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US-China tensions

China's iFlytek exec says U.S. sanctions have 'destroyed' market mechanism

AI leader invests in Hong Kong hub and seeks to expand presence in Japan

iFlytek, a U.S.-sanctioned leader in China's AI industry, presents its products at this year's Hong Kong book fair. (Photo by Kenji Kawase)

HONG KONG -- A senior executive at iFlytek, China's leading artificial intelligence developer, says U.S. sanctions have "destroyed" the market mechanism that had benefited the company and country alike.

Duan Dawei, who doubles as senior vice president and chief financial officer of the AI company, told Nikkei Asia that Washington's sanctions have also "artificially dismembered global collaborations" that had been enabled by decades of globalization.

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