Alibaba Group Holding has acquired 100% of Hangzhou C-SKY Microsystems Co., Ltd., an integrated circuit design house, in a move to expand the tech giant’s chip development capabilities, according to local Chinese media.
Huawei Receives Approval To Sell 5G Products In Europe
After experiencing a series setbacks in the U.S., Huawei Technologies Co., Ltd. has turned to Europe for overseas growth. The tech giant has announced that its 5G products have passed verification requirements to legally enter the European Union market.
ZTE Claims US Ban On Technology Exports "Endangers Its Survival"
Chinese telecom equipment maker ZTE Corp said the U.S. ban on technology exports to the firm is unfair and will "endanger its survival."
Macau Cryptocurrency Warning After Reported Gangster Connection
The Monetary Authority of Macau has issued a notice warning about cryptocurrency risks after U.S. media reported that Macau Dragon Group, a cryptocurrency company associated with a reputed gangster, has a business relationship with Cambridge Analytica, the British data firm that leaked personal information of more than 87 million Facebook users.
Alibaba Taps Rural Growth With $717M Investment in Huitongda Network
China’s e-commerce giant Alibaba Group Holding will invest RMB4.5 billion (US$717.2 million) in Huitongda Network Co., an e-commerce platform serving rural consumers, in a bid to expand its sales outside major cities.
Tencent Said Investing $100M In Indian Fantasy Sports Platform Dream11
Social media giant Tencent Holdings is in advanced negotiations to invest US$100 million in Mumbai-based online fantasy sports platform Dream11, according to Indian media.
Fintech Start-up 100Credit Gets $159M From State-owned China Reform Fund
China Reform Fund Management Co.,Ltd, a private equity firm backed by China Reform Holdings Corporation Ltd and other central state-owned enterprises, has led a RMB1 billion (US$159 million) series C round in 100Credit, a fintech start-up that uses big data to provide credit services.
China’s Shopping Spree For UK Healthcare Assets Continues With DNAFit Deal
Alibaba-backed genetic testing and digital health company Prenetics has acquired UK-based consumer genetic testing firm DNAFit, the latest in a series of Chinese investments in U.K healthcare assets.
China Calls For Semiconductor Self Reliance Amid ZTE Import Ban
The U.S. ban on companies selling equipment to Chinese telecom company ZTE Corp set off a flurry of protests in China’s state-backed media today, with calls from both editors and business leaders for China to accelerate its ongoing campaign to gain independence in key technology, especially semiconductors.
Morgan Stanley, Crescent Point Invest In Long-term Apartment Rental Firm QingKe
Morgan Stanley Private Equity Asia and private equity fund Crescent Point have led a series C round in Shanghai-based long-term apartment rental provider QingKe.
China’s $20B News Leader Toutiao Under Siege By Government and Rivals
Watching a stern Mark Zuckerberg testify before the U.S. Congress is a reminder how China’s tech companies, despite differences in economic structure and technological sophistication, follow similar trajectories with their American counterparts. Toutiao, China’s biggest personalized news app with a US$20 billion valuation, is experiencing a similar crisis these days as government and competitors attack its core business model.
China Tops World Electric Car Sales For Third Straight Year
China’s new energy car sales have topped the world for the third consecutive year, with 777,000 such cars sold in 2017, representing 54.7% of the world’s total sales, according to a report by state-owned media People.cn .
Beijing Opens Six Industries To Foreign Investment Amid US-China Trade Tensions
The Beijing city government has issued a notice to further relax restrictions on foreign investment in six key sectors, including science and technology, Internet and information, cultural and educational, financial services, business and tourism services and health care.
Spain’s BBVA Invests $50M In Sinovation Ventures $500M AI Fund
Sinovation Ventures, a Chinese VC firm co-founded by Kai-Fu Lee, former head of Google China, has received an investment tranche of US$50 million from Spanish bank Banco Bilbao Vizcaya Argentaria, S.A., or BBVA, for its new US$500 million fund targetting artificial intelligence start-ups.
Qiming Venture Partners Announces Closing Of Three New Funds Totaling $1.4B
Chinese venture capital firm Qiming Venture Partners has announced the closing of three new funds totaling US$1.39 billion.
Chinese Big Data Firm MiningLamp Gets $159M C Round From Tencent, China Renaissance
Tencent Holdings’ investment fund and Chinese investment banking and asset management firm China Renaissance have led a RMB1 billion (US$159.2 million) series C round in Chinese big data firm MiningLamp, according to China Renaissance’s official WeChat account.
