Shanghai Municipal Commission of Commerce and six other departments issued a plan to build a national service‑trade innovation demonstration zone. The plan aims to attract AI R&D centers, open‑source platforms and joint labs. It calls for expanding cross‑border invocation of computing power and base large models and explicitly supports export of model products, including intelligent agents and multimodal generation systems. The plan encourages embodied‑intelligence and smart‑terminal firms to ro

2026-08-10

Shanghai Municipal Commission of Commerce and six other departments issued a plan to build a national service‑trade innovation demonstration zone. The plan aims to attract AI R&D centers, open‑source platforms and joint labs. It calls for expanding cross‑border invocation of computing power and base large models and explicitly supports export of model products, including intelligent agents and multimodal generation systems. The plan encourages embodied‑intelligence and smart‑terminal firms to roll out full‑lifecycle service models and promotes AI adoption in healthcare, education and professional services. It also backs hosting the World Artificial Intelligence Conference and global developer events, accelerating a World AI Cooperation Organization headquarters, designating Pudong as an AI innovation application pilot zone, and supporting Xuhui district’s “Mosu Space” large‑model innovation community. The plan includes exploring a global AI governance framework.

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2026-08-10

China Reform Holdings and China International Capital Co signed a strategic cooperation agreement in Beijing on Aug. 6. China Reform party secretary and chairman Xu Siwei said the groups, citing complementary resources, hope to leverage their platforms and expertise to deepen cooperation on fund and equity investment, direct investment, asset management and healthcare financing. China International Capital Co party secretary and chairman Chen Liang said the firms aim to strengthen strategic coor

2026-08-10

Early trading saw multiple previously high‑premium LOFs sell off. Global Chip LOF hit the down‑limit while its secondary‑market premium remained near 18%; SDIC Silver LOF fell over 8% intraday and its premium also breached ~18%. The moves followed a joint Shanghai and Shenzhen exchanges consultation draft issued last weekend that sets out two mandatory delisting scenarios for LOFs, explicitly targeting persistent high‑premium speculation, mini‑fund liquidity failures and price manipulation. A Sh