China's central bank has flagged stablecoins as a specific concern in its latest push against virtual currencies, warning that the tokens fail to meet requirements for customer identification and anti-money-laundering controls and risk being used for fraud, money laundering, and unauthorized cross-border fund transfers. The People's Bank of China released a statement Saturday following a Friday meeting on virtual currency regulation, saying crypto speculation has recently increased due to various factors and now presents new challenges for risk control. Virtual currencies do not hold the same legal status as fiat currency and cannot be used as legal tender, the bank said, adding that all virtual currency-related business activities are "illegal financial activities." China banned cryptocurrency trading in 2021. The bank said it will intensify efforts to combat illegal financial activities to maintain economic and financial stability. In October, PBOC Governor Pan Gongsheng said the central bank would closely track and evaluate the development of overseas stablecoins.

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The bitter standoff between Dutch chipmaker Nexperia -- which supplies basic chips crucial to 49% of European automakers, over 85% of medical device companies, and the entire defense industry -- and its Chinese parent company Wingtech escalated on Friday when both Wingtech and Nexperia's Chinese unit accused the Dutch business of secretly building a supply chain that would cut China out entirely. The accusations came one day after Nexperia's Dutch headquarters published an open letter claiming it had repeatedly tried and failed to contact its Chinese unit. Nexperia China demanded the Dutch side halt its overseas expansion plans, specifically a $300 million investment in a Malaysian plant, and alleged an internal company target to source 90% of production outside China by mid-2026. The Chinese unit also accused its European counterparts of deleting employee email accounts and cutting off access to IT systems. The dispute traces back to September when the Dutch government invoked a Cold War-era law to seize control of Nexperia on economic security grounds. An Amsterdam court subsequently stripped Wingtech of its ownership rights. Beijing retaliated by halting exports of finished Nexperia chips on October 4, triggering warnings of production shutdowns from automakers including Nissan and Bosch. Export curbs were relaxed in early November, and the Dutch government suspended its intervention last week following talks, but the court ruling remains in force. Wingtech warned that supply disruptions could return if the control issue remains unresolved.

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China installed 295,000 industrial robots last year -- nearly nine times as many as the United States and more than the rest of the world combined -- as the country races to automate its manufacturing base amid rising labor costs at home and tariff threats from abroad. The nation's stock of operational robots surpassed 2 million in 2024, according to the International Federation of Robotics. Of 131 factories globally recognized by the World Economic Forum for boosting productivity through cutting-edge technologies like AI, 45 are in mainland China compared to three in the US. At Midea's washing machine factory in Jingzhou, an AI "factory brain" manages 14 virtual agents that coordinate robots and machines on the floor. The home-appliance giant reports that its revenue per employee grew nearly 40% between 2015 and 2024, and processes that once took 15 minutes now take 30 seconds. Down jacket maker Bosideng has cut sample production time from 100 days to 27 days using AI design tools, reducing development costs by 60%. At the port of Tianjin, scheduling that previously required 24 hours now takes 10 minutes, and 88% of large container equipment is automated. The port's operator says it requires 60% fewer workers than traditional facilities.

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