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This is a discussion on China Tech News within the Electronics forums, part of the Non-Related Discussion category; FACEBOOK and Xiaomi will release a virtual reality headset in the Chinese mainland market even though the US-based social giant’s ...

          
   
  1. #651
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    VR device for Xiaomi, Facebook

    FACEBOOK and Xiaomi will release a virtual reality headset in the Chinese mainland market even though the US-based social giant’s service is not accessible here.

    The VR device, Mi VR standalone, will be the first Facebook device officially sold in the mainland market which has the world’s biggest number of Internet users. The device will feature both Xiaomi and Facebook’s Oculus logos in China. It’s the Chinese version of Facebook’s Oculus Go, which costs US$199 in the US market.

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    Sony’s ‘aibo’ robot boasts AI, Internet

    AS Japan readies to celebrate the year of the dog, electronics giant Sony yesterday unleashed its new robot canine companion, packed with artificial intelligence and Internet connectivity.

    The sleek ivory-white puppy-sized “aibo” robot shook its head and wagged its tail as if waking from a nap when it was taken out of a cocoon-shaped case at a “birthday ceremony” held in Tokyo.
    Seven-year-old Naohiro Sugimoto from Tokyo was among the first to get his hands on the shiny new toy, which he described as “heavy but cute.”

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    China FTZs ease rules for foreign firms

    A Sino-British joint venture will soon begin outbound tourism business for Chinese tourists in the Shanghai free trade zone.

    Registered in the FTZ in 2015 by Thomas Cook Group and Shanghai’s Fosun International, Fosun Tourism and Culture Group is one of the beneficiaries of fine-tuning to some laws and regulations in China’s FTZs to further opening-up and reform.
    Eleven regulations including those on ship registration, urban rail transit and foreign investment are to be temporarily adjusted, according to a State Council decision.

    One regulation specifically deals with foreign investment in tourism. Joint ventures registered in the zones are now allowed directly into outbound tourism for Chinese residents. Previous regulations meant joint ventures had to work with local travel agencies on outbound tourism, but could apply for their own license after two years.

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    Germany adds yuan to reserves

    GERMANY’S central bank has said it will include the Chinese yuan in its reserves, giving another boost to China’s drive to internationalize the currency.

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    The Bundesbank said its board had decided in July to invest in the yuan to take account of its growing importance globally, though it did not say when it would begin to include it or how much it would purchase.

    “The decision to accept the yuan is part of a long-term diversification strategy and reflects the growing role of the Chinese currency in the world financial system,” Bundesbank board member Joachim Wuermeling said.
    The German central bank regularly reviews the composition of its currency reserves “by weighing risks and benefits,” Wuermeling said.

    “In addition to dollars and yen, (the bank) has invested in Australian dollars since 2013 and seeks to invest in other currencies.”

    The move comes after the European Central Bank in June converted 500 million euros’ worth of its US dollar reserves into yuan.

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    Shanghai shares hit 2-year high, HK at new record

    SHANGHAI shares rose to a two-year high yesterday when Hong Kong stocks climbed to a fresh record as investors tracked another milestone on Wall Street, but Asia-wide markets struggled to keep up the recent momentum.

    But while the afternoon saw a slight wobble across the region and some analysts warned of a possible correction, traders remain bullish on equities thanks to a healthy global economic outlook, optimism over the impact of Donald trump’s tax cuts and strong corporate earnings.

    The Shanghai Composite Index gained 0.87 percent to 3,474.75 points, the highest close since the end of 2015.
    After the market closed, data showed the Chinese economy grew a forecast-beating 6.9 percent in 2017, the first annual improvement since 2010.

    The GDP reading follows strong trade data last week, which showed the humming global economy had propelled China’s export machine.
    “This momentum, especially the part fueled by external demand, may carry on well into 2018,” said Wei Yao, chief China economist at Societe Generale.

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