Tencent, Baidu Invest $98M In Chinese News Platform Pear Video
China’s social media giant Tencent Holdings has led a RMB617 million (US$98.2 million) series A round in Chinese video news platform Pear Video. It marks the latest in a series of recent investments in the video space by Tencent.
Alibaba Accelerates Autonomous Driving Research, Following In Footsteps Of Baidu And Tencent
Alibaba Group Holding Ltd. is accelerating its research and development of autonomous driving technology, and is looking to recruit more than 50 people to build up its team, people familiar with the matters told China Money Network.
Alibaba, Face++ Lead $56M Round In Chinese AI Video Technology Firm Video++
China’s largest retailer Alibaba Group Holding and artificial intelligence-powered facial recognition firm Face++ have led a RMB349 million (US$55.6 million) round in Chinese video technology firm Video++, also known as Jilian Technology.
Hellobike Raises $700M Round From Ant Financial And Fosun
Chinese bike sharing firm Hellobike has raised a new financing round of US$700 million from existing investors including Ant Financial and Fosun Group, as well as seven new investors, according to Chinese local media.
Tencent Looking To Acquire $485M Stake In Chinese Bullet Train WiFi Operator
Chinese social media giant Tencent Holdings will bid for a stake in the company that provides WiFi services on China’s bullet trains in a deal worth more than RMB3.05 billion (US$485 million).
Tencent, Changan Automobile Launch Connected Vehicle Platform Joint Venture
Chinese Internet giant Tencent Holdings Ltd. has set up a joint venture with Chinese automobile manufacturer Changan Automobile Co., Ltd. to co-develop autonomous driving technologies and connected vehicle platforms.
China’s Xiaomi Said Eyeing Camera Maker GoPro In Bid To Enter US Market
Shares of American action camera manufacturer GoPro Inc. jumped 8.8% in New York today on news reports that Chinese electronics and software company Xiaomi Inc. is considering making an offer for the U.S. company.
Warburg Pincus Leads $44M C Round In Chinese Behavior Analysis Firm Sensors Data
An affiliate of Warburg Pincus has led a US$44 million series C round in Sensors Data, a Chinese company providing user behavior data analytics platform and insights to enterprise clients.
China’s Anti-Pornography Office Asks Video Platforms To Strengthen Censorship
China’s anti-pornography office has summoned 18 online video streaming and related media companies, including Douyu, Qiqiyi, Huajiao and Toutiao, asking them to strengthen video censorship, according to the authority’s website.
HNA’s Tianjin Tianhai Buying Dangdang E-commerce For $1.2B Despite Debt Woes
Tianjin Tianhai Investment Co., Ltd., the investment vehicle of Chinese conglomerate HNA Group, best known for acquiring American company Ingram Micro in 2016, is acquiring the assets of e-commerce platform Dangdang for RMB7.5 billion (US$1.2 billion).
Chinese Orthopaedic Implant Maker AK Medical Buys Britain’s JRI Orthopaedics For $24M
Chinese orthopaedic implant company AK Medical Holdings Limited has announced the acquisition of JRI Orthopaedics Limited, a U.K. firm that designs, manufactures and supplies orthopaedic implants and related instruments, from Orthopaedic Research UK for £16.73 million (US$23.7 million).
China’s HNA Group Scraps Two IPOs In Two Weeks Citing Market Uncertainty
The campaign by Chinese aviation-based conglomerate HNA Group to pay down debt by unloading assets appears to have slowed in the face of market turbulence.
Toutiao CEO Issues Apology As Chinese Media Regulator Shuts Joke App Permanently
Zhang Yiming, founder and CEO of Toutiao, the US$20 billion unicorn which recommends news and other media contents via algorithm, issued an apology letter at midnight last night after Chinese regulator ordered his firm to shut down its joke app Neihan Duanzi permanently.
Yan Yan, Former President of Soho China Joins Blackstone’s Asian Real Estate Team
New York-based investment firm Blackstone Group LP has announced that Yan Yan, former president of Chinese office real-estate developer Soho China, has joined as a managing director in its real estate team in Asia.
Alibaba-backed Electric Vehicle Maker Xiaopeng Plans $2.7B Funding For Expansion
Alibaba-backed Chinese electric vehicle maker Xiaopeng Motors plans to raise RMB17 billion (US$2.7 billion) this year to expand its business, its CEO He Xiaopeng said in an interview at the Boao Forum in China.