City Hangzhou Financial News

Chinese citizens have begun using the digital yuan to pay “inter-city” tax bills – doing away with the need to conduct wire transfers to local tax authorities via banks.

Subscribe to enjoy similar stories.A COURT IN Hangzhou, AI capital of China, ruled in late April that companies cannot fire their staff and replace them with artificial intelligence. This may come as a relief to plenty of people in a metropolis that is home to Alibaba, one of Chinese tech’s mightiest titans, with a total payroll of 128,000 employees. It is also good for Hangzhou’s commercial landlords, who have little use for AI agents and are desperate for human desk jockeys.China’s dazzling skylines are worryingly lifeless.

Subscribe to enjoy similar stories. ON JANUARY 20TH 2025 DeepSeek was an obscure hedge-fund-turned-tech-startup from Hangzhou. Within a week it had become the byword for a new wave of Chinese innovation, after launching an artificial-intelligence model as capable as Silicon Valley’s bleeding edge but much cheaper to build and run.

BEIJING — Alibaba-affiliate Ant Group is using both Chinese and U.S.-made semiconductors for building more efficient artificial intelligence models, according to a source familiar with the matter.

pet cloning after spending 160,000 yuan (approximately US$22,000 or over Rs 19 lakh) to clone her deceased Doberman. According to The Star magazine, while pet cloning is legal in China, it must be carried out by certified companies following strict ethical guidelines. The woman, identified by her surname Xu, resides in Hangzhou, eastern China. She recounted her experience to the mainland media outlet Personage, revealing that she first adopted her Doberman, named Joker, in 2011. Over the years, Joker became more than just a pet—he was a steadfast companion, offering Xu an invaluable sense of security, particularly during the years she lived alone. Joker’s health began to deteriorate as he aged. At nine years old, he was diagnosed with a malignant sarcoma in his neck. Given the risks associated with anesthesia, he underwent surgery without sedation, exhibiting remarkable composure and trust. Xu was deeply moved by his resilience, stating that he endured the pain bravely.

DeepSeek's latest AI model gained global attention in the last two weeks, but now the company is maintaining secrecy about its next moves.

BEIJING — China's property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing's tech push, Milken Institute's best performing cities China index showed Tuesday.

Sheetal Devi has left everyone impressed with her expectional skills who made her debut at the world's biggest sports stage this year. Sheetal, who displayed a stunning performance in the qualification of Women's Individual Compound Archery by breaking the previous World Record of 698 by shooting 703 points out of a possible 720 for a second-place finish, lost to Chile's Zuniga Mariana by 137-138. Such a narrow margin prevented her from going into the knockout stages. Read more: Meet Sheetal Devi, Indian archer who became a Para archery sensation against all odds

Paris 2024 Olympics, India's Reetika Hooda faced off against the top-seeded Aiperi Medet Kyzy of Kyrgyzstan in the women’s 76kg freestyle wrestling event. The match ended in a narrow defeat for Hooda, with the score tied at 1-1. However, Medet Kyzy advanced due to scoring the last equalizing point, as per wrestling rules.

Paris today with an audacious ceremony on the River Seine, the 117-strong Indian contingent begins their own audacious attempt at a first-ever double-digit medal haul. It may sound ambitious, but it’s not a pipe dream.

Shares of Chinese property developers surged on rising expectations that government entities in China are moving to help buy up excess housing in a bid to revive the struggling real-estate sector. The Hang Seng Mainland Properties Index, which tracks Chinese property developers listed in Hong Kong, was up 5.6% in afternoon trading Thursday.

European carmaker Stellantis says it will begin selling electric vehicles from its Chinese partner Leapmotor in nine European countries later this year

purchase restrictions on Thursday to lure buyers and shore up their sagging real estate markets, raising the prospect of other megacities following suit. As of May 9, Hangzhou and Xian will no longer vet the eligibility of potential buyers, the cities' housing authorities said in separate notices, shedding requirements previously imposed to deter speculators and block buyers who are not legal residents of the cities or local tax payers.

IPL 2024: Twenty-two year old Sri Lankan spinner Vijayakanth Viyaskanth has been chosen to replace Sunrisers Hyderabad legspinner Wanindu Hasaranga. Hasaranga was ruled out of the ongoing Indian Premier League (IPL) 2024 due to chronic heel pain in his left foot, ESPNcricinfo reported on Tuesday. Follow PBKS vs SRH 2024 IPL Live Score here "Wanindu Hasaranga will be unavailable for the season due to injury.

Chinese law enforcers say they have shut down a gang that was using digital yuan wallets to launder money.

Yashasvi Jaiswal has been nominated for the ICC Men's Emerging Cricketer of the Year 2023 award with three other international stars, The International Cricket Council (ICC) announced on Wednesday. «A pair of exciting fast bowlers and two classy left-hand batters are in the running for ICC Men's Emerging Cricketer of the Year honours for 2023,» ICC said in an official statement. New Zealand's star batter Rachin Ravindra, South Africa's pace sensation Gerald Coetzee and Sri Lanka pacer Dilshan Madushanka are the contenders to win the award.

Asian Para Games 2023 in Hangzhou. They ended their campaign in fifth place on the medals table with 111 medals — 29 gold, 31 silver and 51 bronze. The Asian Para Games 2023 was India's best-ever medal tally at the continental multi-sport event after passing the previous record of the 2018 Asian Para Games, where they clinched 72 medals, including 15 gold, from the 2018 Asian Para Games. Only China, Iran, Japan and the Republic of Korea were ahead of India in the medal tally of the multi-sport event.

ALSO READ: PM Modi consoles Mohammed Shami at dressing room, bowler says, 'We will bounce back' The BCCI said that Hardik Pandya will miss out due to an ankle injury that he sustained during the Cricket World Cup league stage match against Bangladesh. For the series, Shreyas Iyer will join the squad as vice-captain for the last two T20Is in Raipur and Bengaluru.

Asian Para Games in Hangzhou with Dilip Mahadu Gavit claiming a gold medal. Gavit won a gold medal in Men's 400m T47 event. He claimed the prestigious gold with a brilliant run time of 49.48 secs. For the first time, the Indian para contingent has won 100 medals, making this their most successful Para Asian Games campaign to date.

Asian Para Games, taking country's tally to 80, including 18 gold medals. India have now gone past the earlier best of 72 achieved in the 2018 edition in Indonesia. India's medal tally read 18 gold, 23 silver and 39 bonze, and the count will keep on increasing till the end of the fourth day of competitions.

A Singaporean payments firm has sealed a “cross-border” digital yuan cooperation deal with a major Chinese bank, in another breakthrough for the CBDC.

Army chief Gen Manoj Pande on Wednesday felicitated Olympian Neeraj Chopra and several other sportspersons for their remarkable accomplishments at the Asian Games in China, and said the army will continue to support and nurture sporting talent. India bagged its highest-ever total of 107 medals at the Asian Games in Hangzhou. In his address at the felicitation ceremony held at Manekshaw Centre here, Gen Pande said the Indian Army also made a significant contribution of 20 medals — three Gold, seven Silver, and 10 Bronze — to the country's tally.