China Tech Digest: ByteDance Invests In Autonomous Driving Startup And Is Developing A "ClubHouse" App For China

ByteDance is reportedly investing in autonomous driving startup QCraft, and plans a product similar to ClobHouse.

ByteDance is investing in local autonomous driving startup QCraft, according to people familiar with the matter. QCraft’s latest fundraising round is worth at least $25 million and its technology is being trialed in minibuses in parts of China.

At the same time, ByteDance is developing a Chinese market product that is similar to Clubhouse, a popular voice social media app.

Huobi will issue three crypto asset funds

The Hong Kong Securities Regulatory Commission is accelerating the pace of the issuance of active investment strategy digital asset investment funds. Huobi Asset Management has been approved to issue 100% digital asset fund and will issue three crypto asset funds.

Chinese tech company’s R&D spending ranked, Alibaba first and Tencent second

Chinese companies’ research and development investment in the first two quarters of 2020 years were ranked, and Alibaba had 32.8 billion and ranked first, Tencent had 17.9 billion and ranked second. Baidu,, Meituan, and Pinduoduo each had 9.3 billion, 6.9 billion, 4.7 billion and 3.1 billion, respectively.

Chip shortage is spreading as many mobile phone makers seek market share breakthroughs

Today, RealMe China President Xu Qi said that the shortage of mobile phone chips is multi-directioned and is spreading. It is currently experiencing the shortage of high-end chips, and it has always been planning for chip demand in advance.

Vice President of Meizu also said that it is actively stocking up for its flagship products. A number of third-party institutions predict that the shortage of chips will run through 2021, due to the time of production of capacity. The problem of imbalance in supply and demand may continue until next year.

Domestic large aircraft AG600 completes the fire fighting task system for the first research test flight

The 001 machine of the domestic large-scale water and land amphibious aircraft AG600 has completed land, water and sea testing. On March 4th, it completed a fire fighting task system in Jingmen, Hubei, China.

At present, the AG600 aircraft has fully enters the water supply function verification phase and will complete the water extinguishing test in the year.

Mixed reality technology company NREAL raised B2 financing

Mixing Reality (MR) Technology Company NREAL announced completing B2 round financing, and the investor is the CICC Capital. This round of financing will be used in sustained research and development, large production scale and accelerate global commercialization.

ASML says SMIC agreement relates only to DUV lithography

ASML made it clear that SMIC had disclosed a batch purchase agreement with ASML in accordance with the Hong Kong listing rules. It is related to the existing agreement of DUV lithography, which is signed on January 1, 2018 and would initially last until December 31, 2020, and has been extended to the end of December 2021. It has nothing to do with EUV, the more advanced lithography equipment used to make highly advanced chips.

China’s civilian manned airship AS700 is expected to achieve the first flight within the year

China Aviation Industry Group Co., Ltd. said that the civil manned airship AS700 developed by the aviation industry’s air industry special flying institute is expected to be realized in the second half of 2021.

According to Zhang Jinhua, senior director of aviation industry special flight, AS700 manned airship adopts a single driving system, and 9 people with a maximum passenger. It has conventional single capsule layout, streamline airbag shape, "X" type layout hard tail, unable to put a single-point landing gear. Maximum voyage is 700 km, maximum flight of 10 hours.

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