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CALIFORNIA, NEW JERSEY AND ILLINOIS STILL FACING HIGHER RISK OF HOUSING MARKET DECLINE

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New York City and Chicago Areas More Exposed to Market Downturns; At-Risk Locations Have Weaker Affordability, Foreclosure, Underwater and Job Numbers; Lower Risk Again Mainly Spread Across Southern and Midwestern Regions

IRVINE, Calif., March 7, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, underwater mortgages and other measures in the fourth quarter of 2023. The report shows that California, New Jersey and Illinois continue to have the highest concentrations of the most-at-risk markets in the country, with some of the biggest clusters in the New York City and Chicago areas, along with inland California. Less-vulnerable markets are spread mainly throughout the South and Midwest.

The fourth-quarter patterns – derived from gaps in home affordability, underwater mortgages, foreclosures and unemployment – revealed that California, New Jersey and Illinois had 34 of the 50 counties considered most vulnerable to potential drop-offs. As with earlier periods over the past few years, those concentrations dwarfed other parts of the country, with the latest coming at a time of significant market uncertainty connected to increasingly unaffordable home ownership costs and relatively high home-mortgage interest rates.

The 50 counties on the most-exposed list included six in and around New York City, five in the Chicago metropolitan area and 14 in areas of California away from the Pacific coast. The rest were scattered around other parts of the country.

At the other end of the risk spectrum, the Midwest and South again had the most markets considered least likely to decline, including nine in Wisconsin and five in Kansas.

“Fault lines running through the foundation of the U.S. housing market continue to appear in different parts of the country, with some areas remaining more or less vulnerable than others,” said Rob Barber, CEO at ATTOM. “As always, this is not a warning sign for homeowners to run out and sell, or rush to buy, in any specific market. The housing market remains strong throughout most of the country despite some recent small downturns. Rather, this report again spotlights areas that appear more or less exposed to a market fall, should that start to happen, based on key measures.”

Counties were considered more or less at risk based on the percentage of homes facing possible foreclosure, the portion with mortgage balances that exceeded estimated property values, the percentage of average local wages required to pay for major home ownership expenses on median-priced single-family homes and local unemployment rates. The conclusions were drawn from an analysis of the most recent home affordability, home equity and foreclosure reports prepared by ATTOM. Unemployment rates came from federal government data. Rankings were based on a combination of those four categories in 580 counties around the United States with sufficient data to analyze in the fourth quarter of 2023. Counties were ranked in each category, from lowest to highest, with the overall conclusion based on a combination of the four ranks. See below for the full methodology.

The ongoing risk disparities throughout the country persisted in the fourth quarter of 2023 as key market measures tracked downward and home ownership remained a financial stretch across much of the nation.

The national median home price was flat during the Summer of last year and dropped 3 percent in the Fall after a springtime surge stalled out. Declining prices in late 2023 slightly deflated homeowner equity and raised underwater mortgage rates. But even as values dipped a bit, home affordability continued to consume at least a third of average local wages in most of the U.S., putting the nation’s 12-year housing market boom at risk.  

Chicago and New York City metro areas face greater risk along with wide swaths of California
The metropolitan areas around Chicago, IL, and New York, NY, as well as a stretch of inland California, had 25 of the 50 U.S. counties considered most vulnerable in the fourth quarter of 2023 to housing market troubles (from among 580 counties with enough data to analyze).

The 50 most at-risk counties included one in New York City (Kings County, which covers Brooklyn), five in the New York City suburbs (Essex, Ocean, Passaic, Sussex and Union counties, all in New Jersey) and five in the Chicago metropolitan area (De Kalb, Kane, Lake, McHenry and Will counties).

The 14 located across inland California were Butte County (Chico), Sacramento County, El Dorado County (outside Sacramento) and Solano County (outside Sacramento) in the northern part of the state, and Fresno County, Kern County (Bakersfield), Kings County (outside Fresno), Madera County (outside Fresno), Merced County (outside Fresno), San Joaquin County (Stockton), Stanislas County (Modesto) and Tulare County (outside Fresno) in central California. Two others, Riverside County and San Bernardino County, were in southern California.

