Huawei Pangu Model 3.0 will be released soon; OpenAI predicts that "ultra-intelligent AI will appear within ten years" Zero One Daily

Quick Facts

1. Beijing has increased support for financial technology institutions and subsidized up to 50 million yuan

2. China Mutual Finance Association: There are still seven problems in the loan assistance business

3. Chongqing Regulatory Solicits Opinions on the Protection of Consumer Rights and Interests of Small Loan Companies

4. Zhejiang: Promote the chain, scale and internationalization of the metaverse industry in an all-round way

5. The 2023 Global Top 1000 Banks list was released: 10 Chinese banks entered the world's top 20

6. The price war begins! The "wave of fee reduction" in bank wealth management is coming

7. Ali Daniel Zhang: The more people use AI models, the more ecological effects and cluster effects will occur

8. Huawei increased its capital to 40.6 billion

9. OpenAI predicts that "super-intelligent AI will appear within a decade"

10, Tesla CEO Musk: China will have strong artificial intelligence capabilities

Source | Zero One Finance

Author | Xu Haoyuan

【Policy News】

Beijing has increased support for fintech institutions, subsidizing up to 50 million yuan

On July 6, in order to support the construction of the country's first national financial technology demonstration zone, Beijing recently upgraded and issued the "Several Measures to Support the Construction of National Financial Technology Demonstration Zone". Including paid-in registered capital subsidies, rent subsidies for three consecutive years, listing capital support and other policies, the maximum subsidy for settled institutions will reach 50 million yuan.

The preparatory work for the establishment of Beijing Metaverse Industry Innovation Center was officially launched

On July 6, during the Internet 3.0 Summit Forum of the Global Digital Economy Conference this morning, the preparatory work for the establishment of the Beijing Metaverse Industry Innovation Center was officially launched. It is understood that the Beijing Metaverse Industry Innovation Center focuses on six major tasks such as technology, application, scenario, data, standard patents, and governance, and organizes rendering engines, digital humans, digital spaces, XR devices, AIGC and other related enterprises to create open and open source editing tools. Beijing Metaverse Industry Innovation Center has extensively cooperated with upstream and downstream enterprises in the industrial chain, and the first batch has gathered more than 40 domestic enterprises and institutions. In the next step, the Beijing Metaverse Industry Innovation Center will complete the registration of enterprise legal person as soon as possible.

Chongqing Regulatory Solicits Opinions on the Protection of Consumer Rights and Interests of Small Loan Companies

On July 5, the Chongqing Local Financial Supervision Bureau drafted the Guidelines for the Protection of Consumer Rights and Interests of Chongqing Microfinance Companies (Draft for Comments), which solicited public comments. The Draft further clarifies consumers' right to know, their right to make their own choice, and their right to fair trade. In the process of consumption, microfinance companies are strictly prohibited from handling business on behalf of consumers without authorization; Forcing or covertly compelling consumers to accept products or services; Require consumers to accept products or services not explicitly required in the contract by attaching restrictive conditions, and force the tie-in sale of other products or services; Exclude or restrict consumers from accepting products or services provided by industry organizations. (Upstream News)

Hunan was approved to build a new generation of national artificial intelligence public computing power open innovation platform

On July 6, the Ministry of Science and Technology recently approved to support the National Supercomputing Changsha Center of Hunan University to build a national new generation of artificial intelligence public computing power open innovation platform (preparation), which is the first national new generation of artificial intelligence public computing power open innovation platform approved in Hunan Province. The platform will focus on building an artificial intelligence computing power network and computing power resource sharing platform, an artificial intelligence software resource supply and demand docking and task scheduling platform, an artificial intelligence public resource pricing, billing and settlement platform, and a standardized and modular data open sharing model for the construction of standards for subdivided fields, so as to create an innovative ecology for artificial intelligence applications. After the completion of the platform, it will focus on key directions such as intelligent equipment, smart factories, and intelligent networked vehicles, and play an important role in promoting the original innovation of artificial intelligence and the research and development of key core technologies, and cultivating and expanding intelligent industrial clusters. (CaiLian News)

Shandong: Continue to strengthen financial services for private small and micro enterprises

On July 6, recently, the Jinan Branch of the People's Bank of China, the Shandong Provincial Administration for Market Regulation, the Provincial Local Financial Supervision Bureau, the Shandong Banking and Insurance Regulatory Bureau and other 7 departments jointly issued the ""Work Together to Help Enterprises and Benefit Business" Financial Support for the Development of Private Small and Micro Enterprises and Individual Industrial and Commercial Enterprises Three-Year Improvement Action Plan", in accordance with the idea of stabilizing stock, expanding increment and optimizing structure, promote the incremental expansion of financing for private enterprises, small and micro enterprises, and individual industrial and commercial enterprises, improve quality and efficiency, focus on increasing the proportion of first loans and credit loans, and create characteristic work brands. Strive to increase the number of first-time lenders by 300,000 and inclusive small WeChat loans by 500 billion yuan within three years.

