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Bill Deng, Founder and CEO of XTransfer, will join the management team at showcases and closed-door sessions in both cities, sharing views on AI risk control and operations, local-currency settlement in emerging markets and practical inclusive finance for SMEs. During the events, XTransfer will hold signing ceremonies for strategic cooperation with several international financial institutions, further extending its global clearing network.

A central focus will be XTransfer’s financial institution partnership model, which enables banks and payment institutions to participate as both co-builders and users. Partners can contribute local collection, payout and FX capabilities, while accessing services such as Pay-to-China, Local-Currency Collection and Local-Currency Payout through the XTransfer API.

Another focus will be XTransfer’s end-to-end local-currency settlement. In emerging markets, restricted access to foreign exchange can delay the settlement of legitimate trade payments. To address this, XTransfer has built an end-to-end B2B trade settlement network comparable to Visa and Mastercard, directly connecting paying and receiving banks. Paired with its pioneering local collection account service, it enables end-to-end local-currency settlement, a 24/7, fast, low-cost, and compliant option that lets buyers and sellers worldwide pay and receive trade funds in their respective local currencies. The service now covers nearly 60 countries and regions across Africa, Asia, Latin America, the Middle East, Europe, and North America, etc.

Today, XTransfer serves more than one million SMEs globally, with over US$60 billion in total payment volume in 2025, and is trusted by more than 170 global financial partners. Through its participation in Hong Kong and Singapore, XTransfer aims to deepen collaboration across the financial ecosystem and make cross-border payments more secure, efficient and accessible for trade businesses worldwide.
Hashtag: #XTransfer #SFF #HKFW #HongKong #Singapore #Crossborder #Payment #SMEs #ASEAN

https://www.xtransfer.com
https://www.linkedin.com/company/xtransfer.cn

The issuer is solely responsible for the content of this announcement.

By K Raveendran The greatest mistake Narendra Modi and his Bharatiya Janata Party can make is to mistake the silence of the streets for the consent of the people. The government may have succeeded in shrinking the space for organised resistance, intimidating critics and making dissent increasingly costly. But political resentment does not disappear simply […]

The article Modi Govt’s Undeclared Emergency Will Have Its Inevitable Outcome appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Dr. Gyan Pathak Once upon a time people in India exercised their “right to protest” in front of the ruling establishment in New Delhi free of cost, though they still needed government permissions for assembly of people for protest. However, under PM Narendra Modi, it has been abolished altogether with denotification of designated protest […]

The article India’s National Capital Being Turned Into No Protest Zone appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Ashok Nilakantan Ayers NEW YORK: India’s digital media industry has taken an unusually significant step in challenging Prime Minister Narendra Modi’s government. Twenty-one major news publishers, including media organisations owned by Mukesh Ambani and Gautam Adani, have approached the Supreme Court, arguing that India’s digital privacy legislation could undermine investigative journalism, compromise confidential sources […]

The article Indian Digital Media Challenging Modi Govt’s Privacy Law In Supreme Court Is A Major Step appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The memorandums of understanding, signed in Tokyo on Wednesday during German Chancellor Friedrich Merz’s visit to Japan, cover superconducting materials and equipment for heating and fuelling plasma. Proxima will collaborate with Fujikura on high-temperature superconducting tape and with Kyoto Fusioneering on specialised reactor systems.

The agreements are preliminary arrangements rather than binding purchase orders or commitments to construct manufacturing facilities. Financial terms and delivery schedules have not been disclosed, leaving the scale of any eventual procurement dependent on further negotiations and technical work.

Under the Fujikura agreement, the companies will examine the feasibility of establishing a factory in the German state of Lower Saxony to manufacture high-temperature superconducting tape, known as HTS tape. The material is used to make powerful magnets that confine extremely hot plasma inside fusion machines.

Proxima estimates that its Alpha demonstration stellarator will require approximately 20,000 kilometres of tape. Each subsequent Stellaris commercial power plant would need around 40,000 kilometres, making dependable manufacturing capacity central to its development plans.

The collaboration follows Proxima’s September memorandum of understanding with Lower Saxony concerning a large-scale European production facility. The proposed project’s first two phases envisage investment of approximately €140 million through 2029, with public and private financing expected to contribute equally. The state has identified €21 million as its intended contribution.

