China's 'impossible to ignore' tech rise on display at Web Summit in Lisbon
One of Europe's biggest annual tech events, the Web Summit, kicked off in the Portuguese capital this week with the biggest ever delegation of Chinese business leaders and policymakers. FRANCE 24's Charles Pellegrin talks to Dr. Dan Wang, China Director at Eurasia Group, about EU-China tech relations, the climate of suspicion created by the spying scandal at Nvidia, and what the EU's quest for…
The Web Summit began this week in Lisbon with the largest delegation of Chinese policymakers and business leaders to date, according to France 24 Business. The event coincides with discussions regarding EU-China technology relations and suspicions stemming from a spying scandal involving Nvidia.
In Asian markets on Tuesday, Chinese and Hong Kong stocks rose, driven by AI supply chain shares and a rally on Wall Street. The Shanghai Composite Index and the blue-chip CSI300 Index both saw 0.1% increases by the lunch break, while the Hang Seng index rose 0.2%. Within China, the 5G Communication Index led onshore gains with a 2.7% rise, and the tech-focused STAR50 Index increased by 1%.
Business Recorder reports that China’s trade surplus exceeded $1 trillion in the first 10 months, as global demand for AI infrastructure boosted high-tech product sales despite weak domestic demand. This trend is expected to potentially increase tensions with major trading partners. Additionally, Wuxi AppTec shares saw gains of up to 5% after the Pentagon removed the biotechnology firm from its list of Chinese military companies.
Brief written by urgent.news from France 24 Business, Business Recorder — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Tech lifts China, HK shares amid risk-on mood brecorder.com