Elsewhere, the top-50 list included two in the Philadelphia, PA, metro area (Camden and Gloucester counties in New Jersey) and two near St. Louis, MO (Saint Clair and Madison counties in Illinois).

Counties more vulnerable to declines have less-affordable homes as well as higher levels of underwater mortgages, foreclosures and unemployment
Major home-ownership costs (mortgage payments, property taxes and insurance) on median-priced single-family homes consumed more than one-third of average local wages in 43 of the 50 counties that were considered most vulnerable to market drop-offs in the fourth quarter of 2023. Nationwide, major expenses on typical homes sold in the fourth quarter required 33.7 percent of average local wages – almost exactly one-third.

The highest percentages in the 50 most at-risk markets were in Kings County (Brooklyn), NY (114 percent of average local wages needed for major ownership costs); Riverside County, CA (74.2 percent); El Dorado County, CA (outside Sacramento) (73.7 percent); Contra Costa County, CA (outside Oakland) (67.2 percent) and Passaic County, NJ (outside New York City) (67.1 percent).

At least 5 percent of residential mortgages were underwater in the fourth quarter of 2023 in 36 of the 50 most-at-risk counties. Nationwide, 6.1 percent of mortgages fell into that category, with homeowners owing more on their mortgages than the estimated value of their properties. Those with the highest underwater rates among the 50 most at-risk counties were Tangipahoa Parish, LA (east of Baton Rouge) (22.8 percent underwater); Saint Clair County, IL (outside St. Louis, MO) (17.4 percent); Montgomery County (Clarksville), TN (15.5 percent); Hardin County, KY (outside Louisville) (15.5 percent) and Madison County, IL (outside St. Louis, MO) (14.6 percent).

More than one of every 1,000 properties faced a foreclosure action in the fourth quarter of 2023 in 36 of the 50 most vulnerable counties. Nationwide, one in 1,503 homes were in that position.

The highest foreclosure rates among the top 50 counties were in Cumberland County (Vineland), NJ, (one in 456 properties facing possible foreclosure); Sussex County, NJ (outside New York City) (one in 540); Camden County, NJ (outside Philadelphia, PA) (one in 565); Madison County, IL (outside St. Louis, MO) (one in 575) and Madera County, CA (outside Fresno) (one in 597).

The November unemployment rate was at least 4 percent in 39 of the 50 most at-risk counties, while the nationwide figure stood at 3.7 percent. The highest rates in the top 50 counties were all in central California: Tulare County, CA (outside Fresno) (10.2 percent); Merced County, CA (outside Fresno) (8.5 percent); Kings County, CA (outside Fresno) (8 percent); Kern County (Bakersfield), CA (7.8 percent) and Fresno County, CA (7.6 percent).

Counties least at risk concentrated in South and Midwest
Twenty-five of the 50 counties considered least vulnerable to housing-market problems from among the 580 included in the fourth-quarter report were in the Midwest and 14 were in the  South. Nine were in the Northeast while just two were in the West.

Wisconsin had nine of the 50 least at-risk counties in the fourth quarter: Brown County (Green Bay), Outagamie County (outside Green Bay), Dane County (Madison), Rock County (outside Madison), Eau Claire County, La Crosse County, Marathon County (Wausau), Washington County (outside Milwaukee) and Winnebago County (Oshkosh).

Another five were in Kansas, all in or near Kansas City, Topeka and Wichita: Wyandotte County (Kansas City), Johnson County (Overland Park), Shawnee County (Topeka), Douglas County (outside Topeka) and Sedgwick County (Wichita).

Less-vulnerable counties have better affordability along with other more favorable measures
Major ownership costs on median-priced single-family homes required more than one-third of average local wages in 31 of the 50 counties that were considered least vulnerable to market problems in the fourth quarter of 2023 (compared to 43 of the most at-risk).

The highest levels were in Gallatin County (Bozeman), MT (76.8 percent of average local wages needed for major ownership costs); Washington County, RI (outside Providence) (74.6 percent); Forsyth County GA (outside Atlanta) (66.2 percent); Williamson County, TN (outside Nashville) (62.2 percent) and Loudoun County, VA (outside Washington, DC) (59.3 percent).