The latest Fujikura arrangement concerns feasibility work and does not establish that the proposed factory has secured final financing, regulatory approvals or a construction timetable. Fujikura already manufactures superconducting tape and supplies other fusion developers, giving it industrial experience in a material whose production requires demanding quality controls.

Fujikura announced in September a separate long-term agreement to supply more than 10,000 kilometres of superconducting tape to US-based Commonwealth Fusion Systems for its planned ARC power plants. That contract also involves expansion of the Japanese manufacturer’s production capacity.

Proxima’s second agreement brings Kyoto Fusioneering into work on gyrotrons, devices that generate high-power microwaves to heat plasma, and fuel-cycle technology used to manage the hydrogen isotopes required for fusion reactions. Both systems are essential to operating a reactor beyond the magnetic confinement stage.

Kyoto Fusioneering is also expected to contribute technology to Germany’s national Fusion Hubs programme, which was launched with an initial €125 million in research funding. The collaboration connects a Japanese supplier specialising in fusion engineering with Proxima’s reactor development and Germany’s broader industrial research effort.

The company has experience developing plasma-heating equipment and integrated fuel-handling technologies. Its engineering activities include work on gyrotrons and experimental systems designed to test processes needed for future fusion plants. The agreement with Proxima does not itself constitute a confirmed equipment delivery.

Proxima develops stellarators, a type of fusion device that uses carefully shaped magnetic fields to hold plasma in place. Its approach differs from the tokamak configuration pursued by several other fusion developers, although both depend on advanced magnets and systems capable of sustaining demanding operating conditions.

The company’s Alpha demonstrator is intended to operate in the early 2030s and test whether its stellarator design can achieve net energy gain from fusion. Its Stellaris concept is intended as a subsequent electricity-producing plant at Gundremmingen, the site of a former nuclear power station in Bavaria.

Proxima raised €411 million in July to support its development programme. The company emerged from the Max Planck Institute for Plasma Physics in 2023 and has assembled partnerships with engineering and manufacturing businesses as it moves towards constructing its first major machine.

Neither the Alpha timetable nor the commercial ambitions establish that fusion electricity production has been demonstrated at an economically viable scale. Substantial engineering, testing and regulatory work remains before a commercial plant can supply electricity to the grid.

The company’s manufacturing strategy also reflects the substantial quantities of specialised materials required for stellarator construction. Superconducting tape must meet stringent performance specifications, including its ability to carry large electrical currents while exposed to strong magnetic fields and extremely low temperatures.

Fujikura and Kyoto Fusioneering were already listed among participants in Proxima’s Alpha Alliance, an industrial network bringing together companies with expertise in materials, components and reactor engineering. The new memorandums identify more specific areas for cooperation within that wider group.

The forecast identifies large language models, which underpin generative AI applications, as an area where China is particularly well positioned to establish leadership. It also anticipates that Chinese companies and research institutions will become at least competitive across other critical technology sectors, potentially reshaping the balance of technological capabilities between Beijing and Washington.

The assessment comes as Chinese AI developers narrow the performance gap with American competitors despite restrictions on access to advanced semiconductors. Improvements in model efficiency, expanding domestic computing infrastructure and competitive pricing have strengthened China’s position in the global market.

Bloomberg Intelligence senior analyst Robert Lea identified a sharp improvement in Chinese model performance earlier this month. Leading Chinese systems trailed their American counterparts by approximately 3% on benchmark scores, compared with around 9% in May and 15% earlier this year.

That narrowing gap followed the September introduction of DeepSeek’s V4.1 Flash model, which demonstrated further advances in reasoning and computational efficiency. The findings suggest that restrictions on sophisticated American chips have not prevented Chinese developers from improving their systems.

The projections nevertheless remain conditional on technological progress, investment and commercial adoption over the next four years. Competitive performance in individual benchmarks does not necessarily establish overall leadership, particularly when computing capacity, profitability and enterprise deployment are considered.

China’s expanding capabilities are already influencing international adoption patterns. Models developed by DeepSeek, Alibaba and Moonshot AI have attracted developers seeking alternatives to comparatively expensive proprietary systems offered by American technology companies.

Data from OpenRouter, a platform providing access to multiple AI models, showed Chinese systems gaining substantial shares of usage during 2026. However, the figures represent activity through that platform rather than the entire global market, where direct subscriptions and enterprise contracts remain significant.

