- South China Morning Post
Nobel laureate Paul Romer sees diminishing returns for AI, as FDI still 'killer app' for emerging economies
The artificial intelligence (AI) industry is "going through a kind of a bubble right now" and could soon hit a ceiling when it comes to productivity gains, according to Nobel laureate and former chief economist at the World Bank Paul Romer. "The growth of digital technology hasn't in the past ushered us into this new era of much more rapid productivity growth, and I doubt that it's going to do it now," Romer told the South China Morning Post on the sidelines of the UBS Asian Investment Conferenc
- South China Morning Post
Electric vehicles: China's GAC Aion shifts up a gear in Hong Kong with ambitious sales target, new models in pipeline
Chinese state-owned carmaker Guangzhou Automobile Group (GAC) said it plans to intensify its push into Hong Kong's electric vehicle market by setting itself an ambitious target of 4,000 sales in the city by the end of this year. GAC Aion, the electric vehicle (EV) unit of GAC, the Chinese partner of Toyota and Honda, aims to meet this target by introducing more new-energy car models to the city's drivers later in the year, according to Coleman Cheung, general manager of Harmony Motor Aion in Hon
- South China Morning Post
Alibaba e-commerce unit's latest executive reshuffle sees veterans retire as younger leaders take over
A number of high-ranking executives at Taobao and Tmall Group have retired, paving the way for a younger generation of leaders to take the reins of Alibaba Group Holding's core e-commerce unit, as competition heats up with rivals such as PDD Holdings' Pinduoduo and ByteDance-owned Douyin. Senior executives that include Wang Hai, Liu Peng, Yu Feng and Wang Mingqiang retired from Taobao and Tmall Group on May 1, according to Chinese media reports on Wednesday. Their exit comes several months after
