Chinese tech giants race to expand AI services market with latest open-standard protocol

Chinese tech giants race to expand AI services market with latest open-standard protocol

Major Chinese technology companies are racing to launch services based on the open model context protocol (MCP), which enables Manus-like artificial intelligence (AI) agents to connect with third-party online tools, data sources and systems – a trend that could expand the commercial adoption of such applications. Alipay operator Ant Group – the fintech affiliate of…

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Euroclear joins Hong Kong’s wCBDC Project Ensemble – Ledger Insights

Euroclear has joined Project Ensemble, the wholesale central bank digital currency (wCBDC) initiative from the Hong Kong Monetary Authority (HKMA). The project explores using wCBDC for the settlement of tokenization transactions and for interbank settlement of tokenized deposits. Euroclear becomes a member of the Architecture Community and is the sole financial market infrastructure (FMI) community…

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China tech contest features robotics, US$200,000 prize pool amid AI investment frenzy

An innovation competition co-organised by China’s fintech giant Ant Group and renowned universities including the Chinese University of Hong Kong (CUHK) is featuring robotics for the first time, a reflection of rising interest in the technology. The ATEC Championship 2025, hosted by the industry-university-research collaboration platform Advanced Technology Exploration Community (ATEC), has adopted the theme…

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Tech bros back in China's official spotlight as Jack Ma meets Xi

Tech bros back in China’s official spotlight as Jack Ma meets Xi

Alibaba Group’s formerly exiled founder Jack Ma’s appearance at Chinese President Xi Jinping’s recent symposium highlights Beijing’s determination to use innovative technologies to maintain its economic growth. After forcing Alibaba’s Ant Group to scrap its initial public offering in Hong Kong in November 2020, Beijing spent a year and a half tightening regulations in the…

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Beijing’s schmoozing of China’s private sector a strategic move, analysts say

Beijing’s schmoozing of China’s private sector a strategic move, analysts say

Beijing is repositioning the private sector as the cornerstone of China’s global competitiveness and technological edge in the face of growing geopolitical and economic headwinds, according to analysts’ assessments following President Xi Jinping’s meeting with prominent entrepreneurs. Observers also emphasised the importance of more stimulus and policy reforms to get the ball rolling. The first…

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Tencent-backed WeBank eyes Web3 expansion in Hong Kong amid city’s virtual asset push

Tencent-backed WeBank eyes Web3 expansion in Hong Kong amid city’s virtual asset push

Tencent Holdings-backed online lender WeBank is leveraging its new Hong Kong subsidiary to tap the city’s expanding Web3 market, according to a company executive, as the financial hub continues its pursuit to establish itself as a virtual asset hub. WeBank Technology Services, launched this month, plans to be “deeply involved” in developing the city’s Web3…

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Tencent-backed WeBank eyes Web3 expansion in Hong Kong amid city’s virtual asset push

Tencent-backed WeBank eyes Web3 expansion in Hong Kong amid city’s virtual asset push

Tencent Holdings-backed online lender WeBank is leveraging its new Hong Kong subsidiary to tap the city’s expanding Web3 market, according to a company executive, as the financial hub continues its pursuit to establish itself as a virtual asset hub. WeBank Technology Services, launched this month, plans to be “deeply involved” in developing the city’s Web3…

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