WeRide joins Tencent Cloud to build smart driving services for overseas markets
Under the deal signed on Tuesday, Tencent's cloud unit "will rely on its global cloud infrastructure and operational experience to provide WeRide with overseas localised and compliant cloud services to build an efficient and stable intelligent driving operation network," according to a company statement.
(Reporting by Beijing newsroom, Editing by Louise Heavens)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
21 minutes ago
- New Straits Times
China, HK stocks power ahead as eased trade tensions fuel rally
SHANGHAI: China stocks rose for a fifth straight session on Wednesday while Hong Kong shares hit near four-year highs, as eased China-US trade tensions added fuel to a rally driven by a trillion-yuan hydropower dam project in Tibet and Beijing's campaign against intense price wars. Both China's blue-chip CSI300 Index and the Shanghai Composite Index climbed as much as 0.9 per cent to eight-month highs, before paring gains to end slightly higher. Hong Kong's benchmark Hang Seng jumped 1.6 per cent to hit its highest level since late 2021. In a sign the rally likely has legs, daily turnover in China stocks was near five-month highs on Wednesday, while margin financing - money borrowed to buy stocks - has hit a level not seen in nearly four months. "External and internal headwinds have subsided faster than expected," Huatai Securities said in a note to clients, adding that "in the latest round of tariff talks with the US, China has strengthened its hand." China's economy benefits from the government's stepped-up campaign against 'involutionary competition' and positive real estate policies, Huatai added. In a sign of reduced tensions, US Treasury Secretary Scott Bessent said on Tuesday that US and Chinese officials will meet in Stockholm next week to discuss an extension of the deadline for negotiating a trade deal. "I think trade is in a very good place with China," Bessent said. Chinese tech stocks, which are sensitive to China-US relations, jumped on Wednesday. China's tech-focused STAR50 Index gained 0.5 per cent, while Hong Kong's Hang Seng Tech Index jumped 2.5 per cent. Sentiment has been buoyed by bets that steelmakers, coal miners and solar energy firms will benefit from Beijing's move to cut industrial capacity and rein in deflation, though some stocks in these sectors corrected on Wednesday following recent price surges. Mood has also been aided by China's massive hydropower dam project that started construction this week.
The Star
21 minutes ago
- The Star
China says it spoke with neighbours on planned mega-dam's impacts
The project could boost China's economic growth by almost 0.1 percentage point in the first year of its construction. - Photo: Pixabay BEIJING: China said it has talked with countries downstream about its new dam project in Tibet, a massive undertaking that will affect a key source of water for India and Bangladesh. "China has carried out cooperation on hydrology reporting, flood prevention and disaster alleviation with relevant downstream countries and has had necessary communication with them,' said Chinese Foreign Ministry spokesman Guo Jiakun during a regular press conference on Wednesday (July 23). Chinese Premier Li Qiang on Saturday presided over a launch ceremony for the 1.2 trillion yuan (US$167 billion) hydropower project, which is three times the size of the Three Gorges Dam, on the lower reaches of the Yarlung Tsangpo river. The dam could become a source of tension between China and India, as the river runs through the state of Arunachal Pradesh in northeast India and feeds into the Brahmaputra River, which then flows into Bangladesh. The project could boost China's economic growth by almost 0.1 percentage point in the first year of its construction, Citigroup Inc. analysts said in a note on Monday. Guo also said that China will avoid sensitive natural areas, and make the utmost effort to preserve the original ecosystem in the area when constructing the dam. - Bloomberg
The Sun
21 minutes ago
- The Sun
Trump announces massive Japan trade deal with $550B investment
WASHINGTON: US President Donald Trump announced a 'massive' trade deal with Japan on Tuesday, marking the fifth agreement secured under his administration's push for '90 deals in 90 days.' The deal includes a $550 billion investment from Japan into the US, with Trump claiming it will create 'hundreds of thousands of jobs.' The agreement comes just days before an August 1 deadline, after which the US threatened to impose higher tariffs on countries failing to negotiate new trade terms. Japan faced potential auto tariff increases from 10% to 25%, but under the new deal, levies on vehicles will drop to 15%. Japanese Prime Minister Shigeru Ishiba confirmed the reduction, which sent shares of major automakers like Toyota and Mitsubishi surging by 14%. The Nikkei index also rose 3.5%. 'We continued negotiations to meet the national interest of both Japan and the United States,' Ishiba said. However, Japan's trade envoy Ryosei Akazawa clarified that 50% tariffs on steel and aluminium remain unchanged. Increased defense spending, a key demand from Trump, was also excluded from the agreement. The deal includes expanded US agricultural exports, particularly rice—a sensitive issue in Japan. Ishiba assured that Japan's agricultural sector would not be 'sacrificed,' with additional imports staying within WTO commitments. Business leaders cautiously welcomed the deal, though some demanded more details. Tatsuo Yasunaga of the Japan Foreign Trade Council called it a 'major milestone' but stressed the need for clarity on its full impact. Public reaction in Japan was mixed. 'It's disappointing that Japan cannot act more strongly,' said Naomi Omura, an 80-year-old voter. Meanwhile, Tetsuo Momiyama, 81, criticized Ishiba's leadership, saying, 'It's good timing for him to go.' Reports suggest Ishiba may resign following recent election losses. Trump also announced a smaller tariff reduction for the Philippines, another US ally, but negotiations with China, Canada, Mexico, and the EU remain unresolved. US Treasury Secretary Scott Bessent is set to meet Chinese officials next week in Stockholm. China responded cautiously, with foreign ministry spokesman Guo Jiakun stating, 'China supports equal dialogue to solve trade issues.' - AFP
