Industrial internet goals
Eight government departments, including the Ministry of Industry and Information Technology, issued a document to promote the development of the industrial internet. The guidelines set a target for 2030 to build 50,000 industrial 5G private networks and push the value-added output of core industries past 2.5 trillion yuan. The document also emphasized deepening the integrated application of AI and the industrial internet.
Chinese market outlook
Standard Chartered released its global market outlook for the second half of the year. For the Chinese market, the bank recommended an overweight position in the technology and communication services sectors, which are expected to benefit from an increased self-sufficiency rate in domestic chips and ongoing AI commercialization. It downgraded the healthcare sector to neutral and consumer staples to underweight.
Apple supplier hacked
A ransomware group stole a large amount of data from Tata Electronics, Apple’s main supplier in India, and posted some of the files on the dark web, according to media reports. The leaked data include highly sensitive information such as component details for Apple products, supplier lists and internal photos of the upcoming iPhone 18 Pro model. Apple has launched an investigation into the incident.
NEWS SUMMARY
The valuation of Chinese AI startup Kimi has surged to $31.5 billion.
Nvidia’s robotics team opened recruitment for four core areas, with positions available in Beijing, Shanghai and Shenzhen.
South Korea is considering accelerating the construction of nuclear power plants to provide electricity for its planned semiconductor industry cluster.
The Japanese yen fell to a 40-year low against the U.S. dollar, heightening market expectations of government intervention.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
