Social media exploded in a celebration after the news that a Chinese start-up had made an artificial intelligence tool that was more efficient than any in the United States.

Chinese startup DeepSeek has shaken financial markets by presenting a new artificial intelligence (AI) model. The company from China unexpectedly caused a drop in stocks of Silicon Valley tech companies on Wall Street.

U.S. companies were spooked when the Chinese startup released models said to match or outperform leading American ones at a fraction of the cost.

Last March, Chinese Premier Li Qiang opened the legislature’s annual meeting by setting an economic growth target for 2024 of “ around 5 percent .” This was considered ambitious, given the economic headwinds: a property market slump that has crimped people’s savings, high youth unemployment, factory overcapacity and sluggish retail spending.

BEIJING -- Premier Li Qiang on Sunday held a symposium at the Great Hall of the People with representatives of foreign experts who have won the 2024 Chinese Government Friendship Award and those who are working in China.

Chinese Premier Li Qiang also a member of the Standing Committee of the Political Bureau of the Communist Party of

DeepSeek is a cheaply built artificial intelligence language model which outperforms American versions in some measures

The founder of artificial intelligence (AI) firm DeepSeek, touted as 2025's "biggest dark horse" in the open-source large language model (LLM) arena, emerged as the industry's new face in China at a symposium hosted by Premier Li Qiang in Beijing on Monday.

Peter Dutton has claimed Australia’s relationship with China will be “much stronger” should the opposition win the next election, despite the many trade sanctions enforced by Beijing during the Morrison government in response to the Coalition’s hawkish language against its biggest trading partner.

China's fiscal revenue in 2024 rose 1.3% year on year, narrowing from 6.4% expansion in 2023, finance ministry data showed on Friday, as a property market slump and slowing domestic demands weighed on the economy.

DeepSeek threatens to disrupt the AI sector in a similar way to how Chinese companies have already upended industries such as EVs and mining.

According to the analysis firm Graphika, Chinese social media accounts linked to the government in Beijing supported the launch of DeepSeek's chatbot, as reported by Reuters on Friday. Among these accounts were profiles belonging to diplomats,