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Time of India
5 days ago
- Business
- Time of India
China commerce minister says he met Nvidia CEO in Beijing
By Che Pan and Casey Hall BEIJING: China 's Commerce Minister Wang Wentao said on Friday he met with Nvidia CEO Jensen Huang in Beijing on Thursday. Wang said at a press conference that Huang has been dominating social media over the past few days during his visit to China, but Wang did not provide any details about what was discussed at their meeting. Nvidia declined to comment. During his third China visit this year, Huang, the founder and CEO of the world's most valuable company, also met with Ren Hongbin, chairman of China Council for the Promotion of International Trade and the country's Vice Premier He Lifeng. Chinese officials told Huang they welcomed foreign companies to continue to invest in the country, the Nvidia CEO said at a press conference in Beijing on Wednesday. At the event, Huang described artificial intelligence models from Chinese firms Deepseek, Alibaba and Tencent as "world class" and said AI was "revolutionising" supply chains. Huang also said Chinese customers' demand for its H20 AI chip , which was released from U.S. export controls this week, is high but no purchase orders have been fulfilled yet as it awaits U.S. government approval for export licences. Nvidia has also announced it is developing a new chip for Chinese clients called the RTX Pro GPU, which would be compliant with U.S. export restrictions and designed specifically for smart factories and for robot training purposes.
The Sun
5 days ago
- Business
- The Sun
Nvidia CEO and China commerce minister discuss AI, investment
BEIJING: China's Commerce Minister Wang Wentao told Nvidia CEO Jensen Huang on Thursday that he hoped multinational companies including Nvidia, would provide high-quality and reliable products and services to Chinese customers, the ministry said in a statement. Huang said the Chinese market was very attractive, and Nvidia was willing to deepen cooperation with Chinese partners in the field of artificial intelligence (AI), according to the commerce ministry's statement released yesterday. Wang said China's policy of attracting foreign investment would not change and the door to openness would only open wider. Nvidia declined to comment further. During his third China visit this year, Huang, the founder and CEO of the world's most valuable company, also met with Ren Hongbin, chairman of China Council for the Promotion of International Trade and the country's Vice-Premier He Lifeng. Chinese officials told Huang they welcomed foreign companies to continue to invest in the country, the Nvidia CEO said at a press conference in Beijing on Wednesday. At the event, Huang described AI models from Chinese firms Deepseek, Alibaba and Tencent as 'world class' and said AI was 'revolutionising' supply chains. China's commerce ministry said in a separate statement yesterday that the US had told Beijing that it would approve sales of Nvidia's H20 AI chips to Chinese customers. Huang said on Wednesday that Chinese customers' demand for the H20, which was released from US export controls this week, is high but no purchase orders have been fulfilled yet as it awaits US government approval for export licences. Nvidia has also announced it is developing a new chip for Chinese clients called the RTX Pro GPU, which would be compliant with US export restrictions and designed specifically for smart factories and for robot training purposes. – Reuters
The Sun
5 days ago
- Business
- The Sun
Nvidia CEO meets China commerce minister on AI and foreign investment
BEIJING: China's Commerce Minister Wang Wentao met with Nvidia CEO Jensen Huang to discuss foreign investment and artificial intelligence (AI) collaboration. The ministry stated that Wang emphasized China's commitment to welcoming multinational companies, including Nvidia, to provide high-quality products and services to Chinese customers. Huang acknowledged the attractiveness of the Chinese market and expressed Nvidia's willingness to strengthen AI partnerships with local firms. 'The Chinese market is very attractive, and Nvidia is willing to deepen cooperation with Chinese partners in the field of artificial intelligence,' the commerce ministry quoted Huang as saying. Wang reiterated China's open-door policy for foreign investment, stating that the country's stance on attracting global businesses remains unchanged. The meeting follows Huang's third visit to China this year, where he also engaged with senior officials, including Vice Premier He Lifeng and Ren Hongbin, chairman of the China Council for the Promotion of International Trade. At a press conference in Beijing, Huang praised Chinese AI advancements, calling models from firms like Deepseek, Alibaba, and Tencent 'world class.' He highlighted AI's transformative impact on supply chains, saying it is 'revolutionising' the sector. The commerce ministry also confirmed that the U.S. has agreed to approve sales of Nvidia's H20 AI chips to Chinese customers. Huang noted strong demand for the H20, which recently cleared U.S. export controls, but clarified that no orders have been fulfilled pending final U.S. government approval. Additionally, Nvidia is developing a new chip, the RTX Pro GPU, tailored for Chinese clients. Designed for smart factories and robot training, the chip complies with U.S. export restrictions. - Reuters
