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.
Huawei Receives Approval To Sell 5G Products In Europe
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.
Top Investors Share Insights On Opportunities and Challenges Investing In Cryptocurrency
The Future Of Cryptocurrency Investment: Bulls vs. Bears, hosted by China Money Network, was successfully held on April 18th at naked Hub, Hong Kong, with three prominent speakers discussing investment opportunities and challenges investing in cryptocurrency. CLICK HERE TO ACCESS THE EVENT PAGE Top crypto experts from Octagon Strategy Ltd., Amber AI and CYBEX gathered with premium cyrptocurrency investors and finance industry executives for an informative panel discussion on the present and future of investing in cyptocurrencies. The investors said …
Tencent Launches Online Document Tool To Rival Google Docs
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.
Macau Cryptocurrency Warning After Reported Gangster Connection
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.
Alibaba Taps Rural Growth With $717M Investment in Huitongda Network
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.
Fintech Start-up 100Credit Gets $159M From State-owned China Reform Fund
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.
China Calls For Semiconductor Self Reliance Amid ZTE Import Ban
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.
US Bans Technology Exports to China’s ZTE Over Trade Sanction Violations
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.
Chinese Big Data Firm MiningLamp Gets $159M C Round From Tencent, China Renaissance
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.
Tencent, Baidu Invest $98M In Chinese News Platform Pear Video
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.
Alibaba, Face++ Lead $56M Round In Chinese AI Video Technology Firm Video++
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.
China’s Xiaomi Said Eyeing Camera Maker GoPro In Bid To Enter US Market
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 Asks Video Platforms To Strengthen Censorship
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.
Tencent Said To Lead $3B Round In E-commerce Site Pinduoduo At $15B Valuation
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.
Toutiao CEO Issues Apology As Chinese Media Regulator Shuts Joke App Permanently
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.
Toutiao Removed From Chinese Smartphone App Stores Amid Tighter Media Censorship
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.
Hangzhou Sets Up $1.6B Government-backed Blockchain Fund To Invest In Start-ups
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.
Chinese Travel B2B Platform Octopus Gets $95M From Tempus Group, Ant Financial, CCB
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.
China’s Xiaomi Said Eying Stake In Indian Fintech Start-up Zest-Money
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.
China Central Bank Fines Ant Financial’s Alipay For Misleading Ads, Poor Data Protection
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 Leads $600M Round In Chinese Artificial Intelligence Start-up SenseTime
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.
Korea’s Mirae Reported Planning US$265M Investment In Didi Chuxing
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.
Chinese Drone Maker DJI Said Raising $1B At $15B Valuation
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.
First Tencent Autonomous Vehicle Spotted As Chinese AV War Intensifies
Tencent Holding Ltd. appears to be making good on its promise to compete against rival Baidu in the field of autonomous vehicles.
Apple Enables Passengers To Use Apple Pay On Beijing, Shanghai Public Transport
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 To Use Drones for Delivery In China’s Remote Regions
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).
China’s Central Bank-backed Institute Launches Blockchain Platform
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.
Chinese Police Start Using Facial Recognition Cameras To Catch Jaywalkers
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.
Tencent’s Pony Ma Says Retail Investment Grows Online Advertising, Mobile Payment
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.
Crypto Exchange Binance Moving To Malta After Japan Warning
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.