China is preparing to launch compute futures in Shanghai, signalling a push to link financial markets to computing power as the global AI boom drives new demand for digital infrastructure. The Shanghai municipal government has released guidelines stating the new financial derivative would form part of efforts to turn the city into a global wealth management hub. It is the first time Shanghai’s authorities have explicitly mentioned compute futures in an official document. “In light of the central...
A flat-owning Shanghai grandpa who lives in a supermarket to avoid loneliness gave his home to a nanny he met at the shop in the face of his son’s disapproval. Qiangming, 78, has been living in the staff entrance of the supermarket in Shanghai for nearly a decade. He sleeps on a mat, rests in the supermarket’s dining area during the day and carries 50,000 yuan (US$7,400) cash in his pocket, plus a DV recorder. He describes himself as a drifter, not a beggar. The 20sqm flat he owns nearby is...
China’s international arbitration efforts have made significant progress, but more work is needed to attract foreign parties to arbitrate in China amid US-China rivalry, according to arbitrators and law scholars. China’s newly revised Arbitration Law took effect in March, marking the most significant overhaul of the country’s commercial dispute framework since 1994, in a move to promote cities such as Beijing, Shanghai and Shenzhen to develop into international arbitration centres, competing...