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Yimian Wu

China’s Direct Investment In US Drops 35% With Value Of New Acquisitions Reduced By 90% In 2017 Due To Regulatory Hurdles

China’s direct investment in the United States dropped by 35% in 2017 to US$29 billion in completed deals, and the value of newly announced Chinese acquisitions in the U.S. dropped by 90% compared to 2016, due to regulatory hurdles from both countries, according to a report by Rhodium Group, a research consultancy based in New York. 

VC Fund Offers $155M To Lure Chinese Scientists Away From Silicon Valley

In recent years, many talented Chinese scientists have abandoned Silicon Valley to seek greater opportunities at home with local tech firms. Now they will have an added incentive as Chinese venture capital firm Shenzhen Green Pine Capital Partners has launched a RMB1 billion (US$155 million) fund to help overseas Chinese scientists start businesses in the southern city of Shenzhen.

Xiaomi’s Smartwatch Partner Huami Corp Files For US$150M IPO

Huami Corporation, the maker of  Xiaomi’s Mi smart wrist ban is seeking a US$150 million initial pubic offering in the U.S., according a securities filing. The company is applying for the listing of its ADSs on Nasdaq Global Market under the ticker symbol “HMI”. Pricing terms were not disclosed.

Baidu, Ant Financial And Toutiao Summoned By Chinese Government Over User Privacy Issues

Chinese tech giant Baidu Inc., Alibaba’s financial affiliate Ant Financial and Beijing Bytedance Telecommunications Co., Ltd., the operator of Chinese personalized news app Toutiao, have been summoned to answer question by China’s Ministry of Industry and Information Technology as they have failed to fully disclose the collection of personal data from users of their mobile apps, according to the government’s website. 

China Car-Sharing Giant Didi Chuxing Cooperates With Bluegogo To Launch Massive Bike-Sharing Platform

China’s fractured bike sharing industry just became more complex as car ride sharing giant Didi Chuxing announced the launch of a comprehensive bike-sharing platform. Under the plan, Didi’s car sharing app will integrate the services of Bluegogo, as well as bike sharing giant ofo and potentially other bike-sharing partners. It will also include a DiDi branded bike-sharing service, which is under development.

Beijing Considers Policies To Potentially Ban Bitcoin Mining In China

Chinese regulators are rumored to take another forceful action toward the Bitcoin industry, potentially asking bitcoin mining companies in China to exit the business soon. This is another and final major blow to China’s Bitcoin industry after Beijing closed all Bitcoin exchanges and banned initial coin offerings last fall.