Chinese Vice Premier Zhang Guoqing to Attend Paris AI Summit

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Chinese Vice Premier Zhang Guoqing will visit France from February 10 to 12 as President Xi Jinping’s special representative at the AI Action Summit, the Chinese Foreign Ministry announced on Friday. The summit will bring together representatives from nearly 100 nations to discuss the safe and responsible development of artificial intelligence (AI).

Foreign Ministry spokesperson Lin Jian expressed China’s eagerness to enhance communication and collaboration with all attending nations. “China looks forward to strengthening communication and exchanges with all parties,” Lin said during a regular briefing. He also stated that China aims to build a consensus on AI cooperation and promote the implementation of the United Nations Global Digital Compact by participating in the summit.

The summit is expected to focus on strategies to manage AI development and foster international cooperation in AI technologies. The U.S. delegation, led by Vice President JD Vance, will also be attending, though it will not include technical staff from the AI Safety Institute

Europol Urges Financial Sector to Prepare for Quantum Computing Risks

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Europol’s Quantum Safe Financial Forum has called on Europe’s financial industry to start preparing for the potential risks posed by quantum computers, which could break commonly used encryption methods within the next 10 to 15 years. The group, which focuses on safeguarding sensitive financial data, issued a warning on Friday about the risks quantum computing poses to customer confidentiality, peer communications, authentication processes, and trust in digital signatures.

Although quantum computers capable of such threats may still be a decade or more away, the timeline could accelerate, the forum warned. Despite the emerging risks, the forum believes new regulations are unnecessary, as current European Union data protection laws are sufficient.

The Quantum Safe Financial Forum includes representatives from the U.S., European, and British central banks, along with major financial institutions such as Allianz, Santander, Barclays, BNP Paribas, Mastercard, Moody’s, and European banking associations.

Quantum computers operate by leveraging subatomic particles to perform calculations more efficiently than traditional binary computing systems. Given their potential to decrypt today’s secure communications, the forum recommended that financial institutions begin identifying which cryptographic standards are vulnerable to quantum computing and start drafting operational plans to mitigate future risks.

The forum also cautioned that criminals may already be storing sensitive encrypted data with the intention of decrypting it once quantum computing becomes more powerful.

The U.S. government has already set a 2035 deadline for federal agencies to become “quantum resistant,” underscoring the urgency for global financial institutions to follow suit.

Thailand Seeks Semiconductor Investments Amid U.S.-China Trade War

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Thailand plans to draft a strategic plan for its semiconductor sector within 90 days as it aims to attract investment amid U.S. President Donald Trump’s renewed trade war with China. Narit Therdsteerasukdi, secretary-general of the Thailand Board of Investment (BOI), announced that the national semiconductor board will hire a consultancy to develop an industry roadmap.

Narit, who reports directly to the prime minister, is organizing investment roadshows in the United States and Japan to promote Thailand as a semiconductor manufacturing hub. The ongoing trade tensions between the U.S. and China have disrupted global semiconductor supply chains, prompting many companies to shift operations to Southeast Asia. President Trump’s recent announcement of a 10% tariff on Chinese imports signals further trade disruptions.

Thailand experienced a significant 35% rise in inbound investment applications last year, totaling a decade-high 1.14 trillion baht ($33.5 billion). Narit expects further growth this year, especially in the electronics and digital sectors.

According to a 2024 Kearney report, Thailand ranks as the second-best emerging economy for semiconductor manufacturing, trailing only India. The country is targeting 500 billion baht in new semiconductor investments by 2029, focusing on power electronics used in electric vehicles, data centers, and energy storage systems.

Major semiconductor companies with operations in Thailand include Massachusetts-based Analog Devices, Japan’s Sony and Toshiba, Germany’s Infineon, and a subsidiary of Taiwan’s Foxsemicon Integrated Technology. The BOI noted that investments in printed circuit board manufacturing—a vital component in devices like smartphones and EVs—have surged since 2023 due to the trade war.

Narit highlighted Thailand’s neutrality as a significant factor for investors choosing the country. However, competition remains fierce, especially from Malaysia, which accounts for 13% of global chip testing and packaging and is targeting over $100 billion in semiconductor investments.