Less than 5 percent of residential mortgages were underwater in the fourth quarter of 2023 (with owners owing more than their properties were worth) in 39 of the 50 least-at-risk counties. Those with the lowest rates were Williamson County, TN (outside Nashville) (1.6 percent underwater); Loudoun County, VA (outside Washington, DC) (1.8 percent); Washington County, RI (outside Providence) (1.8 percent); Forsyth County GA (outside Atlanta) (2 percent) and Hillsborough County (Manchester), NH (2 percent).

More than one in 1,000 properties faced a foreclosure action during the fourth quarter of 2023 in none of the 50 least-at-risk counties. Those with the lowest rates were Johnson County (Overland Park), KS (one in 49,771 properties facing possible foreclosure); Wyandotte County (Kansas City), KS (one in 17,086); La Crosse County, WI (one in 13,056); Williamson County, TN (outside Nashville) (one in 12,677) and Dane County (Madison), WI (one in 11,176).

The November 2023 unemployment rate was less than 3 percent in 45 of the 50 least-at-risk counties. The lowest rates among those counties were in Cass County (Fargo), ND (1.3 percent); Olmsted County (Rochester), MN (1.4 percent); Howard County, MD (outside Baltimore) (1.4 percent); Minnehaha County (Sioux Falls), SD (1.6 percent) and Stearns County (St. Cloud), MN (1.8 percent).

Report methodology
The ATTOM Special Coronavirus Market Impact Report is based on ATTOM’s fourth-quarter 2023 foreclosure, home affordability and underwater property reports, plus November 2023 unemployment figures from the U.S. Bureau of Labor Statistics. (Press releases for affordability, foreclosure and underwater-property reports show the methodology for each.) Counties with sufficient data to analyze were ranked based on the fourth-quarter percentage of properties with a foreclosure filing, the percentage of average local wages needed to afford the major expenses of owning a median-priced home and the percentage of properties with outstanding mortgage balances that exceeded their estimated market values, along with November 2023 county unemployment rates. Ranks then were added up to develop a composite ranking across all four categories. Equal weight was given to each category. Counties with the lowest composite rank were considered most vulnerable to housing market problems. Those with the highest composite rank were considered least vulnerable.

About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency, and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloudbulk file licensesproperty data APIsreal estate market trendsproperty navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications– AI-Ready Solutions

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

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76% of Coupon Codes Work at Checkout, but Most Failures Trace Back to Terms Shoppers Never Read, CouponDopa Study Finds

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Study Finds 76% of Coupon Codes Work at Checkout

NEW YORK, July 18, 2026 /PRNewswire-PRWeb/ — Multi-country research across 11 regions finds that most coupon code failures were not due to expired codes, but to terms and conditions shoppers did not check before checkout.

Our research shows that most coupon code failures are caused by overlooked terms and conditions not expired codes. Understanding the offer requirements can significantly improve checkout success.” — Anderson Joe, CMO, CouponDopa

A new study testing 1,000 coupon codes across 11 countries found that three in four online discount codes applied successfully at checkout, while the remaining failures were tied more often to unmet terms than to expired or invalid codes.

The research was conducted by CouponDopa, a multi-regional coupon platform operating in 11 countries. Codes were tested across multiple retail categories in July 2026 to measure real checkout success rates.

KEY FINDINGS

Overall success rate: 76%. Overall failure rate: 24%. Highest-performing country: Netherlands, 81%. Lowest-performing countries: Poland and Italy, tied at 70%. Highest-performing category: Electronics. Lowest-performing category: Travel. Desktop success rate: 78%. Mobile success rate: 74%.

The study’s most significant finding was not the failure rate itself, but the reasons behind it.

“The assumption most shoppers make is that a coupon code doesn’t work because it’s expired,” said Anderson Joe, CMO at CouponDopa. “Our testing found that expiry was rarely the primary issue. In most failed attempts, the code was still active, but the shopper’s cart did not meet a listed condition, such as a minimum spend or a region restriction.”

WHY COUPON CODES ACTUALLY FAIL

Minimum spend not met: the most common reason for failure across all 11 regions, since many codes require a basket value above a set threshold.Region-specific restrictions: codes valid in one country frequently failed in another.Unread terms and conditions: codes were applied to excluded categories, sale items, or specific product ranges without checking eligibility first.Delivery and shipping thresholds: free shipping codes requiring a minimum order value were sometimes mistaken for blanket offers.

