Chinese venture capital firm Sinovation Ventures has led a RMB100 million (US$15 million) series A round in artificial intelligence-powered fintech start-up Ahi Fintech.
In the backdrop of rapid development of the small satellite market in China, a number of new start-up companies have emerged in China’s private commercial space sector starting in 2017. S-Motor, a space start-up backed by Shenzhen Oriental Fortune Capital Co., Ltd. and HIT Robot Group, has completed the design of its first commercial rocket power system.
A draft Telecom Commercial Communication Customer Preference Regulation 2018 was proposed by the Telecom Regulatory Authority of India (TRAI) earlier this week to curb telemarketing spam via phone calls and SMS messages with the help of blockchain technology.
For the over 80,000 blockchain projects ever launched globally, only 8% are still being actively maintained and the average life span is only around 1.22 years, says an official at the China Academy of Information and Communications Technology (CAICT).
Weixing Chen, founder of Kuaidi Dache that merged with Didi to become the leading Chinese ride hailing company Didi Chuxing, is planning to launch a blockchain-based ride hailing app to rival current operators in safety and efficiency. Chen is teaming up with Yang Jun, a co-founder of Chinese on-demand local services firm Meituan, to launch the product. The ultimate aim is to create a platform that offers life-style services encompassing ride hailing, deliveries and others.
China’s Ministry of Industry and Information Technology expects that after robust growth in the country’s blockchain industry, 2018 will prove to be another blockbuster year for the sector with record amount of capital injected into blockchain, according to an industry report published by the ministry today.
Alibaba Group Holding Limited (NYSE: BABA), Chinese artificial intelligence company SenseTime and Hong Kong Science and Technology Parks Corporation (HKSTP) have launched The HKAI Lab, a not-for-profit initiative with the aim to support innovation in the field of AI in Hong Kong.
The Research Center for Blockchain of Tsinghua University’s Fintech Institute was unveiled over the weekend. The research center was jointly established with donations from Chinese venture capital firm Gaorong Capital, Tencent Holdings Ltd., and other entities.
A global public blockchain ranking published by China’s Ministry of Industry and Information Technology found Ethereum as the top public blockchain. Bitcoin, the most mainstream cryptocurrency with the highest market capitalization, was ranked 13th in this report.
The South Korean government reportedly plans to soften its cryptocurrency regulations in line with the policies set by the G20 nations in an effort to create “unified regulations.” The Korean regulators have also agreed to apply the standards set by the Financial Action Task Force to its own cryptocurrency policies, local media reported.
Jack Ma, the billionaire founder of Chinese tech giant Alibaba Group Holding Ltd., said that Bitcoin is a bubble, while blockchain is not.
Sheng Songcheng, a counselor to People’s Bank of China who has served at the Chinese central bank for over 20 years, said that blockchain technology should stay away from finance as much as possible.
CME Group, the Chicago-based derivatives marketplace, has teamed up with London-based cryptocurrency trading platform Crypto Facilities Ltd to launch the CME CF Ether-Dollar Reference Rate. It will provide a daily benchmark price in U.S. dollars at 4pm London time. The pair is also launching CME CF Ether-Dollar Real Time Index, which will allow users access to a real-time Ether price in U.S. dollars.
Tencent Holdings’ WeChat app has reportedly removed the first blockchain-based mini-program from its mobile app, because the mini-program operates in areas that is not available on the platform currently, according to screenshots circulating on the Internet today.
Logistics, government and the medical industry are the areas believed to be the most likely to create value via adopting blockchain technology, according to a survey jointly released by PwC and VeChain, a Chinese cloud-based blockchain platform facilitating financial services, supply chain management and smart contracts.
China’s second largest Bitcoin mining machine manufacturer Canaan Inc is planning an IPO in Hong Kong. If successfully listed, it would become the first blockchain company listed on the Hong Kong Stock Exchange, according to people with knowledge of the matter.
China has begun to establish a national standard for blockchain to promote the building of a blockchain standard system from the top-level, and it is expected that the new system will be completed by the end of 2019, according to Chinese state media reports.
Chinese tech company SenseTime has joined with the Massachusetts Institute of Technology ("MIT") in an "alliance" to promote understanding and application of artificial intelligence.
Hong Kong-based real estate investment firm Gaw Capital Partners said it has completed a deal to acquire a retail portfolio comprising 17 shopping centers in Hong Kong via one of its funds and consortium partners including Goldman Sachs.
Chinese tech giant Baidu Inc. has revealed operating details for its online-video unit iQiyi, Inc. ahead of an upcoming US$1.5 billion initial public offering on the Nasdaq.
China Great Wall Asset Management Co., Ltd., one of four central government-level financial firms tasked with managing Chinese bad loans, reported that the company realized a net profit of RMB10.6 billion (US$1.7 billion) in 2017, up 18.54% year-on-year.
Chinese billionaire Cai Wensheng, founder of photo touch-up app and smartphone maker Meitu and a well-known angel investor, said in a recent online chat group that he believes blockchain is the biggest bubble the world has ever seen, and missing it would be the biggest mistake anyone can make.
Didi Chuxing launched its car sharing platform today, as it continues to expand from its core ride sharing business to new sectors including bus sharing, bike sharing, car rental, online car sales and after-sales services.
China Money AI is our news writing robot. These articles are edited by humans Tencent has invested over RMB100 billion (US$16 billion) in more than 600 companies during the past six years to build an empire worth over US$500 billion, making it the sixth biggest company in the world. Now the Chinese social networking and gaming giant is eyeing the next battlefield it plans to win: the core retail business of its arch rival Alibaba Group.
China Money AI is our news writing robot. These articles are edited by humans In recent years, Li Jiacheng, a young businessman in Fujian, has been doing business in Myanmar and Africa. As Bitcoin prices skyrocketed, a new project entered his horizons: Myanmar has a hydropower station near the border with Yunnan province in China that has cheap power to supply bitcoin mining.
On January 30, at China Renaissance Group’s 2018 New Year Media Communication Conference, Bao Fan, founder and CEO of China Renaissance Group, shared his views on the 2017 capital markets, blockchain and market competition. Below is an edited summary of his speech that originally appeared on Touzirenshuo’s Wechat channel. China Money Network is authorized to republish the post. It felt like 2017 went especially fast, in the blink of an eye. Indeed, 2017 was a triumphant year for our industry. …