|China is now looking for other countries to cooperate as they are determined to develop Big Data, AI, and IoT despite tensions with the United States / Photo by: Hobbyfoto via PIxabay|
Regardless of what the US has thrown at them, China seems determined to weather the storm, launching a big China International Big Data Industry Expo just last Saturday with the aim of attracting other countries to collaborate with them on the goal of developing the internet, big data, and artificial intelligence.
According to a report by Bloomberg, China’s biggest tech companies were in attendance, naturally, but so were other tech companies from Japan and Malaysia. According to Xinhua, China has always looked at technology as a way to improve their country, with President Xi Jinping himself urging Chinese companies to be the leaders of innovation in the world of tech.
This definitely fits that bill, if anything, and China has announced that they are willing to pull in great influences from other countries and “explore a growth path with other nations for new technologies.”
Additionally, China aims to discuss matters like data security, digital economy, and technological innovation, esteeming these topics crucial to both the country’s tech industry growth, and their strength in taking on challenges presented by the continually tension-filled trade war.
Continuing through to Wednesday, this gathering of China’s tech heavyweights like Tencent Holdings, Huawei Technologies Co., and Alibaba Group Holdings, and even Google’s China arm will be instrumental in trying to turn around the challenge that the Huawei ban of the United States affected on their country.
As far as global numbers are concerned, semiconductor and chip suppliers have experienced a downtick since the trade tensions, and last month’s data, as analyzed by Raymond James, is sure to push Chinese chip companies into tighter corners, forcing them to change their estimates.
Robert Schiffman, a Bloomberg Intelligence analyst, even says, “Negative total month-to-date returns for the investment-grade technology sector have been primarily driven by a semiconductor selloff, a trend unlikely to reverse until trade uncertainties dissipate.”