Lalamove is seeking new funding at a valuation of $10 billion
Lalamove will seek new financing at a $10 billion valuation and intends to raise around $500 million in fresh capital
TikTok’s ad revenue hits a 300% growth rate
While TikTok’s ad revenue is growing at a 300% compound annual growth rate, ByteDance’s advertising revenue in China has stagnated,
WeChat payment is trialled on the Taobao App
Taobao has opened a small range of WeChat Pay functions for internal testing and has introduced two WeChat Pay payment
Former XPeng autonomous driving product director joins NIO
Huang Xin, former director of autonomous driving product of XPeng Automobile, joined NIO (a Chinese automobile manufacturer) as vice president.
TSMC and Samsung urge the U.S. to open its $52 billion chip subsidy plan
TSMC and Samsung Electronics urged the U.S. to allow foreign companies to participate in the $52 billion subsidy plan.
Microsoft security chief is stressing the need for metaverse security
All software developers and users must consider ahead of time how to keep the metaverse safe and avoid hackers, abuse,
Huawei responds to Russian company’s testing of the Harmony OS
Due to U.S. sanctions, Google has halted the certification of smartphones from a Russian telephone company, BQ, from running Android
Chinese local policies support ready-to-cook food industry
Ready-to-cook foods are increasingly popular in the Chinese market and local policies are changing to reflect the trend.
Removing additional tariffs on US-China trade may ease inflation
On March 24, the spokesperson of The Ministry of Commerce of China Shu Jueting, said that China expects the United
Shell and BYD sign collaboration agreement for electric vehicle charging
On March 24, oil and energy company Shell plc and Chinese automaker BYD signed a global strategic agreement to collaborate
Chinese tech giants’ widespread layoffs in the wake of rapid expansion
The various segments of the digital economy have begun to move from an era of customer growth to an era
BYD teams up with NVIDIA for intelligent driving technology
Chinese automaker BYD announced on March 23 its collaboration with the graphics chip giant NVIDIA on intelligent driving technology.
China’s computing megaproject will boost industries worth over $16 billion
Computing power, like water conservancy in the agricultural era and electricity in the industrial era, has become the core productivity
Didi is venturing into the automobile manufacturing business
Didi has been preparing for its move into autonomous driving for quite some time and has started to establish its
Environmental issues stymied Meta’s plans to build Dutch data centre
On March 22, The Dutch Senate passed a motion calling on the government to use its power to temporarily prohibit
Xiaomi Auto has an R&D team of over 1,000 people
Xiaomi’s smart electric vehicle business has progressed faster than expected since the company revealed ambitions to produce the automobile in
Alipay’s new feature helps parents manage minors’ games payments
Alipay has launched a new feature called “Game Lock” to help parents control minors’ game payments. Since its debut one
Two sponsors were slapped with hefty fines in the aftermath of LeEco’s fraud
According to an investigation by the China Securities Regulatory Commission (CSRC), LeEco’s financial fraud began as early as 2007.
China EV maker NIO claims no plans to raise prices in the short term
Recently, several automakers hit by raw material price variations have announced price increases. In response, NIO stated that price stability
Microsoft announced its fifth Azure data centre in China
Microsoft announced the opening of its fifth Azure data centre in China. The new data centre located in North China’s
Chinese Online Grocer Dingdong apologises for the food safety issue
Dingdong (Cayman) Ltd, one of the most popular Chinese online grocers, apologised for its food safety issue after being accused
Chinese tech stocks rise sharply after a record-breaking drop since 2008
The drop pushed the prices to a record low since the 2008 financial crisis. However, the stocks began a strong
What led to the flash crash in China Concepts Stock?
In the past 15 months, China Concepts Stock’s market value has plummeted by nearly 10 trillion yuan ($1.37 trillion), which
Alibaba’s former vice president joins DingTalk as COO
Ku Wei, former VP of Ali Group, has been appointed as the COO of DingTalk, an Alibaba-backed all-in-one workplace mobile
Reeling from layoff wave at China’s Big Tech companies, what’s next?
Recently, news of a layoff wave at Alibaba and Tencent landed on micro-blogging platform Weibo’s hot search list.
POP MART is revealed to overhype its mystery toy boxes
On March 16th, POP MART was revealed to overhype its mystery toy boxes during the CCTV 315 Gala.
China’s 12315 platform retrieves 5.5 billion yuan in consumer losses
As a bridge between market regulators and consumers, the 12315 platform and other channels accepted 23.812 million complaints and reports
Meituan e-commerce launches self-operated stores and cross-border businesses
On March 14, Meituan e-commerce launched its self-operated stores, whose operation model is similar to “JD’s self-operated store”.
Alipay’s standard list aids in the protection of rights and interests
On March 11, Ant Group’s Alipay (China) has officially released a list of national, industry, group and enterprise standards.
“Sudden death” scares of Chinese Internet workers
According to the Overwork Report 2021 released by 36kr, 76.1% of young people work overtime frequently and over 30% never
H&M sister brand Monki pulled out of China
Monki, a fast-fashion brand owned by Swedish retail giant H&M, announced the closing of its Tmall flagship store on March
Tesla China raises prices due to supply chain pressure
On March 10, Tesla increased its prices for the Model 3 Performance, Model Y Long Range, and Model Y Performance
How technology is benefitting people with disabilities
Many tech companies and organizations have been committed to designing disability-friendly products, in order to offer vulnerable groups a barrier-free
SenseTime establishes a digital technology company worth 3.5 billion RMB
On March 8, Shanghai SenseTime Digital Technology Co., Ltd. was established with a registered capital of 3.5 billion RMB.
JD.com built China’s first “zero-carbon” logistics park
JD “Asia No.1” Xi’an Intelligent Industrial Park was awarded dual carbon-neutral certifications by Beijing Green Exchange and Centre Testing International
Chinese mobile games rake in over $2 billion
Chinese publishers Tencent, NetEase, and miHoYo continue to hold three of the top five seats on the global mobile game