Zhejiang: Promote the chain, scale and internationalization of the metaverse industry in an all-round way

On July 6, Zhejiang held a provincial conference on the high-quality development of the platform economy and issued the Implementation Opinions on Promoting the High-quality Development of the Platform Economy. The opinions mentioned that innovation in future scenarios of the platform economy should be encouraged. Platform enterprises are encouraged to use innovative technologies such as blockchain, digital twin, and extended reality to create future-oriented diversified application scenarios. Accelerate the construction of new advantages in the future industry of the metaverse, support diversified entities to build a comprehensive test platform for the metaverse, strengthen the application of the metaverse in multiple scenarios, and comprehensively promote the chain, scale, and internationalization of the metaverse industry. (Released by Zhejiang)

The State Administration of Financial Supervision solicited opinions on the connection between the pilot of tax-deferred pension insurance and individual pensions

On July 6, the State Administration of Financial Supervision has recently solicited opinions in the industry on matters related to the connection between the pilot of individual tax deferred commercial endowment insurance and individual pensions, and plans to carry out the pilot of individual tax deferred commercial endowment insurance and the connection of individual pensions. According to the Draft for Comments, the pilot companies of tax-deferred endowment insurance shall adhere to the principles of legal compliance, proactiveness and convenient operation, do a good job in policy publicity, respect customer choices, optimize the handling process, safeguard the legitimate rights and interests of customers, orderly carry out the pilot business of tax-deferred endowment insurance and the individual pension system, and complete all work by the end of 2023 in principle. (SSE Report)

【Financial News】

2023 Global Top 1000 Banks List Released: 10 Chinese banks entered the Global Top 20

On July 6, the British "The Banker" magazine (The Banker) released the World Bank Top 1000 list. The list shows that 140 banks in China have made the list for the second year in a row. Among them, 10 banks, including Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, Bank of Communications, China Merchants Bank, Postal Savings Bank of China, Industrial Bank, Shanghai Pudong Development Bank and China CITIC Bank, entered the top 20 global banks. It is worth noting that ICBC topped the list for 11 consecutive years with a tier 1 capital of US$497.3 billion.

China Mutual Finance Association: There are still seven problems in the loan assistance business

On July 6, on June 26, the Internet Finance Association of China held a work exchange meeting on the healthy development of Internet loan business and the release of the "Research Report on the Development of China's Internet Loan Business" in Beijing. According to the analysis of the report, there are still seven problems in the current Internet loan business: first, the problem of excessive lending is more prominent; Second, the network marketing publicity is not standardized; Third, the protection of personal information needs to be further strengthened; Fourth, the policy requirements of payment and credit enhancement must be strengthened; Fifth, post-loan management needs to be further standardized and improved; Sixth, business standard rules need to be clarified; Seventh, it involves a wide range of areas and requires regulatory coordination. (Interface)

China Mutual Finance Association: Collection standards in the field of Internet finance are being developed

On July 6, the China Internet Finance Association recently held a working conference on "the development of national standards for collection and the construction of a working mechanism for joint response to black and gray industry intrusion" in Beijing. At the meeting, the Business Department of China Mutual Finance Association introduced the development of the national standard "Guidelines for Risk Control of Post-loan Collection of Internet Finance Personal Online Consumer Credit" and the drafting of the "Guidelines for Responding to Agency Rights Protection Activities Seriously Affecting the Normal Operation of Practitioners in the Field of Internet Finance", and introduced the overall ideas and overall plans for the implementation of standards, assessment and evaluation after the release of the next stage of collection standards, and the construction of the working mechanism for joint response to black and gray industry intrusion. The Mutual Finance Association said that the participants further adjusted and improved the scope of application of collection standards and collection work specifications from the perspective of credit card overdue debt collection business practice, and believed that the development of collection standards was timely and conducive to standardizing collection business. (CaiLian News)

The price war begins! The "wave of fee reduction" in bank wealth management is coming

On July 6, recently, a number of bank wealth management companies issued announcements related to preferential rates for wealth management products, involving application fees, management fees, sales service fees, etc. The management fee and sales service fee of some wealth management products are even reduced to 0. Industry insiders said that the reduction of bank wealth management product rates is mostly a phased preferential activity, mainly targeting newly issued products and company-specific products, as well as wealth management products that have underperformed expectations. For banks and wealth management companies, they should continue to improve their investment and research capabilities to better meet the needs of investors. (China Securities News)

Bank of Jiangsu was approved to increase its capital to 14.770 billion yuan

On the evening of July 5, Bank of Jiangsu (600919. SH) announced that it recently received the "Reply of the Jiangsu Banking and Insurance Regulatory Bureau on the Change of Registered Capital of Bank of Jiangsu", and the Jiangsu Banking and Insurance Regulatory Bureau agreed to change the bank's registered capital from about 11.544 billion yuan to about 14.770 billion yuan due to allotment of shares and convertible debt into shares.

