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Davos Forum Alibaba sets up Belt and Road debt risks well in hand new chip
make sure it can be a mutual ment zones have been built. own, old debt problems, and cial aid, but looks to get reason BRI offers mutual learning experience and The initiative has created should not be associated with able returns, according to Li. subsidiary benefits, says mutually beneficial,” He more than 240,000 local jobs, the BRI. He said there should be a Lifeng, head of the National according to He. “China has been consolidat sustainable financing By HE WEI in Hangzhou head of NDRC Development and Reform As the BRI continues to ing debt management and has scheme. The interests of [email protected] Commission, said during the expand in scope, so do con been very careful about con destination nations should By WANG YANFEI in Tianjin annual World Economic cerns over financial challen ducting thorough analysis of be tied with the interests of Alibaba Group Holding [email protected] Forum in Tianjin on ges, as China has issued every infrastructure project the payers. Otherwise, some Ltd announced on Wednes Wednesday. infrastructural loans to some that involves loans from Chi may lack motives to repay day the establishment of a China will manage well the Since the initiative was poor developing countries He Lifeng, head of the National na,” he said. debt, heightening debt dedicated chip subsidiary financial risks in projects launched in late 2013, China that are heavily in debt, creat Development and Reform “The Belt and Road Initia risks. that aims to create custom related to the Belt and Road has signed 150 cooperation ing potential for debtsustain Commission tive is not a Chinese Mar While government funds ized artificial intelligence Initiative as the initiative is documents with 106 countries ability problems for these shall Plan,” said Hong Kong are capable of playing a key chips and embedded proc designed to benefit all par and 29 international organiza nations. its debt jumped from 50 per Exchanges and Clearing role at the beginning to pro essors to further support ties involved, according to tions. For instance, the Interna cent of GDP in 2014 to 85 per Chief Executive Charles Li mote the initiative, more sus the tech giant’s sprawling officials and financial More than $86 billion has tional Monetary Fund has cent in 2016. Xiaojia. tainable finance and private cloud and internet of experts. been invested in parties warned that Djibouti, a nation Ning Jizhe, vicechairman That means the initiative investment are needed to sup things businesses. “The fundamentals to pro involved in the BRI, and 82 involved in the initiative, faces of the NDRC, said some coun does not offer a free lunch — port the development of the The company plans to mote the initiative are to economic and trade develop a high risk of debt distress as tries’ debt problems were their money poured in is not finan BRI, he added. launch its first indigenous AI interference chip — AliNPU — in the second half of 2019, Chief Technol ogy Officer Zhang Jianfeng Electric vehicles told its annual cloud com puting conference in Hangzhou. on the fast track Zhang said the company has embarked on develop ing its own quantum proc By ZHONG NAN essors, and is looking to roll and HU YUMENG in Tianjin out genuine quantum chips in two to three years. The market share of electric “We are confident that automobiles is expected to our advantages in algo reach 30 percent of China’s rithm, data intelligence, total vehicle sales by 2030, computing power and thanks to fast growth momen domain knowledge on the tum due to technological back of Alibaba’s diverse breakthroughs in fuel cells, ecosystem will put us in a the carsharing economy and Wan Gang, chairman of the unique position to lead real the younger generation’s China Association for Science technological break green lifestyle, industry offi and Technology throughs in disruptive are cials said on Wednesday. as, such as quantum and Wan Gang, chairman of the tricity by the end of this year chip technology,” he said. China Association for Science and transfer all its taxis to elec The newlyformed entity and Technology, said as the tric power by 2020. is the merger of the chip mileage of electric vehicles in Wan stressed that digital team of DAMO Academy, China is still relatively limited, and automatic driving tech Alibaba’s inhouse technolo the country will deploy more nologies, emerging business gy and science research resources in the research and es including carsharing and arm, and microchip maker development of fuel cells to the growing efficiency of pri CSKY Microsystems Co Ltd A participant at the Annual Meeting of the New Champions 2018, or Summer Davos Forum in Tianjin, takes a snapshot of AI robots on improve the endurance capac vate car use would continue which it acquired in April. display at the event. ZOU HONG / CHINA DAILY ity of batteries. to improve the popularity of “We will also strengthen the electric vehicles and facili safety and innovation capacity tate their sales across the of charging technologies in country. AI to cause big shifts in employment infrastructure construction, Francois Provost, chairman as well as seek adequate meas for AsiaPacific region of Ren The future of the ures to optimize subsidy poli ault Group, said promoting real economy By FAN FEIFEI in Tianjin creation of 38 percent, giving acquisition, risk manage cies to encourage more electric vehicles in public [email protected] an estimated net gain of 12 ment, fund matching, after consumers to purchase elec transport sector and the car holds the key to percent. debt management and tric vehicles to cut the environ sharing economy can let peo Artificial intelligence will Moreover, services and customer service. mental impact caused by ple know the benefits of using the integration of give a net boost to employ construction could see the We can expect Last year, the State Council gasoline,” said Wan, who also environmentfriendly trans ment in China, free humans largest net increases in issued a plan that set bench is China’s former science and portation products, and they manufacturing from some tedious tasks, and employment, with net gains advances in the marks for the nation’s AI sec technology minister. are also cheaper to drive for bring about significant of 29 percent and 23 percent, tor, with the value of core AI Many Chinese cities such as private users. and services.” changes in traditional sec respectively, by 2037 in Chi healthcare sector industries predicted to Taiyuan, Shenyang and Shiji The government should tors such as finance, health na, offset by estimated net exceed 1 trillion yuan ($146 azhuang have encouraged also step up the transforma Xu Qiyuan, from the Chinese care, transportation and job losses of around 10 per thanks to AI.” billion) by 2030. clean energypowered trans