The Latest Breaking News from China

Alibaba Group Holding Ltd. (NYSE:BABA) is reportedly working on a new artificial intelligence chip aimed at reducing China's reliance on U.S. semiconductor giant Nvidia Corp. (NASDAQ:NVDA), but prominent investor Ross Gerber dismissed the move as "laughable."

The decision leaves the tariffs Trump slapped on almost all US trading partners in place for now until October, including the levies he imposed before that on China, Mexico, and Canada.

Tesla Inc (NASDAQ:TSLA) is struggling with sales demand in several territories around the world, including China. A new report suggests that Tesla's declines in China may have arrived at a particularly inopportune time.

Chinese President Xi Jinping will host leaders from around 20 countries at the Shanghai Cooperation Organisation's security summit in Tianjin.

The tariff wars between the US and its trade partners have rarely been out of the news since the US president, Donald Trump, revealed his plans for sweeping “liberation day” levies back in April. The uncertainty that followed for businesses worldwide has now morphed into a battle over global supply…

Alibaba Group Holding Ltd (NYSE:BABA) (NYSE:BABAF) has just raised the stakes in the U.S.–China tech rivalry. The Chinese e-commerce and cloud giant has unveiled a new AI chip designed to reduce reliance on Nvidia, Washington's favorite export-turned-bargaining chip.

The U.S. government has revoked export waivers that allowed Intel, Samsung, and SK hynix to ship advanced chipmaking tools to their Chinese facilities, forcing them to seek licenses within 120 days or risk operational disruption.

Plus, robotaxis are leading to lower average pay for human drivers and BYD’s profit sank sharply in the second quarter due to China’s brutal price war.

Banned from selling H20 chips to China, Nvidia could have to scale down its Blackwell chips by 30-50% to restart sales.