No exact percentage breakdown of failure causes is available. Minimum spend is confirmed as the single most common cause; the other three were not ranked against each other.

“In our view, a code that fails because of an unmet minimum spend is not necessarily a broken code,” said Anderson. “It may simply be a condition the shopper did not see before checkout.”

REGIONAL FINDINGS — NETHERLANDS LEADS

Country Success Rate

Netherlands 81%

Germany 79%

United States 77%

Canada 77%

United Kingdom 76%

Australia 75%

New Zealand 74%

France 73%

Spain 72%

Poland 70%

Italy 70%

Netherlands recorded the highest success rate of the 11 regions tested. Germany followed closely. The United Kingdom matched the overall study average, and Canada and the United States recorded the same rate. Poland and Italy recorded the lowest rates in the study, tied at 70%.

ELECTRONICS OUTPERFORMS TRAVEL

Electronics recorded the highest coupon code success rate of any category tested, at 80%, while travel recorded the lowest, at 69%.

“Electronics codes in our sample tended to carry fewer conditions,” noted Anderson Joe. “Travel codes more often included conditions tied to dates, destinations, or booking windows, which may explain the difference.”

MOBILE SHOPPERS RECORD LOWER SUCCESS RATES

Desktop checkouts recorded a 78% success rate compared with 74% for mobile, a 4-point gap. Researchers said the difference may relate to how terms are displayed on smaller screens, though this was not directly tested.

“We saw a consistent gap between desktop and mobile across our markets,” said Anderson Joe. “We can’t say precisely why from this data alone, but it’s a pattern worth further study.”

ABOUT THE STUDY

CouponDopa tested 1,000 coupon codes across 11 countries during July 2026, across electronics, fashion, food delivery, travel, beauty, and home categories. Codes were manually tested at real checkouts on desktop and mobile. A code counted as successful only when the discount appeared in the checkout total. Failed codes were categorized by reason. Read the complete methodology available at CouponDopa tested 1000 coupon codes in 11 regions.

ABOUT COUPONDOPA

CouponDopa is a multi-regional coupon and discount platform operating across 11 countries. CouponDopa verifies coupon codes across hundreds of brands before publishing, providing shoppers with discount information across major retail categories, including verified codes available on CouponDopa’s store pages.

MEDIA CONTACT

Organization: Coupondopa

Contact Person Name: Anderson Joe

Website: https://www.coupondopa.com/

Email: info@coupondopa.com

Contact Number: +1 (530) 269-6377

Address: 165 ithaca Bayshore NY, 11706 USA

City: Bay Shore

State: NY

Country: United States

Media Contact

Anderson Joe, Coupondopa, 1 631 404-9968, coupondopa@gmail.com, https://www.coupondopa.com/

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Global Times: Head-of-state diplomacy shines at WAIC, fostering ties and advancing global governance consensus

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BEIJING, July 17, 2026 /PRNewswire/ — Chinese President Xi Jinping on Friday held a series of high-level meetings on the sidelines of the 2026 World Artificial Intelligence Conference (WAIC) and High-Level Meeting on Global AI Governance in Shanghai, sitting down successively with Thai Prime Minister Anutin Charnvirakul, Cambodian Prime Minister Hun Manet, and UN Secretary-General António Guterres. The bustling diplomatic activity transformed the WAIC from a premier showcase of AI technologies and industrial breakthroughs into a vibrant platform for head-of-state diplomacy and global governance coordination.

Analysts said hosting intensive head-of-state diplomatic events in Shanghai, a core hub of reform, opening-up and technological innovation, carries profound meaning. In addition, Friday’s high-level meetings embody the innovative model of “technology builds the stage while diplomacy takes the leading role.” It not only deepens China’s bilateral relations with ASEAN members, but also helps advance inclusive global AI governance centered on the UN mechanism.

Strategic guidance

According to the two separate official releases by Xinhua, during his meetings with the prime ministers of Thailand and Cambodia, President Xi spoke of the long-standing friendship China shares with both nations. He called on China and Thailand, as well as China and Cambodia, to join hands to advance the development of their respective communities with a shared future.

