The ninth annual World Artificial Intelligence Conference (WAIC) is underway at the Shanghai World Expo Exhibition and Convention Center, spotlighting China’s growing influence in AI technology. The four-day event, described by China’s state-run Global Times as featuring "record-breaking" participation, hosts over 1,400 guests and 1,100 companies presenting more than 3,000 exhibits.

According to WAIC’s official website, the conference is "dedicated to exploring the frontiers of AI technology and driving innovation in the field," underscoring China’s ambitions to lead global AI development with its cost-effective models gaining traction worldwide. The event follows a recent United Nations meeting in Geneva focused on AI governance, which highlighted differing approaches between the U.S. and China.

Meanwhile, South Korea’s central bank is set to hold a critical rate-setting meeting amid economic pressures. Observers expect the Bank of Korea to raise interest rates to 2.75% as inflation remains above target and semiconductor-driven growth remains robust. This monetary policy meeting also occurs amid a weakening of the South Korean won, adding complexity to the economic outlook.

China’s economy expanded by 4.6% year-on-year in the second quarter of 2026, a slowdown from 5% growth in the first quarter, reflecting a moderate deceleration in economic momentum.

Looking ahead, the Nikkei Asia Forum APAC 2026 is scheduled to take place in Bangkok, convening political and business leaders from across Asia to discuss pressing issues including energy, mobility, and AI innovation.

In related business developments, Indian lenders are experiencing leadership changes: HDFC recently appointed Rajiv Kumar as part-time non-executive chairman following the abrupt resignation of Atanu Chakraborty in March, while Kotak Mahindra’s CEO and Managing Director Ashok Vaswani announced he will leave the bank by the end of the year.

These events collectively highlight the dynamic shifts in Asia’s economic and technological landscape, with China advancing AI capabilities, South Korea adjusting monetary policy amid inflation and currency challenges, and regional forums preparing to address future growth drivers.

Sources