China Gets Low Marks On Autonomous Vehicle Preparedness Ranking

China will need to upgrade its regulatory framework and infrastructure before it becomes a leader in the autonomous vehicles space, according to a study by KPMG. In the report, China came 16th on a list of 20 nations in terms of readiness for autonomous vehicles, just below Spain, but ahead of Brazil, Russia and India.

Tencent Built Its Empire With 600 Deals In Six Years, Now It Wants To Bury Alibaba

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’s Baidu Rumored To Raise $2B Round For Financial Unit

China’s tech giant Baidu Inc. is seeking a new funding round of up to US$2 billion for its wholly-owned finance unit to push into the financial services sector and compete with Alibaba Group Holding Ltd and Tencent Holdings Ltd, according to media reports citing insiders.

Tencent, Suning, JD.Com And Sunac To Invest $5.4B In Dalian Wanda Commercial In Retail Offensive

Tencent Holdings Ltd. has teamed up with investors including Suning Holdings Group, long-time partner JD.com Inc. and Chinese property developer Sunac China Holdings Group to acquire around 14% of Dalian Wanda Commercial Properties Co. for approximately RMB34 billion (US$5.4 billion), the Chinese social networking and gaming giant said today.