A catastrophic fire erupted at Hong Kong's Wang Fuk Court on November 26, 2025, ignited by bamboo scaffolding during renovations, rapidly spreading and claiming over 120 lives with hundreds missing. Negligence led to arrests of construction executives, sparking scrutiny of safety protocols and calls for systemic reforms in urban construction.
Beijing has reportedly mandated tech giants like ByteDance to stop purchasing Nvidia chips for new data centers, pivoting to Huawei and Cambricon. This aggressive move aims to cut U.S. dependency by 50% by 2026, threatening to fragment global AI development while supercharging China's $200 billion domestic semiconductor sector.
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