【Science and Technology News】

Ali Daniel Zhang: The more people use AI models, the more ecological effects and cluster effects will occur

On July 6, at the provincial conference on the high-quality development of platform economy held in Zhejiang Province, Daniel Zhang, chairman and CEO of Alibaba Group and chairman and CEO of Alibaba Cloud Intelligent Group, said that since last year, the artificial intelligence model has accelerated to maturity, driving all walks of life from digitalization to intelligence. From the perspective of industry trends, the training and operation of large models require high-performance chips and high-quality computing power as support, and large models are grown on cloud computing platforms; From the perspective of industry ecology, platform enterprises develop general large models, and other technology companies develop exclusive large models on this basis to promote the productization of technology, which stimulates the innovation vitality of the entire digital economy, serves the needs of thousands of industries with the power of ecology, and produces the ecological effect and cluster effect of "the more people use the smarter, the more people use the cheaper". (Science and Technology Innovation Board Daily)

A number of SenseTime's AI models were unveiled at the World Artificial Intelligence Conference

On July 6, at the 6th World Artificial Intelligence Conference, SenseTime unveiled a number of artificial intelligence large model products. As a large language model against ChatGPT, "Discussion SenseChat" is a 100-billion-level parameter language model under SenseTime's "Daily New SenseNova" large model system, with leading comprehensive capabilities of semantic understanding, multi-round dialogue, knowledge mastery, and logical reasoning. It is reported that in the three authoritative big language model evaluation benchmark results in the world, SenseTime's "Discussion SenseChat 2.0" performance in the three test sets MMLU, AGIEval and C-Eval is ahead of ChatGPT.

The new generation of digital earth technology platform, Star Map Earth Intelligence Brain Engine, was released

On July 6, at the 2023 Second Digital Earth Ecology Summit held in Beijing, mainland researchers released a new generation of digital earth technology platform developed - Star Map Earth Intelligent Brain Engine. The system deeply integrates earth big data, analysis and interpretation algorithms and supercomputers, builds a calculable digital earth core engine, provides users with intelligent processing of earth data, intelligent perception of earth information, intelligent reconstruction of earth scenes through intensive "intelligent computing", and opens various computing capacity interfaces to Internet users, so as to quickly build cloud applications and provide high-quality spatiotemporal content services for earth science research, remote sensing industry applications, and public daily life.

Huawei: Pangu Grand Model 3.0 will be released soon

On July 6, at the 2023 World Artificial Intelligence Conference, Ken Hu, Huawei's rotating chairman, said that Huawei's layout in artificial intelligence has promoted artificial intelligence to go deeper and deeper: deep cultivation of computing power; From general large models to industry large models, serve thousands of industries. He finally announced that at the HUAWEI CLOUD Developer Conference on July 7, Pangu Model 3.0 will be released. (Sina Technology)

Huawei increased its capital to 40.6 billion

On July 6, the Tianyancha App showed that Huawei Technologies Co., Ltd. has recently undergone industrial and commercial changes, and the registered capital has increased from about 40.541 billion yuan to about 40.641 billion yuan. Founded in September 1987 with Zhao Minglu, Huawei Technologies Co., Ltd. is engaged in the development, production, sales, technical services, engineering installation, integrated circuit design, R&D, communication equipment leasing, and value-added telecommunications services of program-controlled switches, transmission equipment, and data communication equipment.

【International News】

OpenAI predicts that "superintelligent AI will emerge within a decade" and is studying using AI to supervise AI

On July 6, OpenAI plans to invest more resources and set up a new research team to study how to ensure the safety of AI for humans, and eventually realize the use of AI to supervise AI. OpenAI co-founder Ilya and AI alignment head Jane said in the official blog: "The immense power of superintelligence could lead to the loss of human power or even extinction. Currently, we don't have a solution to manipulate or control a possible super-intelligent AI and prevent it from turning into a rogue. The blog post predicts that superintelligent AI, that is, systems that are more intelligent than humans, may emerge in the next 10 years. Humans need more powerful technology than currently to control superintelligent AI. (Sina Technology)

New York City introduced new laws that began regulating the use of artificial intelligence in recruitment tools

New York City, July 6 -- A new law in New York City aimed at eliminating potential bias in hiring and promotion software went into effect on Wednesday, and it will be the first law in the United States to regulate the use of automation and artificial intelligence in hiring decisions. The law, called NYC 144, requires the use of certain types of software, including chatbot interview tools and resume scanners to find keyword matches, to assist employers in reviewing these tools annually for potential racial and gender bias before publishing the results on their websites. Under the new law, employers will audit any software that plays a significant role in their hiring and promotion decisions and publish so-called adverse impact ratios. If the employer does not comply, a fine of up to $1,500 per violation. (Wall Street Journal)

Tesla CEO Musk: China will have strong artificial intelligence capabilities

On July 6, Tesla CEO Elon Musk said at the 2023 World Artificial Intelligence Conference that once China decides to do something, it will definitely be able to do it well, and all industries are like this, including artificial intelligence, I believe that China will have strong artificial intelligence capabilities. (CaiLian News)

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