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Daily Wrap: Baidu To Invest in 10 AI Startups, RYB Stock Halved, Railway 5-Year Plan
Baidu [BIDU:US] plans to invest in over ten AI startups and select 60 into its accelerator programs in 2018 to boost its AI ecosystem, according to Cnstock.com. Baidu’s AI platform, featuring facial recognition and other functionalities, has opened 80 capabilities to third party users, and has connected to over 370,000 developers. The firm predicts to partner with over 500 parties next year to ramp up it AI empire. In another note, dragged down by severe child abuse & sexual assault scandals, early education company RYB’s [RYB:US] stock has plunged roughly 48% in pre-market trading. The company released a statement earlier today that it is cooperating with police in its investigation has suspended involved teachers. SHCOMP inched up 0.06%, to 3353.82, SICOM decreased 0.06% to 11,168.39, and CSI 300 was up 0.04% at 4,104.20. The Hang Seng Index rose 0.53% today at 29,866.32.
CSRC Weekly: Serving Real Economy, Protecting Investor Interests
In response to media concerns over the strict newly-elected issuance examination committee, CSRC spokesman said the committee has been performing its duties as per laws and regulations over the past month. CSRC will execute on the guideline laid out in the 19th party congress and work towards serving the real economy, protecting investors’ lawful rights and building a healthy capital market. CSRC also disclosed punishments for an insider trading and swing trading case, and a malpractice case.
Baidu to Invest in 10 AI Startups in 2018
Baidu [BIDU:US] is planning to invest in at least 10 AI startups in 2018, aiming at boosting the company’s development in facial recognition technology, according to Finet.hk on November 24. In addition, Baidu is also planning to lower its facial recognition service fee for small- and medium-sized enterprises.
Suning, Asustek Ink RMB15bn Deal
Suning [002024:CH] has signed an RMB15bn purchase deal with Taiwanese computer manufacturer Asustek [2357:TT], according to TechNews on November 24. The deal enables the two parties to deepen collaborate in products development, E-sport industry, and consumer experiences enhancement in the next three years.
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