tion of the country’s diesel Academy of Social Sciences education, according to cent in the agricultural sec Zhou Kui, a partner at port as part of the nation’s powered trucks in the logistics industry insiders and busi tor. Zhou Kui, a partner at Sequoia Sequoia Capital China, said efforts to protect the environ and mining industries as they The new company, which ness leaders. “Although the longterm Capital China machines can accumulate, ment. generate a large amount of is likely to have 200 to 300 AI and related technolo net effect of AI on jobs will be store and learn knowledge at Guangzhou, capital of carbon emissions, said Luo researchers, aims to oper gies, such as robots, drones positive for China, the transi healthcare, transportation a greater speed than humans, Guangdong province, plans to Xin, CEO of GCL System Inte ate independently in the and autonomous vehicles, tion to an AIenabled econo and education. “The work of as well as improve the accura more than triple the number gration Technology Co, a long run and become self could create around 90 mil my could see considerable antifraud and auditing can cy of diagnosis and treatment of fullelectric buses on its Jiangsubased energy compa sufficient following an ini lion additional jobs over the disruption to current labor be done well by AI, which is and make it easier to train roads to 10,000 this year. A ny specializing in clean and tial financial injection from next two decades, according markets, as millions of work more efficient than manual doctors. “We can expect work plan issued by the pro sustainable power produc Alibaba. to a report released by ers need to switch careers operation. I believe that in the advances in the healthcare vincial government in 2017 tion. The AliNPU chip has accounting firm Pricewater and possibly locations. More future, AI will be applied in sector thanks to AI.” required that all of “China also needs to accu potential for use in autono houseCoopers during the efforts are needed to increase more industries,” Xiao Wen Moreover, education is Guangzhou’s buses should be mulate more technologies and mous driving, smart cities Annual Meeting of the New the retraining and support jie, founder and CEO of Lexin another important applica electric by 2020. The city cur practical solutions to produce and smart logistics. The Champions 2018, or Summer for displaced workers,” said Fintech Holdings Ltd, a Chi tion scenario of AI as rently has more than 14,000 batteries for electric vehicles goal is to build a robust, Davos Forum in Tianjin. James Chang, China finan nese online consumer finance machines could undertake buses powered by both elec in a cheaper way and handle cloudbased IoT infrastruc Around 26 percent of exist cial services consulting lead platform, said at a subforum onetoone teaching and offer tricity and gasoline. old batteries in a sustainable ture, providing computa ing jobs in China could be er of PwC China. of the Summer Davos. personalized education in With more than 16,000 elec way,” he said. tional power for the automated over the next two AIenabled technologies Xiao said AI is used in the accordance with the charac tric buses on its roads, Shenz company’s data centers, as decades, but this is projected have been applied in several whole value chain of Lexin’s teristics of each student, Zhou hen has also set targets to Contact the writers at zhong well as advancing IoT busi to be more than offset by job sectors, such as finance, business, including customer added. upgrade its city buses to elec [email protected] nesses ranging from smart homes to smart logistics. Zhang added the compa “China is working hard to ny’s Hangzhoubased quan elevate its manufacturing capa tum hardware team is SAP sees huge potential in China market bilities to a new level of innova developing highprecision, tion and move up the value multiplequbit supercon By MA SI ods and factories with digital thirdparty technologies. momentum” in cloud services. I will not be chain. We see tons of opportu ducting quantum process [email protected] technologies,” McDermott said Daniel Zhang, CEO of Aliba Though China is among nities here,” said McDermott. ors. as a personal forecast. ba, said the availability of SAP’s top five markets, the com surprised if China SAP aims to work closely “The establishment of the China is highly likely to On Wednesday, the compa SAP’s cloud solution on Aliba pany has long regarded the with government and busi chip firm is a clear indica emerge as the largest market ny deepened its partnership ba Cloud is another milestone world’s largest manufacturing becomes our ness leaders to identify how tion that Alibaba is extend for German software company with Chinese internet heavy in its globalization strategy. powerhouse as its second home largest market by SAP’s technology, combined ing its innovation SAP SE, as local enterprises weight Alibaba Group Hold This came after SAP’s China and is constantly growing its with its global experience, can capabilities to the manufac embrace cuttingedge technol ing Ltd. The two sides will branch delivered tripledigit local presence by increasing 2025 ...” help accelerate China’s trans turing sector. The future of ogies such as cloud computing collaborate, coinnovate and growth in revenue in its cloud investment, McDermott said. formation to smarter, higher the real economy holds the to accelerate their digital trans jointly go to market to offer business and doubledigit So far, SAP has one of its big Bill McDermott, CEO of SAP quality and more innovative key to the integration of formation, its Chief Executive SAP S/4HANA Cloud, a digital expansion in software and relat gest laboratories in Shanghai manufacturing. manufacturing and servi Officer Bill McDermott said. cloud suite. Alibaba Cloud’s ed services in the second quarter. and six data centers across Charlie Dai, analyst at mar ces,” said Xu Qiyuan, direct “I will not be surprised if Chi customers will also be able to The German company has China, with thousands of nearly 14,000 enterprise cus ket research company Forrester or of the economic na becomes our largest market deploy the SAP Cloud Plat raised its targets for 2018, to employees and covering over 1 tomers in China, with both Research Inc, said AliCloud is development division of the by 2025, with local companies form to extend their current expect total revenues in a range million university students in gigantic Stateowned enter the biggest public service pro Institute of World Econom scrambling to upgrade their business solutions, build new of 24.9725.3 billion euros ($29.6 its innovation programs. prises and small andmedium vider in China. The renewed ics and Politics at Chinese corporate management meth applications and integrate billion), thanks to “strong More importantly, it has sized companies on board. ties will boost SAP’s presence. Academy of Social Sciences.