Over the weekend, Chinese self-driving startup JingChi’s (景驰科技) co-founder Pan Sining accused CFO Lu Qing and others of forging signatures in shareholder’s meetings and illegally removing him from his positions as executive director and statutory representative, local media has reported. Pan wrote in a post on his official social media account demanding a response from […]
Posted inHeavy Hitters
Tencent seeks to list its music business in the US
Tencent Holdings Ltd has submitted a proposal to the Stock Exchange of Hong Kong seeking a separate listing of Tencent Music, its online music entertainment business, on a US stock exchange. The HKEX has confirmed that Tencent can proceed with the proposed spin-off. The terms of the spin-off have not been finalized yet. The listing […]
Posted inViews
The China that can be understood is not the real China
Sometimes the only way to truly understand a thing is to compare it to something else. Live in the same place for long enough and you’d be forgiven for forgetting that anything significant actually exists outside it. We adapt to our environment, allowing it (some more than others) to shape our thoughts and behaviors. While […]
Posted inEvents
Ant Financial is tapping into blockchain technology
Ant Financial, the biggest payment service in China, is looking to tap into blockchain technology to transform its businesses. At TechCrunch Hangzhou, Zhang Hui, Director of Blockchain Department at Ant Financial, spoke about blockchain’s use cases in the financial sector and the biggest challenges implementing the technology. “As a fintech company, we are very invested […]
Posted inEvents, Heavy Hitters
Ant Financial is more than just a financial tool
Ant Financial Service Group has recently raised $14 billion in what is believed to be the world’s largest-ever single fundraising. The company has gained attention from global media and capital markets. But the as the company offers a plethora of financial and mobile payment tools, one may ask, is it a financial company or a […]
Posted inEvents, Heavy Hitters
What’s new in new retail: Wang Xiruo, CTO of Hema Xiansheng
New retail is no longer fresh now. When Jack Ma first proposed the new retail concept at the company’s annual Yunqi Conference in October of 2016, he said: “There is no e-commerce in the next ten years or twenty years, there’s only new retail.” As a result, almost all businesses began to call themselves new retailers. Some […]
Posted inHeavy Hitters
Baidu is serious about Apollo’s tech and partnerships
Baidu’s Baidu Create: Artificial Intelligence Developer Conference was held at the National Convention Center in Beijing from July 4-5. During the first day’s event, Baidu made four major announcements. The tech giant said its self-driving minibus will enter mass production phase. New AI chip Kunlun aiming at cloud and edge computing in AI use cases […]
Posted inOn the Cusp
Illegal crypto and blockchain-related fraud cases on the rise
Earlier this week, the Beijing Municipal People’s Procuratorate released a new white paper on financial crimes (in Chinese). According to the white paper, illegal fundraising activities and financial crimes in Beijing are on the rise—not only did the number of fraud cases increased, but the scale and spread of these crimes also escalated. Crypto and […]
Posted inOn the Cusp
Bitcoin tycoon Li Xiaolai spills dark secrets in leaked recording
A 50-minute long recording of China’s bitcoin tycoon Li Xiaolai leaked on to the internet this week is causing a big stir in China’s crypto community and social media, according to local media reports (in Chinese). Li was recorded going off on some of the most well-known players in the crypto space including NEO, Tron, […]
Posted inWith Chinese Characteristics
Huawei says roadblocks to US market are being constructed by its rivals
As the trade tensions between the US and China heat up, Huawei is striking back against a proposal by the US Federal Communications Commission (FCC) that would prevent the companies that use Huawei equipment from accessing US federal funds aimed at developing telecommunications. The Commission’s proposed rule would forbid US carriers that use equipment thought […]