China’s largest e-commerce company Alibaba Group is in talks to buy a minority stake Dailyhunt, an Indian news aggregator and e-bookstore backed by Chinese personal news recommendation app Toutiao, according to Indian media.
Chinese billionaire Cai Wensheng, founder of photo touch-up app and smartphone maker Meitu and a well-known angel investor, said in a recent online chat group that he believes blockchain is the biggest bubble the world has ever seen, and missing it would be the biggest mistake anyone can make.
Wang Lifeng, a visual technology expert who previously worked as a director at Autodesk Software (China) Co., Ltd., and a researcher at Microsoft Corporation, has joined 51HiTech, a Beijing-based virtual reality and augmented reality start-up as chief technology officer, according to the firm’s announcement on its WeChat account.
500 Startups, the Silicon Valley startup accelerator, announced yesterday that it is partnering with cryptocurrency exchange Huobi’s incubator wing, Huobi Labs, to help support Blockchain projects and potentially initial coin offerings (ICOs).
China’s largest news app Toutiao has reportedly acquired augmented reality-based selfie app Faceu for US$300 million, as the personalized recommendation news platform continues to expand its business scope.
Similar to the Beijing Olympics opening ceremony in 2008 when thousands of performers waved their drumsticks in synchronization, the 2018 New Year’s Eve gala televised a few days ago featured autonomous driving cars, flying drones and boats dancing together to form symbolic images of a rising China.
Huawei may be facing a virtual sales ban in the United States, due to alleged security concerns, but that hasn’t stopped the Chinese company from launching tests of its 5G wireless technology just north of the border in Canada. On Wednesday, Huawei unveiled an urban trial of 5G wireless-to-the-home services in Vancouver, in partnership with Canadian carrier Telus. The trial is believed to be the first of its kind in North America. “This trial represents continued progress toward the launch of 5G, …
Chinese tech giant Baidu Inc. has formally proposed listing its online-video unit iQiyi in the U.S. in an initial public offering likely to value the company at up to US$10 billion.
Alibaba’s Ant Financial is working with China Construction Bank and online real estate agency Lianjia to launch a blockchain-based apartment rental platform in China’s Xiongan New Area.
Sequoia China has led a US$40 million series C round in Mountain View-based artificial intelligence-powered fraud detection solution provider DataVisor, according to an announcement.
Foxconn Industrial Internet Co., a subsidiary of Foxconn Technology Group, is planning an initial public offering on the Shanghai Stock Exchange to fund eight investment projects in China totaling RMB27.3 billion (US$4.3 billion), according to its IPO prospectus.
Beijing has launched its first autonomous driving testing site for vehicle makers to conduct research and development.
Huami Corporation, a Chinese manufacturer of low-cost wearable devices backed by smartphone maker Xiaomi, raised a smaller-than-expected US$110 million in a public float on the New York Stock Exchange today. The offering, which was less than the hoped for US$150 million, gives Huami a market valuation of US$690 million, much lower than its previously rumored US$1 billion price tag.
Chinese police have a stylish new way to fight crime: high-tech facial-recognition sunglasses.
Chinese tech giant Tencent Holdings Ltd has opened up its artificial intelligence images platform to the public, essentially offering basic image and facial recognition capabilities for free. The move raises the question if start-ups focused on providing facial recognition services would still be commercially viable.
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.
Apple Inc will build a data center in Ulanqab City in north China’s Inner Mongolia Autonomous Region, its second data center in China. The news comes shortly after Apple announced a agreement to hand over its iCloud data storage services in mainland China to a state-owned company in Guizhou due to regulatory concerns.
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 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.
Chinese electric vehicle manufacturer Future Mobility Corp’s brand Byton has partnered with U.S. autonomous driving technology firm Aurora to incorporate Level 4 autonomous-driving capabilities into Byton vehicles.
Tencent-backed healthcare solution platform We Doctor Holdings Limited has partnered with IDS Medical Systems Group Limited, a medical supply chain solutions company supported by Hong Kong’s Fung Group, to form a medical supply chain and procurement company in China.
China’s second largest e-commerce player JD.com Inc. has gained approval from China’s Civil Aviation Administration for the first national pilot program to test delivery drones on a large scale in China. The program will be rolled out in the northern province of Shaanxi.
The Chinese government is planning additional steps to crack down on cryptocurrency speculation in that country, according to domestic media reports. A series of new regulatory measures will be taken in the coming weeks against initial coin offerings (ICO) and virtual currency transactions conducted in China and abroad, including the possible banning and disposal of domestic and foreign virtual currency exchange websites and related businesses, according to the Financial Times of the People’s Bank of China (PBOC), and reported on …
China Money AI is our news writing robot. These articles are edited by humans In recent years, Li Jiacheng, a young businessman in Fujian, has been doing business in Myanmar and Africa. As Bitcoin prices skyrocketed, a new project entered his horizons: Myanmar has a hydropower station near the border with Yunnan province in China that has cheap power to supply bitcoin mining.
Ant Financial, the financial services arm of Alibaba Group Holding Ltd., has invested US$200 million in Indian food delivery firm Zomato Media Private Ltd.
Tencent Holdings Ltd. is reported to have lead a RMB10 billion (US$1.59 billion) deal to invest in Chinese menswear group Heilan Home Co Ltd., the latest in a string of investments in the brick-and-mortar retail space by Tencent as it competes with e-commerce giant Alibaba.
Baidu Venture Capital (BV), the early-stage investment unit of Baidu Inc. focused on artificial intelligence investments, has completed the first closing of its second RMB fund, having raised nearly RMB2 billion (US$317 million), according to a WeChat post by the firm. Together with BV’s first RMB fund and a US dollar fund, the firm has total assets under management of around RMB3 billion (US$476 million), the company said. External investors joined the fund for the first time as limited partners, …
Alibaba Group Holding Ltd. reported quarterly results today and said that it has agreed to a 33% stake in Ant Financial to end the current profit-sharing arrangement between the parent company and its financial services affiliate.
Chinese autonomous vehicle startups JingChi Inc. and Pony.ai, both founded by former executives of tech giant Baidu Inc., have launched public tests drive programs for the first time in the southern city of Guangzhou, despite the threat of litigation by their former employer.
Ping An Healthcare And Technology Co., Ltd., which operates the popular healthcare and medical mobile app Ping An Good Doctor, has been cleared for a US$5 billion initial public offering in Hong Kong.
On January 30, at China Renaissance Group’s 2018 New Year Media Communication Conference, Bao Fan, founder and CEO of China Renaissance Group, shared his views on the 2017 capital markets, blockchain and market competition. Below is an edited summary of his speech that originally appeared on Touzirenshuo’s Wechat channel. China Money Network is authorized to republish the post. It felt like 2017 went especially fast, in the blink of an eye. Indeed, 2017 was a triumphant year for our industry. …