Central bank assesses AI’s economic impact
The People’s Bank of China analyzed the macroeconomic impact of artificial intelligence (AI) in its latest monetary policy execution report, noting that the technology will continue to support high-quality economic growth. The central bank highlighted continued advances in key AI technologies such as multimodal capabilities and logical reasoning, deeper adoption of AI across industries that is reshaping traditional sectors, and the accelerated expansion of Chinese AI companies into emerging markets including Southeast Asia and the Middle East.
NEWS SUMMARY
Kuaishou Technology plans to spin off its AI business Kling AI and raise $2 billion in a funding round backed by Tencent.
Tencent has invested $2.5 billion in Chinese AI startup StepFun.
China’s new-energy vehicle production rose 5.5% year-on-year to 1.32 million units in April, while sales grew 9.7% to 1.34 million units.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
