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.
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.
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Tencent Holdings has launched its own online document product focused on multi-person collaboration similar to Google Docs, the latest move by the Chinese Internet giant in the office application segment.
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.
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.
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.
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.
U.S. companies have been banned for seven years from selling equipment to Chinese telecommunications company ZTE Corp. The ban stems from an earlier case in which ZTE plead guilty to violating U.S. trade sanctions on Iran.
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.
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.
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.
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.
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.
Chinese social media-based e-commerce firm Pinduoduo is reported to have raised a US$3 billion investment round led by Tencent Holdings, at a valuation of US$15 billion.
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.
Four Chinese news apps, including personalized news recommendation app Toutiao and its rival Tiantian Kuaibao, owned by Tencent, have been removed from Chinese smartphone app stores, as China’s government strengthens online censorship.
A RMB10 billion (US$1.6 billion) government-backed blockchain fund, dubbed Xiong An Global Blockchain Innovation Fund, has been launched in the Chinese city of Hangzhou to invest in innovative firms using blockchain technology.
Suzhou-based travel B2B platform Ba Zhua Yu Online, or Octopus, has raised a RMB600 million (US$95 million) series C round from Tempus Group, a conglomerate focusing on travel and personal financial services, Ant Financial and CCB International, an investment services firm owned by China Construction Bank Corporation.
Chinese smartphone and electronics brand Xiaomi is in talks to increase its stake in Indian financial technology start-up Zest-Money, according to Indian media reports. Xiaomi has previously said it intends to invest up to US$100 billion in Indian start-ups.
Alibaba’s third-party mobile payment platform Alipay has been fined RMB180,000 (US$28,535) for inadequate customer rights protection, publishing misleading advertising and improper data protection, according to an administrative penalty notice from People’s Bank of China, Hangzhou branch.
Alibaba Group Holding Ltd. has led a US$600 million series C round in SenseTime, a Beijing-based Chinese artificial intelligence company specializing in facial and image recognition technology and its application.
South Korea’s Mirae Asset Financial Group plans to raise a 280 billion won (US$264.8 million) fund to invest in Chinese ride-hailing platform Didi Chuxing Technology Co., according to Korean media reports.
DJI, the world’s largest consumer drone maker, is reportedly in the process of raising US$1 billion, at a valuation of around US$15 billion.
Tencent Holding Ltd. appears to be making good on its promise to compete against rival Baidu in the field of autonomous vehicles.
Apple Inc. has updated its operating system to enable Chinese passengers to use Apply Pay on the public transportation systems in Beijing and Shanghai, to rival Tencent and Alibaba in mobile payment.
SF Express, one of China’s biggest express delivery companies, announced its subsidiary Jiangxi Fengyu Shuntu Technology Co. Ltd. has secured China’s first experimental drone operating license from the East China Regional Administration of the Civil Aviation Administration of China (CAAC).
A blockchain research institute under the People’s Bank of China has launched a blockchain registry open platform, marking the first central bank-backed blockchain platform in China.
To manage the largest population on earth, Chinese police have turned to artificial intelligence for help. The latest example is in the city of Shenzhen, where police are installing AI cameras to identify and cite jaywalkers.
Retail investments benefit Tencent in three ways: mobile payment and related financial services, cloud development and advertisement, according to the tech giant’s Founder and CEO Pony Ma.
Binance, the Hong Kong-headquartered cryptocurrency exchange, ranked third in the world based on 24-hour volume, will move its operation from Japan to Malta after a warning from Japanese regulators.