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China's Central Bank Rejects Alibaba, Tencent's Push For Cashless Society

Alibaba and Tencent wanted to kill cash. But their dreams of a cashless society may get crushed first. Concerned about the declining use of China's fiat currency and alarmed by reports of merchants refusing the RMB as payment, the People's Bank of China has taken action to ban, or at least limit the use of the word "cashless" in promotional materials published by digital payment giant Alibaba's Ant Financial.

Alibaba Partners With Macau To Drive Smart City Projects

Chinese Internet giant Alibaba Group Holding Ltd. and the Government of the Macau Special Administrative Region have entered into a strategic partnership framework agreement, under which Alibaba will support Macau’s implementation of smart city initiatives using cloud computing technologies.

Chinese VCs Are Loving Autonomous Driving Tech

What is hot in China's venture capital land nowadays besides artificial intelligence? The answer: autonomous driving. Back in 2015, when the Chinese government issued its China 2025 blueprint, it named autonomous driving as a key sector for the nation's technological and economic future. VCs have responded by crowding into the sector. Over the past ten months, Chinese investors have made eight major deals worth over US$280 million, according to data from China Money Network.

Jack Ma Says China Will Handle One Billion Packages Daily By 2025

Jack Ma, founder and executive chairman of Chinese Internet giant Alibaba Group Holding Ltd., predicts that the number of express delivery packages handled each day in China will jump ten-fold to one billion within the next eight years, from just under 100 million per day currently.