China will introduce new rules governing online encryption from Jan 1; the government will set encryption standards for state and enterprise organizations, and have full control over how crypto-tech is implemented; comes as China’s central bank plans to launch its a stablecoin linked to the yuan.
Tencent, the Chinese internet giant and owner of WeChat, is reportedly forming a team to explore possible new use cases for cryptocurrencies.
ByteDance has developed but not launched a deepfake feature for TikTok and Chinese-market sister app Douyin, the apps ask the user for a multi-angle biometric face scan, then provide a selection of videos for face insertion; the feature requires identity verification so users can't make deepfakes with images of non-consenting people.
AInnovation, a China-based applied AI startup for retail, manufacturing, finance, and other sectors, raises ~$57M Series B, bringing its total raised to ~$143M.
Tesla begins work on China-made Model Y vehicles; at a launch event, Elon Musk predicted the Model Y would become Tesla's most popular vehicle.
Mercedes-Benz partners with Chinese carmaker Geely to establish an EV joint venture; the unit will produce all-electric vehicles under the Smart brand; the companies will collectively invest ~$780M in the venture.
Luckin’s tech-enabled vending machines are powered with internet of things, big data, and facial recognition to enhance customers’ experience.
Tesla says it plans to open a design and research facility in China, the company made the announcement via its WeChat account.
Volkswagen is set to take a 20% stake in Chinese electric vehicle battery maker Guoxuan as the German firm accelerates its electric push into the world’s largest auto market.
Chinese ride-hailing firm Dida Chuxing (not to be confused with rival Didi Chuxing) plans to raise as much as $300M and is considering an IPO.
Tencent offers $148M to acquire full control of Norway-based games company Funcom, Tencent currently owns 29 percent of the firm.