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Nina Xiang

Jack Ma’s Alibaba, Xinhua Unleash Robot Journalist Army On China, Raising Privacy Fears

Imagine walking your child to school, then discovering an hour later that you and your child’s image has been featured on state news simply because you happened to walk past a store that was just robbed. This type of invasive news coverage has just become reality in China thanks to a partnership between tech giant Alibaba Group and Chinese state newswires Xinhua News Agency.

China’s “Great Leap Forward” To Fight Pollution Sparks Rural Distress And Public Outcry

This winter, people in Beijing and other major cities in China noticed more blue-sky days. This was a welcome sign of progress, until news reports surfaced about rural residents suffering freezing temperatures in their homes because coal-powered heaters have been banned while natural gas heaters, which were supposed to replace coal heaters, had not yet been installed.

Chinese PE/VC Firms Achieve Record Exits In 2017, IPOs Almost Double From Year Ago

The year 2017 will be remembered as a record setter for the Chinese private equity and venture capital industry, as the number of IPO exits secured by PE/VC firms this year almost doubled from a year ago. In fact, the number of IPO exits in 2017 is equals to half of all IPO exits recorded in the six years from 2011 to 2016.

From University To Rising Star, How One Chinese AI Start-Up Aims To Make China “Smart”

Yao Song, founder of upstart Chinese artificial intelligence (AI) start-up DeePhi Tech, has a nickname: “Boss Yao”. The 25-year-old Tsinghua University graduate has been on a winning streak so far. After securing a victory at a national physics competition championship, Yao was admitted into China’s top university to study electrical engineering without having to take the university entrance exam. While at Tsinghua, he chaired a prominent student science association and organized innovation competitions on campus.

Jonathan Larsen Explains How Chinese Insurance Giant Ping An Wants To Invest $1B In Global Tech Start-Ups

For Jonathan Larsen, an 18-year Citi veteran, joining China’s Ping An Insurance (Group) Co. was like an army general being asked to lead a small, elite squad. As Global Head of Retail Banking and Mortgages at Citi, Larsen oversaw a global team of 80,000 employees. But when he joined Ping An this May as Chief Innovation Officer and CEO of the US$1 billion Ping An Global Voyager Fund, the team was just him and his assistant on his first day.

US Dollar Funds, Marginalized In China, Show Signs Of Staging A Revival

RMB denominated private equity and venture funds continue to grow in size and importance, while U.S. dollar funds have seen their role in China’s private investment markets decline. Despite new data indicating that U.S. dollar funds will be further marginalized, there are signs that a very different group of players are setting up or showing renewed interests in establishing offshore U.S. dollar funds to deploy Chinese capital globally.

KPCB’s James Huang Says High Healthcare Valuations Force Investors To Seek Early Stage Innovation

China’s healthcare sector is seeing a flood of new capital from from non-professional investors such as Chinese coal mining and factory bosses, according to James Huang, a managing partner at Kleiner Perkins Caufield & Byers (KPCB) China, who focuses on life sciences. As a result, valuations have become excessive, forcing more experienced investors to adopt new strategies to get ahead of the “dumb money.”

IDG Capital Defends Chinese Luxury E-Commerce Firm Secoo As Company Share Price Halves Post-IPO

IDG Capital’s name appeared in a curious press release today. “Secoo: IDG Capital Will Continue to Support Undervalued Secoo After Restrictions Are Lifted,” it reads. Secoo Holding Ltd, a Chinese luxury e-commerce retailer that raised around US$140 million in a NASDAQ IPO last month, has seen its share price nearly halve during the past three weeks after shares began trading on September 22. The company’s ADR closed at US$6.97 apiece on October 12, compared to its IPO price of US$13 …

China’s Meituan Dianping Said To Raise $3 Billion From Tencent, IDG Capital

Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017 Meituan Dianping, one of the largest Chinese on-demand local services providers, is said to be raising around US$3 billion from investors including its long-time backer Tencent Holdings Ltd., IDG Capital and other investors, people with close information of the matter said.

Google-Backed Mobvoi Dreams Of Powering Smart Hardware Revolution

Zhifei Li, founder of Chinese artificial intelligence firm Mobvoi, once joked in a Wechat post that the best business model for a Chinese AI company was to become an Internet celebrity via smart marketing and then pivot to become an e-commerce firm. But, he added self-deprecatingly, “because I’m not handsome enough and my Mandarin is terrible, I choose to sell premium hardware powered by our own proprietary AI technology.”

Ugly Fight Between Chinese Online Education Firms Enrages Investors

Two of China’s leading online education companies, backed by a who’s-who of top venture capital firms, are embroiled in an ugly public relations fight involving pornography, alleged hacking and threatened legal action. The episode has caused an outcry from investors and industry participants, with the latest being Baidu Inc., an investor and former parent of one company, releasing a statement with harsh words for all involved. The facts are still unclear, yet it seems certain that both firms are destined …

Will VC Craze For Cashier-Free Stores Spark Retail Revolution?

In case you haven’t heard, the next “big thing” after bike sharing has arrived. Welcome to the age of cashier-free convenience stores, the latest craze among venture capitalists in China. Since the launch of Amazon Go, the U.S. e-commerce giant’s retail store that requires no cashiers and no check-out, the concept has been quickly adopted in China and taken to a whole new level.