IOL News
16-07-2025
- Business
- IOL News
Mashatile in China: Uniquely South African products showcased at China International Supply Chain Expo
Deputy President Paul Mashatile is on a weeklong strategic Working Visit to the People's Republic of China. Image: South African Government/X Deputy President Paul Mashatile, who is on a strategic Working Visit to the People's Republic of China, has addressed the China International Supply Chain Expo (CISCE) opening ceremony in Beijing. The tour of China started on Monday and is scheduled to continue until Friday. Mashatile is accompanied by a delegation that includes Deputy Minister of International Relations and Cooperation, Thandi Moraka; Minister of Small Business Development, Stella Ndabeni-Abrahams; Minister of Tourism, Patricia de Lille; Minister of Trade, Industry and Competition, Parks Tau; Minister of Water and Sanitation, Pemmy Majodina, and Minister of Agriculture, John Steenhuisen. In its third year, CISCE is the world's first national-level expo dedicated to global supply chains. It is hosted under the auspices of the Chinese Central Government and the China Council for the Promotion of International Trade (CCPIT). 'It is my honour to address you today at the opening ceremony of the third China International Supply Chain Expo, a prestigious event that showcases the latest developments in supply chain management,' said Mashatile. He said the high-level expo is crucial for both South Africa and China because it promotes trade, investment, cooperation, innovation, and learning within the global supply chain ecosystem. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ 'South Africa is committed to strengthening global supply chains and fostering resilience in the face of challenges. In today's rapidly changing world, the global supply chain landscape is facing unprecedented challenges, from natural disasters to political upheavals,' said Mashatile. During his address, Mashatile acknowledged Chinese Vice Premier, He Lifeng; China Council for the Promotion of International Trade (CCPIT) chairman, Ren Hongbin, Chairman; Deputy Permanent Ministry of Commerce of the Kingdom of Thailand, Ekachat Seetavorarat; and multiple CEOs and business executives. Despite ongoing challenges, Mashatile said South Africa's supply chain sector is experiencing growth, driven by increased e-commerce activity and technological advancements. Deputy President Paul Mashatile is in Beijing at the invitation of the chairman of the China Council for the Promotion of International Trade (CCPIT), Ren Hongbin. Image: Paul Mashatile/X 'Our business communities have been resilient and adapting through strategies like diversifying suppliers, holding more inventory, and investing in digital transformation,' he said. 'As government, we have also adopted policies and strategies that are conducive for business to strive. We understand the importance of building robust supply chains that can withstand disruptions and ensure the efficient flow of goods and services.' The deputy president said South Africa's diverse economy and strategic location make it a natural gateway for trade and investment, connecting Africa to the rest of the world. 'As we gather here in China, a key partner in our economic journey, I see great opportunities for collaboration and mutual growth. Together, we can leverage our strengths and capabilities to further build supply chains that are not only efficient and cost-effective but also sustainable and resilient,' he said. 'The fact that China and South Africa have a strong desire to diversify and expand trade between Africa and China is crucial to our efforts to create a solid supply chain.' South Africa's export portfolio to China comprises mainly basic commodities. Mashatile said while the trade volumes confirm South Africa's natural endowment, the heavy slant towards mineral-based exports fails to give a true impression of South Africa's advanced infrastructure, its diversified industrial base, and leading service sectors. 'Our inaugural participation at the China International Supply Chain Expo provides the opportunity to showcase this diversity. Once again, let me reiterate our gratitude for the facilitation and the courtesies extended to the South African official and business delegation,' said Mashatile. The deputy president's delegation was accompanied by 30 manufacturers and producers of uniquely South African products and services. 