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CGTN: China vows to make AI a driver for shared prosperity amid widening AI divide

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SHANGHAI, July 17, 2026 /PRNewswire/ — As Pakistan enters its annual monsoon season, accurate forecasts are crucial to protecting lives and livelihoods. Powered by artificial intelligence, China’s MAZU meteorological system is helping Pakistan detect early warning signs and issue faster alerts for potential extreme weather events.

“Using this platform, we can make more accurate predictions of floods, droughts and other extreme weather events,” said Furrukh Bashir, head of the Research and Development Department at the Pakistan Meteorological Department. “We look forward to seeing more products like this that can benefit people around the world.”

Deployed in multiple countries, the system shows how AI can help address global challenges. Through open-source models, technology cooperation and international initiatives, China is working to make AI more accessible and ensure its benefits reach more people worldwide.

At the opening ceremony of the 2026 World Artificial Intelligence Conference and High-Level Meeting on Global AI Governance in Shanghai on Friday, Chinese President Xi Jinping called on countries to uphold a people-centered approach and work together to build a fair and inclusive global AI governance system.

“China, as a responsible major country, is always committed to providing international public goods relating to AI,” Xi said.

Making AI a shared opportunity through openness

At the conference, Xi announced a series of measures to support global AI development, including helping 30 countries utilize the MAZU meteorological system, providing 5,000 AI training opportunities for developing countries over the next five years, and establishing international AI application cooperation centers with ASEAN, the League of Arab States, the African Union, the Community of Latin American and Caribbean States, the Shanghai Cooperation Organization and BRICS.

China has also embraced open-source development to promote more inclusive global AI growth.

Chinese models such as DeepSeek and Alibaba’s Qwen have gained global attention for their high efficiency, affordability and openness, enabling developers and businesses to adapt AI technologies at lower costs. Official data shows that China’s open-source AI models have recently surpassed 10 billion cumulative downloads worldwide.

In Africa, for example, DeepSeek’s open-source approach allows developers to freely download and fine-tune AI systems, helping strengthen local digital capabilities and foster homegrown innovation across the continent.

The approach has also significantly lowered costs. With pricing of just $0.27 per million input tokens and $1.10 per million output tokens, DeepSeek has reduced the entry barriers by more than 90% compared with some mainstream Western AI models, enabling more African users and businesses to participate in the digital transformation.

“China, as a developing country, understands the aspirations of many Global South countries for economic development and technological progress,” said Zhang Weiwei, deputy director of the Institute for World Peace and Security Studies at the China Institute of International Studies.

Zhang said that China’s open-source AI models enable countries to develop applications faster and at lower costs, allowing more developing nations to benefit from technological advancement.

Promoting global cooperation to bridge the AI divide

With AI technologies’ rapid development, global AI divide is widening. The World Bank’s Digital Progress and Trends Report 2025 highlighted significant gaps between high-income and middle- and low-income countries in AI systems and computing capacity. Meanwhile, global data center resources remain highly concentrated in developed economies, with Africa accounting for less than 1% of global capacity.

To address these widening gaps, Xi called on countries to help developing nations enhance AI capabilities, bridge the digital divide and build a globally accepted governance framework to ensure that emerging technologies benefit humanity as a whole.

China has long advocated for a fair and inclusive global AI governance system. In 2023, it proposed the Global AI Governance Initiative, followed by the AI Capacity-Building Action Plan for Good and for All in 2024 and the AI+ International Cooperation Initiative in 2025. These efforts aim to promote responsible AI development and help bridge the digital divide.

China has also worked to create platforms for international cooperation. It launched the Center for Global AI Innovative Governance (CGAIG) and the Group of Friends for International Cooperation on AI Capacity Building, bringing together countries to strengthen dialogue, share knowledge and enhance capacity building.

The signing of the agreement establishing the World Artificial Intelligence Cooperation Organization in Shanghai on Thursday marked another step toward advancing global AI cooperation and promoting the safe, equitable and beneficial development of artificial intelligence.

From open-source models and AI training programs to global governance initiatives, China is working to make artificial intelligence a shared driver of innovation and development, ensuring that the benefits of this transformative technology, once enjoyed by only a few, reach more countries and communities.

https://news.cgtn.com/news/2026-07-17/China-vows-to-make-AI-a-driver-for-shared-prosperity-amid-AI-gap-1OQR3INoGdy/p.html

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CommerceWest Bank Ranked Among the Top 15 Best-Performing Public Banks in America

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July 17, 2026

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American Banker Recognizes CommerceWest Bank as One of the Nation’s Top Performing Public Banks Under $2 Billion in Assets

IRVINE, Calif., July 17, 2026 /PRNewswire/ — CommerceWest Bank (OTCQX: CWBK), a premier commercial bank serving businesses throughout California, today announced it has been ranked #15 in the United States on American Banker’s 2025 Top Performing Public Banks Under $2 Billion in Assets list.

