China Tech Digest: Ant Group Reportedly Increasing IPO Size To $35 Billion

Ant Group reportedly will raise its IPO financing target to US$35 billion

According to people familiar with the matter, Ant Group will raise its IPO financing target to US$35 billion U.S. dollars and up its valuation from US$225 billion to US$250 billion U.S. dollars.

ByteDance released an explanation for several false rumors about TikTok

In response to some rumors about the existence of the three-party cooperation between Bytedance, Oracle, and Wal-Mart, Bytedance issued a statement stating that TikTok Global is a 100% owned subsidiary of Bytedance and headquartered in the United States; TikTok Global plans to launch a round A small percentage of Pre-IPO financing. After financing, TikTok Global will become an 80% subsidiary of Bytedance; the current plan does not involve the transfer of any algorithms and technologies; Oracle has authority to do security checks on the source code of TikTok.

Tencent: US ban does not affect existing WeChat users in the US

Tencent issued an announcement stating that it had noticed the ban on WeChat issued by the US Department of Commerce on September 17, which took effect on September 20.

The announcement discloses that the ban imposes restrictions and prohibitions on the use of WeChat in the United States, including prohibiting the publication or maintenance of WeChat applications through online mobile application stores in the United States, and the provision of related technical services to run or optimize WeChat, such as content push services, Internet hosting, and peer-to-peer service.

Tencent stated that after the ban takes effect, it may have the following impacts on WeChat: existing users may continue to use WeChat for communication; may not be able to acquire new users in the United States, and existing U.S. users updating WeChat may also be negatively affected; services provided through WeChat The quality may be negatively affected.Tencent will further evaluate the impact of the ban, and will continue to negotiate with the US government and other US stakeholders to seek long-term solutions. officially released the cross-border SaaS product "MyyShop"

On September 21, 2020, the B2B cross-border e-commerce platform held a press conference in Beijing and officially launched a new cross-border SaaS product "MyyShop" to jointly build a new ecology of global trade decentralization.

Wang Shutong, founder and CEO of, said: "MyyShop connects a strong Chinese supply chain with global private domain traffic monetizers to help overseas local distributors and serve overseas local consumers."

The People’s Bank of China Digital Currency Research Institute and JD Digital Technology reached a strategic cooperation

Recently, the People’s Bank of China Digital Currency Research Institute and JD Digital Technology officially reached a strategic cooperation. Based on the digital RMB project, the two parties will jointly promote the development and construction of mobile basic technology platforms and blockchain technology platforms; combined with JD Group Existing scenarios, jointly promote the innovation of mobile application functions of digital renminbi and the landing application of online and offline scenarios, and promote the ecological construction of digital renminbi wallets.

Green Tree Hotel Group and Tencent Game reach cooperation

Green Tree Hotel Group and Tencent Game recently reached a cooperation to explore the "hotel + game" cross-border marketing model. The two parties will cooperate in areas such as merchant privileges, IP authorization, and gaming activities. At present, Green Tree’s "Green East", "Gemei", "Green Tree", "Green Tree", "Gemeng" and "Shell Hotel" have successively connected to Tencent Game.

360 Group reached cooperation with Qingdao Municipal People’s Government

China’s 360 Group and Qingdao Municipal People’s Government have reached a cooperation, and the two parties will cooperate in the fields of industrial Internet, information security, smart cities, and new infrastructure. Specifically, Qingdao City will land on the Industrial Internet Security Brain; 360 Group will work with Qingdao Public Security Bureau to jointly build "Smart Public Security"; 360 Group will cooperate with Qingdao State-owned Huatong Group in capital, industry and technology.

Ministry of Industry and Information Technology: The number of 4G users is 1.29 billion

The Ministry of Industry and Information Technology released the economic operation of the communications industry from January to August 2020. Among them, the scale of mobile phone users remained stable, and 4G users continued to increase.

As of the end of August, the total number of mobile phone users of the three basic telecommunications companies reached 1.598 billion, a year-on-year increase of 0.2%.

Among them, the number of 4G users was 1.29 billion, a year-on-year increase of 2.6%, a net increase of 8.092 million from the end of the previous year, accounting for 80.7% of the total number of mobile phone users, an increase of 0.1 percentage point from January to July.

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