'These products and services showcase the diversity of South African exports, ranging from ethically sourced and clean cosmetics comprising pure natural extracts as well as durable electro-technical equipment that has passed the tests of extreme African climate conditions,' said Mashatile. 'Naturally, our offering would not be complete without companies that are showcasing the finest of South African clothing, leather, and footwear. 'We are exceptionally proud of the delegation that comprises plastics, chemical and mining engineering firms whose services have met the Chinese standards such that they have been able to jointly complete infrastructure projects with Chinese firms,' he said. It is believed that the CISCE will be instrumental in linking up Chinese buyers and importers with the South African producers at the stands during the expo. South Africa has invited its Chinese counterparts to support and participate in the key pillars of Pretoria's G20 agenda by investing in green industrial projects, renewable energy, digital infrastructure, and regional manufacturing initiatives in South Africa and across the African continent. 'Through such collaboration, we can deepen our strategic partnership and ensure that the outcomes of South Africa's G20 presidency reflect the shared aspirations of the Global South,' said Mashatile. 'Against this backdrop, we also look forward to hosting Chinese and other international buyers, importers and distributors in a tailored procurement mission that we will arrange on the margins of the G20 Summit in November 2025,' he said. For more than a decade, China has been South Africa's largest trading partner. This position has been held by China since 2008, when it surpassed the United States. China is also South Africa's largest trading partner in Africa, with bilateral trade between the two countries accounting for a significant portion of China's total trade with the continent. IOL News
Time of India
15-07-2025
- Business
- Time of India
Nvidia says it will resume sales of 'H20' AI chips to China
Academy Empower your mind, elevate your skills US tech giant Nvidia said on Tuesday it will resume sales of its H20 artificial intelligence chips to China, after Washington pledged to remove licensing curbs that had put a stop to California-based firm produces some of the world's most advanced semiconductors but is not allowed to ship its most cutting-edge chips to China owing to concerns that Beijing could use them to boost its military developed the H20 -- a less powerful version of its AI processing units -- specifically for export to China, although that plan hit the skids when the Trump administration firmed up export licence requirements in company said in a statement on Tuesday that it was "filing applications to sell the Nvidia H20 GPU again"."The US government has assured Nvidia that licences will be granted, and Nvidia hopes to start deliveries soon," the statement CEO Jensen Huang said in a video published by Chinese state broadcaster CCTV on Tuesday "the US government has approved for us (to file) licences to start shipping H20s, and so we will start to sell H20s to the Chinese market"."I'm looking forward to shipping H20s very soon, and so I'm very happy with that very, very good news," Huang, wearing his trademark black leather jacket, told a group of said in a separate report that Huang would attend a major supply chain gathering on Taiwan-born executive "will be present at the opening ceremony of the 3rd China International Supply Chain Expo on July 16 and will participate in related activities", the broadcaster cited the China Council for the Promotion of International Trade, an official body controlled by Beijing's commerce will be Huang's third trip to China this year, according to is a crucial market for Nvidia but in recent years the US export squeeze has left it battling tougher competition from local players such as homegrown champion has decried Washington's curbs as unfair and designed to hinder its an electrical engineer, told Chinese Vice Premier He Lifeng on a visit to Beijing in April that he "looked favourably upon the potential of the Chinese economy", according to state news agency said he was "willing to continue to plough deeply into the Chinese market and play a positive role in promoting US-China trade cooperation ", Xinhua tightened US export curbs have come as China's economy wavers, with domestic consumers reluctant to spend and a prolonged property sector crisis weighing on Xi Jinping has called for China to become more self-reliant as uncertainty in the external environment Financial Times reported in May that Nvidia was planning to build a research and development centre in Shanghai. Neither Nvidia nor the city's authorities confirmed the project to AFP at the economy grew 5.2% in the second quarter of the year, official data showed on Tuesday, after analysts predicted strong exports despite trade war pressures.
