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Ant Financial, Didi and Xiaomi named top unicorns in China

China’s Ministry of Science and Technology has announced the 2017 China Unicorn Enterprise Development Report (in Chinese) and the Zhongguancun Unicorn Enterprise Development Report. 164 companies have made the top unicorn list, with a total valuation of $628.4 billion. Ant Financial took the crown with a valuation at $75 billion. Didi Chuxing and Xiaomi were placed second […]

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9 of the world’s 12 most shipped smartphone brands are from China

Nine of the world’s twelve most shipped smartphone manufacturers are headquartered in China, according to semiconductor market research firm IC Insights. The company recently updated its 2018 IC Market Drivers Report in which it documented the applications fueling demand for integrated circuits (ICs). According to the report, Apple and Samsung still dominate the market for […]

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Beijing to set up standard organ for blockchain and distributed ledger technologies

China’s Ministry of Industry and Information Technology announced Monday its plans to set up a national committee for the standardization of blockchain and distributed ledger technologies. The move comes against the backdrop of an increasingly standardized industry. International standardization entities, including the International Organization for Standardization (ISO), International Telecommunication Union (ITU), and World Wide Web Consortium […]

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Gionee headquarter to lay off half of its employees

Gionee, once one of China largest smartphone manufacturers, said it has begun laying off employees at its headquarter, according to NetEase reports (in Chinese). The Shenzhen-based company is reportedly cutting as much as 50% of jobs at its headquarter. The job cut is merely a continuation of bad news from Gionee. Just last week, Gionee released […]

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China’s tech firms are adapting to an increasingly IP sensitive environment

Over the past few decades, China has been perceived as a land of copycats where local firms duplicate proven technologies and business models from the West without giving due credit. Counterfeit apparel, blatant technology infringements and pirated movies are still stereotypical portrayals of  the state of intellectual property (IP) protection dynamics in the Middle Kingdom. […]