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Tencenti

Headquartered in Shenzhen, Tencent is one of China's and the world's largest internet services companies, with interests in media, entertainment, web and mobile communications, advertising, e-commerce and internet banking.

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  • Tencent collaborated with researchers from universities in Hong Kong and Beijing amid growing excitement around AI video generation
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Ant Group’s Alipay and Tencent’s WeChat Pay are enhancing operations to make it easier for foreign travellers to pay for goods and services on the mainland, the world’s largest cashless society.

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GSR Ventures’ Allen Zhu sees the current investor interest generated by artificial intelligence start-ups that are building large language models as based on a ‘fear of missing out’.

AMD had hoped to get Washington’s approval to sell to Chinese customers its MI309 processor, which performs at a lower level than what the company sells globally.

The MiniMax deal would mark Alibaba’s second major artificial intelligence start-up investment this year after leading Moonshot AI’s US$1 billion funding round in February.

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Proposals like the one submitted by Zhihu CEO Zhou Yuan signal that policymakers are actively discussing how to boost the platform economy, analysts say.

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From top-level meetings to AI discussions and a shock investment discovery by the House, here are a few highlights from the SCMP’s US-based correspondents in February 2024.

The initiative seeks to ‘lower the threshold of cloud services for more enterprises and developers’ in mainland China, where artificial intelligence development projects are driving demand.

The increased interest in bitcoin reflects how a community of cryptocurrency enthusiasts on the mainland continues to thrive, despite a sweeping government ban.

China grants licences to more than 100 new domestic titles, giving the industry another confidence boost after a video-game-related stock rout in December.

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An engineer who worked on Google’s VideoPoet video generation technology has joined TikTok owner ByteDance, as Big Tech companies race to advance generative AI tools.

The introduction of Sora has forced China’s AI industry to again grapple with how it will catch up to the latest tech in the face of escalating US sanctions.

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Tuhu Car, a Chinese car maintenance and repair company listed in Hong Kong, said it expects its financial results for 2023 to reflect a turnaround in its business as a post-pandemic rebound in domestic travel boosted demand for its services.

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Tencent and ByteDance each had two apps in the top five, with four of the five being more than a decade old, according to MIIT report on Lunar New Year period usage.

Tencent is working with the Ministry of Culture and Tourism to use digital technology to renew traditional Chinese opera, starting with the story of legendary heroine Hua Mulan.

IDG is one of the oldest venture firms in the market and has been in China since 1993, having invested in more than 1,600 companies, with 500 of them going public or getting acquired.

Douyu and Huya say they have no plans to merge after a failed attempt in 2020, but they are collaborating as Tencent prepares to allow its top games back on rival platform Douyin.

Chinese social media and gaming giant Tencent Holdings has acquired a controlling stake in a 15-year-old local video game studio, a move that fits with the company’s revenue diversification strategy.

China approved a new batch of foreign video games on Friday, including hit title Dungeon & Fighter Mobile, as Beijing seeks to reassure the market after scrapping a controversial gaming regulation.

Only three of 33 Chinese video gaming companies said ‘global political and economic turbulence’ had a ‘relatively big’ impact on overseas operations, according to industry survey.

The founder also warns staff to focus on ‘safety, not speed’ when venturing into new fintech services like loans and insurance, according to Chinese media reports and people familiar with the situation.

The Shenzhen-based internet giant must find new lifelines in its video gaming and social media operations, Ma told employees at the firm’s annual meeting.