Day: March 9, 2024

China’s property sector has been grappling with a liquidity crisis since mid-2021, with major developers defaulting on or delaying debt payments following a regulatory crackdown on high leverage. 04:49 Anger mounts as China’s property debt crisis leaves flats unfinished Anger mounts as China’s property debt crisis leaves flats unfinished Industry giant China Evergrande Group was wound up in January and competitor Country Garden Holdings is facing a liquidation petition in Hong Kong. Many others, including China Vanke, the country’s second-biggest real estate firm, struggle to sell flats and raise funds,…

The reason behind Manila’s new approaches is the significant disparity in maritime law enforcement and naval power between the Philippines and China. Manila lacks the capability to get Beijing to withdraw from disputed areas like Scarborough Shoal and Second Thomas Shoal. To ensure the constant presence of its maritime law enforcement in the waters surrounding Scarborough Shoal however, providing “humanitarian supplies” to Filipino fishermen operating in the area can be used as a plausible pretext. There is also a legal aspect. The 2016 South China Sea arbitration ruling only confirms…

He then took part in a discussion with the NPC delegation of the People’s Liberation Army (PLA) and the People’s Armed Police Force on Thursday. Xi, who is also China’s top military commander, called on the military representatives to integrate hi-tech development with the PLA’s war capacity to “comprehensively enhance strategic capabilities in emerging areas”. China’s AI gap with US is widening: ‘we are all very anxious’ Xi’s instructions during the annual parliamentary meetings, known as the “two sessions”, appeared on the front page of all mainland newspapers and was…

“Zhejiang has a strong economic history and a demand for tech stuff, which helps Taiwanese companies, owing to support from the local government,” said Darson Chiu, a ­fellow with the Taiwan Institute of Economic Research. Taiwan-mainland China investment hits 22-year valley as relations sour But the forums, tax breaks, cuts in red tape and land discounts offered by governments in parts of mainland China are still not enough to attract Taiwanese companies to invest if they are not already in the market, industry analysts and a trade group official said.…

It has been widely praised for its advanced, realistic depictions of things and hailed as a massive step forward for generative AI, but the company has admitted it still struggles to simulate some aspects of the real world and cannot “accurately model the physics of many basic interactions, like glass shattering”. Sora is trained using large amounts of visual data, allowing it to pick up patterns to generate images and videos that mimic reality. But it is not trained to understand physical laws such as gravity. “Without a fundamental understanding…