Chinese developers have also benefited from distributing models with openly available weights, allowing businesses and programmers to customise systems without depending entirely on proprietary services. This approach has encouraged international experimentation and strengthened adoption among cost-conscious users.

American companies retain important advantages, particularly in advanced semiconductor access, large-scale computing infrastructure and commercial relationships with enterprise customers. OpenAI, Anthropic and Google continue investing heavily in frontier models and the infrastructure required to train increasingly sophisticated systems.

Financial performance illustrates the distinction between technological competitiveness and commercial success. Anthropic disclosed revenue of $16.3 billion for the first half of 2026, compared with $1.2 billion during the corresponding period a year earlier, reflecting strong demand for its enterprise services.

Chinese developers face greater pressure on pricing, with intense domestic competition limiting opportunities to convert growing usage into sustainable earnings. Lower-cost models can accelerate adoption while simultaneously reducing margins available to finance future development.

Semiconductor manufacturing remains another constraint. Washington’s export controls restrict Chinese access to certain advanced processors and manufacturing equipment, although domestic suppliers including Huawei are developing alternatives intended to support national computing requirements.

China’s response increasingly combines domestic chip development with software optimisation. Researchers have demonstrated that improvements in training methods, architecture and inference efficiency can reduce dependence on the most powerful available hardware.

Beijing is also pursuing greater integration between artificial intelligence and telecommunications infrastructure. A three-year programme issued by the Ministry of Industry and Information Technology in June established targets for autonomous networks, computing access and specialised AI applications through 2028.

The programme envisages significant breakthroughs in core technologies by 2030, alongside improved coordination between communications networks, computing resources and intelligent services. Its objectives complement broader efforts to establish domestic technological capabilities.

Regulatory developments could influence the international availability of Chinese technology. Authorities proposed export restrictions this month covering 23 categories of AI technology, including language models, autonomous agents, chip designs and computing clusters.

The draft measures would potentially subject transfers of certain model weights, source code and advanced technologies to government approval. Their final scope and implementation remain undetermined.

China’s Ministry of Commerce has presented the proposals as part of a wider effort to regulate strategically sensitive technology transfers. The consultation also covers technologies beyond artificial intelligence, reflecting the government’s expanding attention to intellectual property and national security.

For overseas developers using Chinese models, the eventual rules could affect access to advanced systems and associated technical resources, depending on the restrictions adopted and the thresholds applied to particular technologies.

The proposed overhaul would expand investment opportunities for pension funds while maintaining safeguards for retirement savings. The Pension Fund Regulatory and Development Authority (PFRDA) is examining changes to the framework that determines how contributions are allocated across government securities, corporate bonds, equities and alternative investments.

The exercise comes as the regulator reassesses investment restrictions that have traditionally favoured highly rated debt and relatively conservative portfolios. Greater flexibility could channel additional institutional capital towards companies, infrastructure projects and investment vehicles that currently face restrictions on accessing pension money.

No final decision has been announced on the proposed changes, and the precise investment limits, eligibility requirements and implementation timetable remain subject to regulatory consideration.

The authority established a Strategic Asset Allocation and Risk Governance committee in January to undertake a comprehensive examination of investment guidelines. Its mandate includes reviewing permissible asset classes, portfolio diversification, valuation practices, liquidity management and safeguards against excessive risk concentration.

The committee has also been tasked with comparing the pension system’s investment architecture with international practices and recommending adjustments that reflect changing domestic financial markets.

One area under examination concerns the credit quality of debt securities eligible for pension investment. Existing regulations impose rating requirements designed to protect subscribers against defaults and deterioration in the financial condition of borrowers.

Relaxing some restrictions could expand demand for corporate bonds beyond the highest-rated issuers, potentially improving financing opportunities for companies that struggle to attract long-term institutional investors.

Such changes would nevertheless expose pension portfolios to additional credit risks. Lower-rated securities generally offer higher yields to compensate investors for greater uncertainty over repayment, making effective credit assessment and portfolio supervision particularly important.

Alternative investments represent another area of potential expansion. These can include infrastructure investment trusts, real estate investment trusts, securitised instruments and regulated alternative investment funds, subject to the applicable scheme guidelines.

