Weekly snapshot of China's local business news

0 Comment(s)Print E-mail Xinhua, September 21, 2019
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BEIJING, Sept. 21 (Xinhua) -- The following are highlights of China's key local business news from the past week.


Huawei launched Atlas 900, a super fast AI training cluster, at its annual Huawei Connect conference in Shanghai.

Hu Houkun, deputy chairman of the Chinese tech giant, said Atlas 900 is the "world's fastest AI training cluster," which combines the power of thousands of Ascend processors, and can handle models in seconds that used to take several months to train.

The cluster finished the entire training of the ResNet-50 model, an industry standard for measuring AI training performance, in 59.8 seconds, about 10 seconds faster than the previous world record, Hu said.


China's leading lithium battery producer, Contemporary Amperex Technology Co., Ltd. (CATL), has entered into a global battery supply agreement with Daimler Trucks & Buses.

Under the agreement, CATL will supply battery modules for a wide range of Daimler Trucks & Buses' global electric truck portfolio from 2021 onward, including Mercedes-Benz eActros, Freightliner eCascadia and Freightliner eM2.


Shanghai issued Intelligent Connected Vehicle (ICV) application demonstration licenses to three companies including SAIC Motor Corp., allowing the commercial operation of ICVs in the city.

Shanghai became the first Chinese city to issue such licenses, which allow authorized enterprises to carry out ICV demonstration applications in urban roads and expand the marketization and commercialization of ICVs.


The new Lingang area of the China (Shanghai) Pilot Free Trade Zone (FTZ) launched 11 new policies to provide greater convenience for foreign talent in high-tech innovational industries.

The new policies provide greater support for the introduction of foreign sci-tech talent and foreign research and innovation team members, easing the restrictions on their age, education background and work experience and granting them work permits of more than two years at a time.


State-owned Baowu Steel Group, China's largest steel producer, inked an agreement with Magang (Group) Holding Co., Ltd. to secure a 51-percent stake in the latter.

The merger is a big step in China's ongoing consolidation of its steel industry and will help build a world-class steel mill with global competitiveness, according to the company.


SF Airlines, the aviation branch of China's express giant SF Express, launched a new direct all-cargo flight service linking Wuxi in east China's Jiangsu Province with Frankfurt.

The new cargo route, operated by B747-400ERF cargo freighters, is the company's first intercontinental route with a flight distance of 9,540 km. Enditem

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