Furthermore, the Chinese leader stressed the need for China to expand pragmatic cooperation with Thailand and Cambodia respectively across traditional and emerging sectors, and work with each country to jointly crack down on cross-border crimes such as online gambling and telecom fraud, according to Xinhua.

He called for the proper handling of border frictions between Thailand and Cambodia and called on the two sides to resolve disputes through dialogue and consultation, with China standing ready to continue playing a constructive role in this regard, per Xinhua.

During their respective meetings with the Chinese leader, the prime ministers of Thailand and Cambodia both expressed willingness to deepen multi-field cooperation with China and spoke highly of China’s positive efforts to facilitate the peaceful settlement of the Thailand-Cambodia border conflicts.

Xu Liping, Director of the Center for Southeast Asian Studies at the Chinese Academy of Social Sciences, told the Global Times that head-of-state diplomacy has charted the fundamental course for the advancement of China’s ties with both Cambodia and Thailand.

WAIC exemplifies the innovative model of “technology builds the platform, while diplomacy takes the leading role,” said Xu, “In addition, AI cooperation is also expected to serve as a vital entry point to further deepen and substantiate China’s ties with Thailand and Cambodia going forward.”

Furthermore, addressing the sensitive and thorny Thailand-Cambodia border dispute amid the relatively relaxed atmosphere of a tech summit enables all relevant parties to handle differences in a rational and pragmatic manner, which embodies Eastern wisdom and an Asian approach to resolving issues, said Xu.

The year 2026 marks the fifth anniversary of the establishment of the China-ASEAN comprehensive strategic partnership, witnessing the official rollout of the new Plan of Action on the China-ASEAN Comprehensive Strategic Partnership (2026-2030). It also kicks off the implementation of China’s 15th Five-Year Plan.

The critical juncture offers a perfect window to align China’s development plans closely with the national development strategies of Global South countries and ASEAN members, said Xu. “Thailand and Cambodia’s willingness to ramp up cooperation with China mirrors the aspiration of the majority of ASEAN members to leverage China’s development dividends and pursue win-win outcomes and common prosperity in the region.”

Firm support for UN

In his meeting with UN Secretary-General Antonio Guterres on Friday, Xi reiterated China’s firm support for the UN.

Noting that this year marks the 55th anniversary of the restoration of the lawful seat of the People’s Republic of China at the UN, the Chinese leader said China has since been committed to building world peace, contributing to global development, defending international order, and firmly supporting the UN, Xinhua reported.

Xi added that he proposed the vision of building a community with a shared future for humanity and the four global initiatives with one important consideration in mind – to uphold the status and authority of the UN.

Currently, the international landscape is marked by more pronounced changes and turbulence, making it all the more necessary to practice true multilateralism and reinvigorate the status and role of the UN, he said.

Guterres commended China for its steadfast support for multilateralism, the cause of the UN, and international cooperation, saying that China has set an example for the world.

Guterres said the UN will continue to strengthen cooperation with China, oppose unilateralism, protectionism, and hegemonic bullying, safeguard the UN Charter and international law, as well as advance the process toward a multipolar world.

At this pivotal juncture where talks on AI development and UN multilateral governance converge, China, leveraging head-of-state diplomacy as a top-tier platform, has elaborated in a systematic manner its vision for global governance in the AI era, Wang Yiwei, a professor at the School of International Studies, Renmin University of China, told the Global Times.

He added that China’s emphasis on the UN-centered global governance architecture will further strengthen the UN’s authority and operational capacity.

Before the official opening of the WAIC, on Thursday, representatives from 29 countries, including Kazakhstan, Laos, Pakistan, Russia and Indonesia, signed an agreement on establishing the World Artificial Intelligence Cooperation Organization (WAICO) in Shanghai. UN chief Guterres was among representatives from countries and international organizations present at the signing ceremony.

According to the agreement, WAICO will be an independent intergovernmental international organization, which aims to promote international cooperation and global governance on AI, ensuring that AI is beneficial, safe and fair, thereby promoting its healthy and orderly development to benefit all humanity.

President Xi on Friday also announced that in the next five years, China will provide developing countries with 5,000 opportunities in AI training and seminar programs. China will also develop international AI application cooperation centers with the ASEAN, the League of Arab States, the African Union, the Community of Latin American and Caribbean States, the Shanghai Cooperation Organization, and BRICS.