The annual ranking, developed in partnership with Capital Performance Group, evaluates publicly traded banks using objective financial performance metrics including three-year average return on average equity (ROAE), profitability, operating efficiency, net interest margin, capital strength, and core deposit growth.

“This recognition is a testament to our exceptional employees, loyal clients, dedicated Board of Directors, and shareholders who have supported our long-term vision,” said Mr. Ivo Tjan, Chairman, President & Chief Executive Officer of CommerceWest Bank. “For more than two decades, our strategy has remained consistent: build long-term relationships, deliver exceptional client service, operate with financial discipline, and continually invest in our people and technology. We are honored that these efforts have resulted in CommerceWest Bank being recognized as one of the top-performing public banks in the nation.”

CommerceWest Bank continues to distinguish itself through its relationship-focused approach to commercial banking by providing customized banking, lending, treasury management, and cash management solutions for privately owned businesses, entrepreneurs, professionals, and growing companies throughout California.

The recognition follows another year of strong financial performance highlighted by continued growth in loans, deposits, earnings, and shareholder value while maintaining excellent asset quality, capital ratios, and operating efficiency.

“Our mission has never been to become the biggest bank,” added Mr. Tjan. “Our mission is to become the best banking partner for our clients. When we help our clients grow and succeed, our shareholders, employees, and communities all benefit.”

The latest recognition adds to CommerceWest Bank’s growing list of national and regional honors, including recognition as one of Newsweek’s America’s Best Regional Banks, one of American Banker’s Top Performing Banks, Super Premier Performing Bank by The Findley Report and multiple recognitions by the Orange County Business Journal.

About CommerceWest Bank
CommerceWest Bank is determined to redefine banking for small and medium sized businesses by delivering customized products and services to each client’s needs. Founded in 2001 and headquartered in Irvine, California, the Bank serves businesses throughout the state of California with our robust digital banking platform.

By employing a strategically selected team of experienced professionals, we will provide flexibility, and create a complete, safe and sound banking experience for each client. We provide a full suite of commercial banking services, including remote deposit solutions, NetBanker online banking, mobile banking, lines of credit, M&A and working capital financing, commercial real estate loans, SBA lending and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank.  “BANK ON THE DIFFERENCE”

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SOURCE CommerceWest Bank

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MDT Introduces TMR1370 Ultra-Low-Power Magnetic Switch IC Enabling More Than Two Years of Standby Operation in CGM Devices

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July 17, 2026

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— Next-Generation TMR Magnetic Switch with Ultra-Low 50nA Maximum Supply Current Expands MDT’s Proven CGM Sensor Portfolio

ZHANGJIAGANG, China, July 17, 2026 /PRNewswire/ — MultiDimension Technology Co., Ltd. (MDT), a leading supplier of magnetic sensors and a pioneer in Tunneling Magnetoresistance (TMR) technology, today introduced the TMR1370 ultra-low-power magnetic switch IC, the newest addition to MDT’s magnetic sensing portfolio for continuous glucose monitoring (CGM) devices. Building on the proven TMR1367, TMR1368, and TMR1369 family, the TMR1370 delivers significantly lower power consumption, enhanced voltage compatibility, and a smaller package to enable next-generation CGM systems with ultra-long standby life.

Optimized for battery-powered CGM devices, the TMR1370 features a maximum supply current of only 50nA, with approximately 30nA typical at a 3V supply. When combined with the magnetic wake-up mechanism widely adopted in CGM devices, the TMR1370 enables more than two years of standby operation, helping extend product shelf life while preserving battery capacity for continuous glucose monitoring after activation.

The TMR1370’s exceptional power efficiency is enabled by MDT’s proprietary TMR technology platform, which combines advanced magnetic sensor design, optimized device architecture, and proprietary wafer process technology to achieve high magnetic sensitivity together with ultra-low power consumption. Complementing MDT’s existing X-axis and Z-axis CGM magnetic switch portfolio, the TMR1370 gives system designers greater flexibility to optimize sensor orientation and mechanical layout for a wide variety of CGM architectures while enabling easy migration from previous-generation devices.

