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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 to lose their reputation, credibility and perhaps their valuations.

China To Challenge US Leadership In AI? Not So Fast

There have been a lot of discussions on China's rising prowess in artificial intelligence, on how the Chinese are catching up or even surpassing the U.S. in leading the world's most important future technology trend. The concerns are so real that the U.S. government is reportedly looking to strengthen scrutiny of Chinese investments in American AI companies.

My Visit To Mobike Headquarters And What I Learned From Founder Hu Weiwei

In late July, I did a tour of Mobike’s headquarters in Beijing – and I had a fascinating talk with founder Hu Weiwei and VP of International Expansion Chris Martin. It was a fantastic experience and I left with a much better appreciation of the rocket-ship ride the company has been on. I am writing up three (more serious) business articles on the bike-sharing business from this experience. But here is a summary of my trip – and then five big things I learned.

Baidu Partners With Shanxi Province To Integrate AI With City Management

Baidu Inc., China's largest search engine, has signed an agreement with the government of Shanxi province to integrate artificial intelligence into city management. The project, designed to create "smart cities" and help the Northern province upgrade its industrial base, is another step in Baidu's campaign to position itself as an artificial intelligence company.

China's People's Insurance Co Injects $350M In Ride Hauling Firm Ucar

Ucar Group, a ride hauling service unit launched by Chinese rental car company Car Inc., has received RMB2.4 billion (US$350 million) strategic investment from People's Insurance Company of China Holdings Co., bringing the company's total fundraising this year to RMB7 billion (US$1 billion).

China's A-Share IPO Market Hit Record With 247 IPOs Raising $18.3 Billion In First Half

China's A-share IPO market posted the strongest first half in ten years, with up to 247 companies having floated their shares on the Shanghai and Shenzhen stock exchanges during the first six months. Total IPO fundraising stood at RMB125.4 billion (US$18.3 billion), which is more than four times over the same period last year. The number of A-share IPOs during the first half is the highest in 10 years, and has already surpassed the number of IPOs for the full year of 2016, according to a new KPMG report. "The consumer markets and industrials sectors led in terms of funds raised. This is in line with the government’s desire to deleverage companies within both sectors due to their heavy reliance on bank borrowings," said Charles Wan, a partner at KPMG China. "The technology sector continues to play a big part in A-share IPOs with a 20% market share." IPOs were approved at an accelerated pace for most of the first half, although the approval rate has gone down to 81% in the second quarter from around 90% in the final quarter last year. KPMG expects IPO activity to continue to be strong in the second half of the year as …

China's Wanda, Fosun See Shares Plunge After Reported Regulator Scrutiny

Nervous investors dumped shares and bonds of Dalian Wanda Group Co. today, as reports of elevated regulatory scrutiny regarding the company's overseas borrowings caused widespread panic. Shares of Fosun International, named as one of a number of companies whose overseas debt is being investigated by regulators, also tumbled, along with its pharmaceutical unit.