However, some international media, including Reuters and Nikkei, used the term “AI diplomacy” describing the grand gathering in Shanghai, claiming that Beijing seeks a new global AI order, challenging US dominance.

In rebuttal, Wang pointed out that China advocates open, inclusive technology that lets AI benefit all humanity under the vision of “AI for All”. In contrast, the US adheres to a mindset of “All for AI”, weaponizing AI for geopolitical rivalry and aiming to outpace China in technological competition. Driven by the “America First” doctrine and capital-centric priorities, Washington’s approach forms a sharp contrast with China’s.

Meanwhile, China’s resolute commitment to upholding the UN system underscores that for China and a wide array of Global South countries, the sensible path lies in reforming and improving the existing global governance architecture rather than discarding it to build parallel institutions from scratch, the expert added.

This article first appeared on Global Times

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Global Times: China sends fresh signal on global AI cooperation at WAIC

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BEIJING, July 17, 2026 /PRNewswire/ — “AI development should not be a solo performance by a single country, but a symphony of international cooperation,” Chinese President Xi Jinping said on Friday while addressing the opening ceremony of the 2026 World AI Conference (WAIC) and High-Level Meeting on Global AI Governance, stressing that China is ready to be more open, take more practical actions, and assume a more visionary perspective.

We are ready to work with all parties to seize the opportunities of AI development and meet the challenges, and join hands to create a brighter future for humanity, he added.

Xi’s remarks received positive responses from domestic and foreign enterprises and experts, as they spoke highly of China’s scientific and technological achievements in recent years while noting that China’s commitment to openness and cooperation can help ensure that the benefits of AI are shared by all humanity and Chinese solutions in AI governance enable other countries to better tackle the common challenges brought about by AI development.

Openness and win-win cooperation

Xi presented four observations on AI development and governance in the speech. The Chinese leader called for adhering to the principle of openness and win-win cooperation while boosting innovation-driven development. He highlighted the importance of encouraging open-source, openness, collaboration and sharing to facilitate technological innovation, industrial development and scenario-based application of AI.

He also called for strengthening risk-awareness and ensuring that AI is secure and controllable.  Stressing the need to ensure that AI is always under human control, Xi urged all sides to jointly oppose overstretching the national security concept in the field of AI or placing one country’s security over that of others.

Third, he called for encouraging inclusiveness and promoting mutual learning among civilizations.

Fourth, he called for advocating solidarity and improving global governance. The important role of the United Nations should be recognized, Xi said, calling for further alignment and coordination on AI development strategies, governance rules and technical standards.

“We must carry out extensive international cooperation and help Global South countries with capacity building to bridge the AI and digital divides, promote sustainable development and prevent creating new historical injustice in AI,” he said.

In the next five years, China will provide developing countries with 5,000 opportunities in AI training and seminar programs, Xi said. He said China will develop international AI application cooperation centers with the Association of Southeast Asian Nations, the League of Arab States, the African Union, the Community of Latin American and Caribbean States, the Shanghai Cooperation Organization, and BRICS. China will enable 30 countries to use the AI-powered meteorological warning system, or MAZU, to safeguard homes around the world.

“President Xi’s remarks underscore China’s commitment to advancing global AI governance and technological innovation through opening-up and win-win cooperation, bringing new opportunities for sharing AI dividends and achieving shared prosperity to countries worldwide, especially developing countries,” Song Yang, professor of School of Economics and research fellow at the National Academy of Development and Strategy at Renmin University of China, told the Global Times on Friday.

China is sending a clear and important message: AI should become a bridge between countries, not a new dividing line, Luigi Gambardella, president of the Brussels-based international digital association ChinaEU, told the Global Times on Friday on the sidelines of the forum.

“No country, however technologically advanced, can develop and govern AI alone. China’s commitment to openness and cooperation can help ensure that the benefits of AI are shared by all humanity. It can help prevent the fragmentation of technologies, standards and markets, while ensuring that the opportunities created by AI are shared more widely,” Gambardella said.