The existing framework already permits limited exposure to several such instruments. For certain subscriber investment choices, alternative assets are restricted to 5% of the portfolio, illustrating the cautious approach adopted towards less conventional investments.

An expansion would require careful consideration of liquidity, valuation transparency and the ability of pension managers to exit investments when necessary.

The regulator’s review specifically addresses valuation standards for alternative investment funds and strategies for managing assets that cannot readily be sold. These questions are significant because retirement funds must balance long investment horizons against subscribers’ withdrawal requirements.

The possible changes could also affect the corporate bond market, where greater participation by pension funds would provide an additional source of long-term financing.

However, the eventual market impact would depend on the permitted allocations, the credit standards adopted and investment decisions made by individual fund managers. Regulatory permission would not necessarily translate into immediate purchases of newly eligible securities.

The pension system has accumulated substantial assets as contributions from government employees, corporate workers and individual subscribers have increased.

Government figures put National Pension System assets under management at approximately ₹15.95 lakh crore at the end of March 2026. The separately administered Atal Pension Yojana held approximately ₹51,400 crore.

The scale of these savings makes investment policy an important consideration for both financial market development and retirement security.

Existing guidelines distinguish between government and non-government subscribers, with different investment patterns and restrictions applying to particular schemes.

Non-government subscribers can exercise greater control over their portfolios through available investment choices, while default arrangements for government employees operate under prescribed allocation rules.

The authority has already demonstrated its willingness to broaden eligible investments within established safeguards.

A regulatory circular issued in May permitted pension funds to purchase rupee-denominated bonds issued by the New Development Bank, adding the institution to an existing list of eligible multilateral lenders.

That amendment retained the applicable minimum AA credit rating requirement and maturity conditions, underscoring the distinction between expanding eligible securities and lowering credit standards.

The regulator’s broader review also covers performance benchmarks, accountability mechanisms and asset-liability management practices. These determine how investment results are assessed and whether portfolio risks remain compatible with long-term pension obligations.

The committee’s mandate further includes examining concentration limits, operational risks and sustainability considerations within pension investment decisions, alongside measures intended to strengthen oversight of participating fund managers.

The Summit explored the trends reshaping customer expectations and the future of financial services. Discussions focused on rising wealth, increasing cross-border mobility, and the growing convergence of data, artificial intelligence and human expertise. Participants exchanged perspectives on how deeper partnerships can enhance customer outcomes and unlock new opportunities for the next phase of growth.

Chengdu’s history provided a fitting backdrop for the Summit. More than a thousand years ago, the city pioneered “jiaozi”, widely regarded as the world’s first paper money. Its success depended on trust in the promise behind it, a principle that remains equally important in successful partnerships today.

Dennis Tan, Regional CEO, Thailand, Vietnam, Cambodia, Myanmar; Group Partnership Distribution, Prudential plc, said: “Keeping promises sits at the heart of every partnership for Prudential. Founded on trust and strengthened through collaboration, these relationships help us meet customers’ increasingly interconnected health, protection and wealth needs.

“The Summit demonstrated the strength of Prudential’s partnership ecosystem and the opportunities ahead. By bringing together distribution expertise, digital capabilities and market insights, we are working to create better customer experiences and drive long-term, sustainable growth with our partners.”

The programme also featured guest speaker Pierluigi Collina, FIFA’s Chief Refereeing Officer and referee of the 2002 FIFA World Cup Final. Drawing on his experience at the highest level of international football, he shared perspectives on leadership, accountability and sound decision-making in complex and rapidly changing environments.

Partnership distribution at Prudential

Prudential harnesses the strength of its partnership ecosystem to translate shared priorities into action, helping more customers achieve greater financial security and confidence for the future.

Partnership distribution has long been central to Prudential’s growth strategy. Since establishing its first strategic bancassurance partnership in 1998, Prudential has built one of Asia’s largest bancassurance franchises, comprising more than 180 banking partnerships across markets. In the first half of 2026, the bancassurance channel delivered US$586 million in new business profit, up 13 per cent on a constant exchange rate basis from US$505 million in the same period last year.

Hashtag: #Prudentialplc

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About Prudential plc

Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (HKEX: 2378) and the London Stock Exchange (LSE: PRU). It also has a secondary listing on the Singapore Stock Exchange (SGX: K6S) and a listing on the New York Stock Exchange (NYSE: PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

www.prudentialplc.com