One of the biggest trends in China’s tech industry in recent years is that “Chinese entrepreneurs and startups are being born global,” said David Aikman.
In this episode, the guys are joined by tech founder and fintwit thread-weaver Ming Zhao, as they discuss the broader context of Evergrande’s growth and collapse.
The vicious price war among Chinese couriers has taken a toll on an industry that’s often referred to as the “backbone” of e-commerce.
Arm China, the Chinese branch of Arm Ltd., announced on Aug. 26 it is now an “independently operated and Chinese-controlled” company.
In this episode, the guys are joined for the second time by John Artman, tech editor at the South China Morning Post.
Emerge is TechNode’s annual conference about emerging trends in China tech. It presents a strategic and forward-looking view of China’s tech sector in English with voices from experts and representatives of leading companies.
Under intensifying regulatory pressure, Chinese tech giants are scrambling to show their willingness to operate and invest in compliance with the state’s broad goal of “common prosperity.”
Most Chinese chip companies are spending about 18% of their revenue on R&D. That’s on par with the global norm. But since
Ubox, a Chinese vending machine maker backed by Ant Group, hopes to raise as much as $500 million through a Hong Kong IPO, Bloomberg reported Thursday. Valued at around $1 billion, Ubox could go public as early as this year. The Beijing-based company makes and operates vending machines that incorporate technologies such as facial recognition and artificial intelligence. The company has over 100,000 machines in more than 300 cities across China and overseas. [Bloomberg]
Officials in the east China city of Hefei are in talks with Xiaomi to set up an electric vehicle (EV) plant, 36Kr reports. Hefei-based JAC Motors is expected to assemble cars for Xiaomi, said the report. JAC Motors also assembles cars for Chinese EV maker Nio in Hefei. Xiaomi announced it would invest $10 billion into making EVs in March. Officials from cities including Xi’an and Wuhan have also expressed interest in hosting the plant. [36Kr, in Chinese]
Dada Group, the JD-backed joint venture behind on-demand grocer JD Daojia, announced the launch of an autonomous delivery open system. The system has been adopted by JD’s omnichannel supermarket brand Seven Fresh and Tencent-backed Yonghui Supermarket to deliver on-demand orders to more than 10 neighborhoods in Beijing and Shanghai. Partnered with JD Logistics and autonomous delivery vehicle developer White Rhino, the platform promises to deliver all orders within one hour. [Techweb, in Chinese]
Chinese social shopping app Xiaohongshu is planning to block external links to Alibaba-owned Taobao in August, after allowing them last year. The ban only applies to Taobao links in Xiaohongshu’s text-based reviews, while those embedded in the app’s livestreaming feature will be still available. [Tencent Tech, in Chinese]
Chinese authorities called for food delivery platforms to guarantee drivers are paid local minimum wages and to provide social insurance. The “Guidelines” also call for platforms to make changes to improve driver safety, including reducing pressure for fast deliveries, and offer better dispute resolution processes. Guidelines are not legally binding until implemented through regulations. The action follows months of public and official criticism of the working conditions of food delivery drivers. [State Administration of Market Regulation press release, in Chinese]