“President Xi proposed ‘adhering to the principle of openness and win-win cooperation’ and ‘advocating solidarity’, and announced a series of pragmatic measures to support global AI development. These remarks have deeply inspired me and further strengthened my confidence in promoting the inclusive development of AI through opening-up and cooperation,” Xu Li, chairman and CEO of Shanghai-based AI software company SenseTime, told the Global Times on Friday.

Looking ahead, SenseTime aims to bring more field-tested technologies, products, and talent cultivation expertise to more countries and regions, and boost “China innovation” to deliver sustained value across a wider spectrum of industrial scenarios, thereby enabling AI to better benefit all of humanity, Xu said.

China actively supports strengthening global cooperation on AI governance, advocates multilateralism, and promotes the establishment of a global governance framework, which has received positive responses from many Global South countries.

Twenty-nine countries on Thursday signed an agreement in Shanghai on establishing the World Artificial Intelligence Cooperation Organization (WAICO). As an independent intergovernmental international organization headquartered in Shanghai, WAICO will uphold the purposes of the UN Charter, be committed to extensive consultation and joint contribution for shared benefit and adhere to a people-centered approach, according to the agreement, per Xinhua.

Global spotlight on WAIC

Since its inception in 2018, the WAIC has successfully convened for eight consecutive editions, becoming an important window for showcasing cutting-edge AI technologies from China and around the world while deepening international opening-up and cooperation.

Themed “AI Partnership for a Brighter Future”, the exhibition area exceeds 100,000 square meters for the first time this year, attracting the participation of over 1,100 enterprises. The exhibitors are showcasing more than 3,000 products and technologies, with over 300 products making their global debuts.

Among the exhibition highlights are Huawei’s latest AI computing super node system Atlas 950, MiniMax M3 multimodal foundation model, and the world’s first agentic AI phone, alongside a range of humanoid robots and AI-powered dexterous hands.

A German BMW representative, who attended WAIC for the first time, expressed enthusiasm about the event, highlighting the humanoid robotics showcased in the exhibition area – technologies he said he has never encountered before.

The representative told the Global Times that his company has adopted Chinese AI-powered large language models such as Qwen and DeepSeek. “The new updated versions of these models emerge weekly, which is very impressive,” the representative said, speaking highly of the cost efficiency of Chinese models.

However, some Western media outlets keep smearing China’s AI advancements and international cooperation. The Economist even claims that China’s open-source AI is a “trap” and that embracing China is “risky.”

Debunking this groundless smearing, Song said that China’s AI development has consistently adhered to the philosophy of a people-centered approach and AI for good, accumulating a wealth of vivid, replicable, and scalable experiences.

At the opening ceremony of the WAIC, the China Meteorological Administration unveiled the MAZU-FengYun Satellite AI Box. The launch marks a new stage in MAZU’s intelligent early-warning initiative, which was unveiled last year, shifting from providing shared meteorological products to delivering AI-enabled forecasting capabilities, according to the administration.

“Over the past year, meteorological and disaster reduction agencies from more than 40 countries have accessed the MAZU early warning technologies and products via cloud platforms. Customized versions of the tool have been deployed in Nigeria, Djibouti, Pakistan, and other nations, earning widespread recognition from users,” You Yang, a staff member with the Shanghai Meteorological Bureau, told the Global Times on Friday.

“From base models to industry-specific applications, China is opening up its low-cost, replicable technological pathways to the world, thereby lowering the threshold for underdeveloped nations to enter the AI era. Meanwhile, China actively helps developing countries address gaps in technology, talent, and governance capabilities to bridge the digital divide in the age of intelligence,” Song said.

According to a March report from Hugging Face, one of the world’s largest AI open-source communities, China has surpassed the US in monthly downloads and overall downloads. In the past year, Chinese models quickly accounted for the plurality or 41 percent of downloads.

“China possesses three unique institutional advantages in promoting AI for good and inclusive development: First, the new system for nationwide mobilization of resources coordinates development and security, achieving synergistic progress in key technological breakthroughs and rule-making. Second, a people-centered approach ensures that technological advancement benefits the people. Third, a multi-stakeholder agile and collaborative governance model links governments, universities, research institutions, enterprises, and social organizations to explore the synergy between rules and technology, providing China’s experience to the world,” Zeng Yi, a member of the UN Advisory Body on AI, told the Global Times on Friday.

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