Reuters Asia Business

By Anna Tong, Max A. Cherney and Krystal Hu SAN FRANCISCO/NEW YORK (Reuters) – OpenAI is pushing ahead on its plan to reduce its reliance on Nvidia for its chip supply by developing its first generation of in-house artificial-intelligence silicon. The ChatGPT maker is finalizing the design for its first in-house chip in the next …

Exclusive-OpenAI set to finalize first custom chip design this year  Read More »

TURIN (Reuters) -Chinese EV giant BYD is in talks to form a pool with European automakers and sell them carbon credits to help them avoid hefty European Union fines on 2025 emissions, a BYD representative said on Monday. “We’re in talks, we are well underway,” BYD’s special adviser for Europe Alfredo Altavilla said during a …

China’s BYD in advanced talks to form pool in Europe over carbon credits Read More »

BEIJING (Reuters) -China will boost residents’ income to support consumer spending, according to a cabinet meeting hosted by Premier Li Qiang, the national television broadcaster CCTV reported on Monday. Chinese leaders have pledged to “vigorously” boost consumption this year as they seek to stimulate domestic demand and offset an anticipated decline in exports – a …

China to boost residents’ income to spur spending Read More »

By Andrew Silver and Nicoco Chan YIWU, China (Reuters) – Traders in China’s export manufacturing hub of Yiwu shrugged off U.S. President Donald Trump’s tariffs and moves against China on Sunday, with some saying they made preparations to soften the blow. Yiwu city in eastern China’s Zhejiang province is the world’s largest wholesale hub for …

In China’s export hub of Yiwu, traders shrug off Trump’s tariffs Read More »

By Wen-Yee Lee TAIPEI (Reuters) – When Taiwan’s Powerchip Technology entered a deal with the eastern Chinese city of Hefei in 2015 to set up a new chip foundry, it hoped the move would help provide better access the promising Chinese market.  Nine years later, however, that Chinese foundry, Nexchip, has become one of its …

Taiwan’s legacy chip industry contemplates future as China eats into share​ Read More »

(This Jan. 20 story has been corrected to change the birth year from 1974 to 1973, in paragraph 5) BEIJING (Reuters) – Zou Lan, head of the monetary policy department at the People’s Bank of China (PBOC), will be promoted to deputy governor of the central bank, two sources with knowledge of the matter said. …

China to name Zou Lan as central bank deputy governor, sources say Read More »

BEIJING (Reuters) – China has appointed Zou Lan as deputy governor of the People’s Bank of China (PBOC), the human resources ministry said on Monday in a statement. Zou, who was born in 1973, is the youngest deputy governor at the central bank, which has one governor and four deputy governors. Zou’s career at the …

China names Zou Lan as central bank deputy governor Read More »

TOKYO (Reuters) -Japanese cosmetics giant Shiseido said on Monday its full-year profit slumped 73%, partly due to a drop in consumer spending in key overseas market China, a trend the company expects to continue into 2025. Shiseido said its operating profit came in at 7.58 billion yen ($49.9 million) in the 12-month period ended December …

Japan’s Shiseido says annual profit plunges 73% amid sluggish sales in China Read More »