India's financial crime fighting agency summons Google, Meta executives, sources say
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South China Morning Post
4 hours ago
- South China Morning Post
China's quest for AI self-reliance undeterred by Trump's new action plan
Despite recent concessions and shifts in rhetoric, US President Donald Trump's new artificial intelligence action plan leaves the core of American policy towards China unchanged – maintaining tight restrictions on key technologies while accelerating deregulation and infrastructure support for his country's AI giants. Analysts said the administration's strategy would intensify the US-China tech rivalry, and with Washington unlikely to loosen its grip, China would have little choice but to double down on self-reliance. The White House on Wednesday unveiled its first comprehensive AI strategy since Trump's return to office, outlining plans to tighten export controls on US chipmaking tools and curb the global spread of Chinese AI models. Trump's AI strategy reflects a subtle shift in rhetoric from the 'small yard, high fence' approach of his predecessor Joe Biden, but in essence little has changed, said Bo Zhengyuan of Plenum. 'So far, the 'yard' hasn't gotten any smaller,' added Bo, a partner at the independent China-focused research platform. 'What's different is the rhetoric – it's now more head-to-head than containment.' The 28-page action plan tasks the US Commerce Department with closing loopholes in current export restrictions, boosting oversight of end users abroad, and exploring the use of geolocation tools to block access to 'countries of concern' such as China.
South China Morning Post
7 hours ago
- South China Morning Post
Pop Mart sues 7-Eleven store owners in US, alleging Labubu trademark infringements
Chinese toymaker Pop Mart International is suing several 7-Eleven store operators in California for selling alleged counterfeits of its signature Labubu merchandise and infringing on its trademarks. Advertisement The group's Beijing, Singapore and US-based units, which hold the trademarks and copyrights, are seeking injunctions to stop 7-Eleven Inc and seven convenience store owners or franchisees from continuing to commit the offence, according to the July 18 complaint in a California district court. It is also seeking to disgorge their profits, punitive damages and costs of the lawsuit. Pop Mart confirmed the lawsuit on Thursday, without providing details on the timeline for the proceedings. 'Despite its rights and ability to control and exercise approval over franchisees, 7-Eleven has failed to utilise this control to prevent and stop the counterfeiting and infringement of Pop Mart's trademarks, trade dress and copyrights,' according to the complaint. 02:08 Labubu creator Kasing Lung shares the vision behind his unique plush toys Labubu creator Kasing Lung shares the vision behind his unique plush toys Pop Mart's Labubu dolls – mischievous, elfin figures with serrated teeth – have become a global sensation, helped by publicity generated by celebrity fans including David Beckham . Its success was also built on 'blind boxes' aimed at creating a sense of mystery, helping propel sales to more than US$1.8 billion globally in 2024.
The Standard
8 hours ago
- The Standard
HK stock spread cuts unlikely to boost turnover
A Stock Exchange of Hong Kong (HKEX) sign is seen at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS
