples-iphones-and-samsungs-high-end?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3231837/young-consumers-southeast-asia-prefer-budget-phones-over-apples-iphones-and-samsungs-high-end?utm_source=rss_feed Mon, 21 Aug 2023 14:00:13 +0000 Lenovo Group, the largest PC maker in the world, has announced the appointment of American businessman and “China friend” John Thornton as an independent non-executive director and a member of the company’s Nomination and Governance Committee. Formerly the co-president and director of Goldman Sachs until 2003, Thornton has acted as a prominent advocate of economic cooperation between the US and China. He is currently executive chairman of the mining company Barrick Gold Corporation and... https://www.scmp.com/tech/article/3231573/lenovo-appoints-wall-street-veteran-and-china-friend-john-thornton-non-executive-director?utm_source=rss_feed https://www.scmp.com/tech/article/3231573/lenovo-appoints-wall-street-veteran-and-china-friend-john-thornton-non-executive-director?utm_source=rss_feed Fri, 18 Aug 2023 14:00:15 +0000 Intel has cancelled its plans to buy Israeli foundry Tower Semiconductor after the deal failed to get approval from Chinese regulators ahead of a final deadline amid souring Sino-US relations. The American tech giant on Wednesday terminated its deal to acquire Tower for US$5.4 billion “due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement”, the company said. Beijing requires mergers involving companies with a major business presence in... https://www.scmp.com/tech/tech-war/article/3231304/intel-ends-deal-buy-tower-semiconductor-after-failure-gain-chinese-regulatory-approval?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3231304/intel-ends-deal-buy-tower-semiconductor-after-failure-gain-chinese-regulatory-approval?utm_source=rss_feed Wed, 16 Aug 2023 10:44:26 +0000 Matt Haldane,Dylan Butts Matt Haldane,Dylan Butts A vulnerability in certain cryptocurrency wallets on top exchanges such as Binance and Coinbase had left user funds facing the additional risk of theft, a security firm revealed this week, underscoring ongoing cybersecurity concerns in the industry as global regulators try to rein it in. The vulnerabilities, dubbed “BitForge”, are affecting 15 widely used cryptocurrency wallet providers and projects, according to digital-asset infrastructure and custody firm Fireblocks, which presented the... https://www.scmp.com/tech/article/3230817/crypto-custody-firm-fireblocks-reveals-bitforge-vulnerabilities-threatened-funds-major-exchanges?utm_source=rss_feed https://www.scmp.com/tech/article/3230817/crypto-custody-firm-fireblocks-reveals-bitforge-vulnerabilities-threatened-funds-major-exchanges?utm_source=rss_feed Fri, 11 Aug 2023 14:30:08 +0000