AGP Executive Report
Last update: 2 hours agoChip Industry: SMIC’s third-quarter profit jumped 123.4% year on year, while revenue hit a record $3.19 billion as demand for AI-related chips strengthened and domestic substitution gathered pace. AI and Trade: Chinese AI shares slid as US lawmakers pressed for tighter Nvidia chip curbs; Hong Kong-listed Z.AI and MiniMax fell 10% and 8.2% on Friday. Beijing urged Belgium and Luxembourg to help resolve China-EU trade differences through consultations. Consumer Spending: Double 11 sales rose 4.8% to $266 billion, with services, hobbies and pet products among the stronger categories, even as reports point to consumers cutting back. Finance: China’s yuan loans increased by 11.42 trillion yuan in the first 10 months, while social financing grew by 28.6 trillion yuan. Global Expansion: JD.com completed its takeover of German retailer Ceconomy, which operates MediaMarkt and Saturn, aiming to connect its European stores with its online business. APEC: Shenzhen hosts regional leaders next week, with digital trade and AI cooperation among the agenda items as China promotes a new phase of opening-up.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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