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News from China
Siemens inaugurates digital institute in Suzhou
21st September 2016

 GERMAN industrial giant Siemens opened a digital research institute in Suzhou yesterday to tap into China’s smart transport and digital manufacturing markets. The institute will have seven laboratories, two of which are already operational.

One of them, a smart transport lab, develops applications that allow integrated connectivity in traffic systems. Researchers are collaborating with Changchun city government in northeast China to upgrade the city’s traffic systems. The other working lab, which is an Internet security lab, provides surveillance against cyber attacks.

The other five labs will cover the fields of data, industrial robotics, Internet of things and smart equipment applications.

China contributed nearly 10 percent of Siemens’ global sales last year where the group bid large on digital industrialization. Siemens will also set up an office in Shanghai next month.

Source: Shanghai Daily, September 21, 2016
New technologies ‘boost’ marketing
20th September 2016

 THE use of artificial intelligence, augmented reality and virtual reality technologies has made advertising and marketing more user-friendly and interesting, officials with tech giants Tencent Inc and Google Inc said yesterday.

Picture recognition, AR-featured games and VR experiences have been adopted by advertisers, like Pokemon Go in McDonald’s, and VR room review has been used by firms like Ctrip.

AI and data analysis offer dot-com firms the ability to “predict” consumer behavior and fashion trends. The new technologies have brought data-driven firms, like Tencent, unique advantages, Steven Chang, corporate vice president of Tencent, said at an AI marketing forum in Shanghai yesterday.

“The technologies have changed marketing rules of the TV and newspaper era, even though they had existed for up to over 75 years,” said Chang, whose Tencent boasts millions of users on its social, game, video, news and e-commerce platforms.

Scott Beaumont, president of Google China, expects AI and data analysis to be key drivers in improving marketing methods, covering machine learning, picture recognition and integrated data analysis.

In China, VR has become a game-changing technology in the industry, making marketing more interactive.

More than 6.35 million VR devices are expected to be sold globally this year, 40 percent coming from China, according to industry analysts

Source: Shanghai Daily, September, 20
Chinese banks' net forex sales plummet in August
20th September 2016

Chinese banks saw their net foreign exchange sales dropped by 70 percent from July to 9.5 billion U.S. dollars in August, official data showed Monday.

Chinese lenders bought 125.7 billion dollars' worth of foreign currency last month and sold 135.2 billion dollars, the State Administration of Foreign Exchange (SAFE) said in a statement.

The amount of net sales in August was the lowest since July 2015.
 
A SAFE spokesperson attributed the decrease largely to seasonal factors as forex demand had been satiated the previous month as many foreign companies in China remit profits overseas in July, which is also the high season for overseas travels.
 
Despite the monthly drop, the forex market remains calm, the spokesperson said, predicting stable and more balanced capital flow in the long term.
 
Source: Xinhua
Embattled Samsung sells share stakes
19th September 2016

 SAMSUNG Electronics said yesterday it had sold shares it held in four technology companies including US chipmaker Rambus and Japan’s Sharp to free up money and focus on its main business.

The South Korean tech giant said it had also sold shares in Dutch semiconductor equipment maker ASLM and US hard drive maker Seagate.

Samsung ­— the world's top smartphone maker which also manufactures memory chips, TVs and home appliances — has for years bought shares in other tech firms in semiconductor or display panel industries.

“It was aimed at focusing on our core business by efficiently managing the investments made in the past in line with changes in business environments,” Samsung said.

The news of the sales came as the firm is mired in a major recall of its flagship smartphone over a series of battery explosions.

The global recall of the Galaxy Note 7 smartphone raised alarm among air carriers and aviation safety authorities worldwide that banned the device on flights.

Samsung sold half of a 3-percent stake it held in ASML, and its entire stakes in the other three companies for “efficient management of assets,” it said. It had held a 4.5-percent stake in Rambus, 0.7 percent of Sharp and a 4.2-percent stake in Seagate.

The firm did not elaborate on the timing or the value of the sales.

Source: shanghai daily

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