Key Features

Enables more than two years of standby operation in battery-powered CGM devices.50nA maximum supply current, approximately 30nA typical at 3V.Wide 1.8V to 4.0V operating-voltage range.Maximum operating point below 40 Gauss for reliable magnetic wake-up detection.X-axis magnetic sensing optimized for compact CGM designs.Miniature DFN5L package (1.6×1.6×0.5mm) for thinner and lighter wearable medical devices.Complements MDT’s proven X-axis and Z-axis CGM magnetic switch portfolio for flexible system design and simplified migration.

Samples of the TMR1370 are available through DigiKey and MDT’s online store at www.tmr-sensors.com. For volume pricing, delivery information, and technical specifications, contact MDT Global Sales at sales@dowayusa.com.

About MDT
MultiDimension Technology was founded in 2010 in Zhangjiagang, Jiangsu Province, China, with branch offices in Shenzhen, Chengdu, and Ningbo in China, Singapore, Tokyo, Japan, and San Jose, Calif., USA. MDT has developed a unique intellectual property portfolio, and its self-owned state-of-the-art TMR manufacturing facilities that can support volume production of high-performance, low-cost TMR magnetic sensors to satisfy the most demanding application needs. Led by its core management team of elite experts and veterans in magnetic sensor technology and engineering services, MDT is committed to creating added value for its customers and ensuring their success. For more information about MDT please visit http://www.multidimensiontech.com.

Media Contacts
MDT sales department, sales@dowayusa.com, sales@dowaytech.com
Tel: +1-650-275-2318 (US), +86-189-3612-1156 (China)

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SOURCE MultiDimension Technology Co., Ltd.

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Fintech Disruptor StockFan Wins Bronze Globee® Award After Exploding Into 62 Countries in Year One

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July 17, 2026

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Silicon Valley-based fintech startup shares the global spotlight with tech titans IBM, Uber, and JPMorgan Chase in the 2026 winner’s circle.

SAN FRANCISCO, July 17, 2026 /PRNewswire/ — StockFan, Inc., the hyper-growth Silicon Valley fintech platform revolutionizing how investors worldwide interact with public markets, has been named a Bronze Winner in the prestigious Annual Globee® Awards. This major accolade celebrates StockFan’s product excellence and breakout growth velocity, having scaled its global footprint to 62 countries in its very first year of operation.

The Globee® Awards honor the world’s premier organizations pushing the boundaries of technology, business, and innovation. By securing this win, StockFan steps onto the global podium alongside some of the world’s most influential enterprise giants, including IBM, Uber, Lenovo, Broadcom, ADP, and JPMorgan Chase.

StockFan is shattering the status quo by bridging the gap between fragmented financial tools and modern investor communities. Built for today’s fast-moving retail and institutional investors, the powerhouse application seamlessly integrates everything an investor needs under a single digital roof: real-time quotes, dynamic charts, breaking financial news, earnings calls, insider trades, institutional tracking, and elite stock screeners. Paired with its next-generation social architecture, stock enthusiasts worldwide can instantly form private groups, sync investment ideas, and communicate in real time.

“We are incredibly honored to stand on the Globee® Awards podium alongside world-renowned market leaders and the very innovators we have long admired,” said Henry Sun, Founder and CEO of StockFan. “When we built StockFan, our mission was to unlock a borderless, unified ecosystem for all public market participants. Expanding to over 60 countries in our debut year is a massive milestone, and this award validates our team’s obsession with engineering a world-class, globally scalable financial product.”

StockFan is on track of accelerating its exciting product roadmap—primed to deploy deeper community features, advanced enterprise tools, and massive mainstream adoption across the global financial landscape.

Experience the future of investing today, and download the StockFan app on the Apple App Store or Google Play.

About StockFan, Inc.

Based in San Francisco, California, StockFan is the ultimate fintech platform designed to connect, empower, and elevate the global investor community. By fusing robust stock market data with a cutting-edge social ecosystem, StockFan unites fragmented financial market tools into a cohesive public market powerhouse. In its freshman year alone, StockFan organically scaled to over 60 countries, serving a passionate user base of both retail and institutional investors.

About the Globee Awards

Globee Awards are conferred in several programs and categories. Honoring organizations of all types and sizes and the people behind them, the Globee Awards recognize outstanding achievements and performances in businesses worldwide. Learn more at the official Globee Awards Website.

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SOURCE StockFan, Inc.

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