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Yimian Wu

US Lawmakers Introduce Bill Restricting Foreign Investment In Critical Tech Sectors

President Donald Trump may be in China trying to drum up Chinese investment in the U.S. But back in Washington, lawmakers have unveiled a new set of proposed laws designed to limit Chinese investment in U.S. companies, especially in critical high tech sectors such as artificial intelligence, robotics and aerospace. On Wednesday, U.S. Senator John Cornyn of Texas and Representative Robert Pittenger of North Carolina, together with other bipartisan lawmakers, introduced a new bill called the Foreign Investment Risk Review Modernization …

Andrew Brown: China Committed To Market-Based Solution To Excess Debt Challenge

China Money Network’s Special Situations Team brings you the first of our new “Industry Specialist” series, sitting down with Andrew Brown, partner for Macro and Strategy at ShoreVest Capital Partners, Ltd. Hong Kong to seek his opinions on the growth of China’s distressed debt market and the rewards and risks it offers investors in the region. ShoreVest Partners is an institutional private investment firm specializing in Chinese distressed debt and structured credit. The ShoreVest team has managed US$1.6 billion of distressed …

Airbnb Co-Founder Says China Will Be Largest Source of Business By 2020

Chinese tourism will be Airbnb Inc.’s largest source of business by 2020, predicts Nathan Blecharczyk, Airbnbn’s co-founder, who was recently named chairman of Airbnb China, also known as Aibiying, following the departure of Hong Ge. To meet this growth, Airbnb will expand its presence in China by providing more local services and increasing local hiring and projects.  

China News App Toutiao Said Seeking To Buy Insurance Broker

Chinese news app Toutiao appears to be the latest Chinese media platform looking to get into financial technology. According to local news reports, the five-year-old company with a valuation estimated at US$20 billion is looking to acquire an insurance broker in China to break into the insurance business, but without having go through the time consuming process of obtaining an insurance license. 

China Artificial Intelligence Firm iFlytek Plans $150M Fund To Support Startups

Chinese artificial intelligence company, iFlytek Co Ltd., best known for its voice-recognition technology, will set up a RMB1.024 billion (US$150 million) fund to support an ecosystem of software and hardware startups across China. The move is part of the company’s push to accelerate the use of AI in consumer electronics, healthcare and other industries. The announcement, made at the company’s first Developer Festival at its Hefei headquarter on October 24, and confirmed via email to China Money Network, comes after …

China Internet Giant Tencent Leads $40M Round In Canadian Online Storytelling Platform Wattpad

Tencent Holdings Ltd. has led a US$40 million round in Toronto-based storytelling platform Wattpad, as the Chinese social media and gaming giant continues aggressively investing in start-ups around the world that can provide fresh content for its various mobile apps such as Wechat. Founded in 2006 by Allen Lau and Ivan Yuen, Wattpad allows users to post stories via its website or mobile app and interact with readers through comments. The platform has a monthly audience of over 60 million …

Xi Jinping Speech Likely To Extend China’s Technology Exuberance For Many More Years

For the Chinese technology and venture capital community, Chinese President Xi Jinping’s speech opening the 19th congress of the Chinese communist party was everything it hoped for. The key words “artificial intelligence”, “big data” and “innovation” were highlighted and emphasized repeatedly in the otherwise laborious three-hour address.

As Trump Blocks Deal, Chinese Investors Seek Smaller, Earlier Stage Deals Outside US

Chinese investors overseas just can’t seem to get a break. First, the Chinese government strengthened its grip on overseas deals to slow capital outflows. Now, the U.S. government under president Donald Trump appears more protectionist than ever, blocking a growing list of Chinese investments in the U.S. in the name of protecting American business and security interests.

Alibaba Launches $15B Global R&D Program To Rival Amazon in Tech Innovation

In a bid to establish itself as a leading player in global technology innovation, Chinese Internet giant Alibaba Group Holding Ltd., today announced plans to spend up to US$15 billion on research and development, establish seven research labs and recruit 100 top scientist worldwide over a three-year period.