HOT TOPICS
Global oil prices jump on new Russia sanctions
International crude oil futures surged on Oct. 23, with both WTI and Brent crude climbing over 5%. The spike followed an announcement by U.S. Secretary of the Treasury Scott Bessent that the U.S. would sanction Russia’s two largest oil companies. On the same day, the European Union formally approved its 19th round of sanctions against Russia.
China and U.S. to hold high-level trade talks in Malaysia
A high-level Chinese delegation led by Vice Premier He Lifeng will travel to Malaysia for a new round of economic and trade talks with the U.S. from Oct. 24 to 27, China’s Ministry of Commerce has announced.
Communist Party outlines economic goals
The Communist Party’s Central Committee has released a communiqué, setting out major economic and social development goals for the 15th Five-Year Plan period. Key targets include achieving significant progress in high-quality development, substantially increasing technological self-reliance, and making new breakthroughs in reform. The long-term vision aims for China to largely achieve socialist modernization by 2035, with its economic, technological, and national strengths greatly enhanced, and its per capita GDP reaching the level of a moderately developed country.
Peking University team develops advanced analog computing chip
A research team at Peking University has developed a new type of analog computing chip that boosts computing precision to 24 bits for the first time. The chip is designed to compute more intuitively, similar to the human brain, which significantly improves efficiency and reduces energy consumption, opening new possibilities for applications like artificial intelligence (AI).
Official highlights China’s dominance in global battery market
Chinese companies account for six of the world’s top 10 battery manufacturers, representing 69% of total global shipments, according to Liu Xinyan, head of the Communist Party committee at an industrial development center under the Ministry of Industry and Information Technology. Liu called for strengthening technological innovation with a systematic layout for the research and development of next-generation batteries, including new material systems, all-solid-state batteries and metal-air batteries.
NEWS SUMMARY
A draft amendment to the Cybersecurity Law, which is set for a second review, includes provisions to promote the security and development of AI.
Alibaba will begin presales for its Quark AI glasses as part of a push to commercialize AI applications.
