Recap | Shanghai court says crypto ownership legal, food-delivery drones in Hong Kong: 5 new tech stories
Explore China’s tech landscape, from crypto ownership to AI-driven stock investments, in our latest stories from the world of technological innovation
1. Shanghai court declares crypto ownership legal amid bitcoin surge, Beijing crackdown
The ruling offers clarity for Chinese cryptocurrency holders despite ongoing restrictions on commercial digital currency activities such as trading and mining. The court distinguished between personal holdings and banned business activities as bitcoin saw a record-breaking price surge above US$94,000.
2. Rokid unveils US$345 smart glasses using Alibaba AI to challenge Meta in augmented reality market explosion
The Chinese AR start-up is taking on Meta with its new smart glasses powered by Alibaba’s Tongyi Qianwen AI. Rokid Glasses aims to capture a slice of the burgeoning consumer market with its affordable, lightweight design and advanced generative AI capabilities.
3. Apple reveals 95% of US$519 billion China App Store revenue goes to Chinese developers and companies
Amid growing competition with Huawei and scrutiny over its commission fees, Apple made a rare disclosure of the revenue generated from its App Store in China. Chief executive Tim Cook said the company is proud to help invest in local businesses.
