China Tech Digest: Zhang Yiming Steps Down As CEO Of ByteDance; Hanshow And Microsoft (China) Reached Strategic Cooperation

Zhang Yiming steps down as CEO of ByteDance and will focus on long-term strategy

On May 20th, Zhang Yiming, the founder of ByteDance, issued an internal letter to all employees, announcing that he would step down as CEO. Liang Rubo, co-founder of ByteDance, will take over as the new CEO. Zhang Yiming decided to put aside the company’s daily management and focus on long-term issues such as long-term strategy, corporate culture and social responsibility. He plans to "focus on learning knowledge, systematic thinking, researching new things, hands-on trials and experiences, and creating more opportunities for the company over a ten-year period".

TuSimple’s driverless trucks shorten the 24-hour journey to 14 hours

Autonomous trucking company TuSimple said on Wednesday that its trucks have shortened work that would otherwise be completed in 24 hours by 10 hours.

Hanshow and Microsoft (China) reached a strategic cooperation

Today, Hanshow announced the establishment of a strategic partnership with Microsoft (China) to promote its global layout and digital strategy in the retail industry. According to the agreement, Hanshow will use Microsoft’s cloud products to build its internal information management platform. Microsoft China will provide its machine learning, IoT and other technologies to help Hanshow enhance its technological competitiveness to create solutions based on cloud services.

QCraft applies self-supervised learning to the self-driving perception module

Recently, Chinese autonomous driving company QCraft announced its latest R&D result in autonomous driving technology-applying self-supervised learning to the self-driving perception module. It allows autonomous vehicles to better understand the movement state of traffic participants without the need to label data. This research result is the world’s first learning paradigm that can perform lidar point motion prediction under a fully self-supervised framework, and has been included in the world’s top computer vision conference CVPR 2021.

Jianjia Robot raises hundreds of millions of RMB in series C round financing

Recently, Hangzhou-based Jianjia Robot announced the completion of a Series C round financing of hundreds of millions of RMB, led by LYFE Capital, participated from SBCVC and existing investors GL Ventures, Fosun Pharma. Jianjia Robot is a Chinese arthroplastic surgical robot developer, focusing on providing accurate joint replacement solutions, covering the entire process of "preoperative, intraoperative, and postoperative".

Zhou Xiaochuan talks about digital RMB: Don’t link digital RMB with RMB internationalization too much

Zhou Xiaochuan, vice chairman of Boao Forum for Asia, said that instead of linking the digital RMB development plan with RMB internationalization too much, more attention should be paid to the efficiency improvement of retail and recurrent items. He believes that if the digital RMB technology update in China’s retail sector can achieve significant advance, it will be beneficial for cross-border micro recurring payments and will also make a certain contribution to RMB internationalization. But It is not in the sense of a reserve currency, nor is it the RMB internationalization in the concept of large-value transactions in the financial market.

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