China Tech News

The initial phase of the 5G service will cover most of the region, with hotspots at public places.

The trading day following the firm’s admission of financial fraudulence, Luckin lost nearly USD 5 billion in market value.

China’s developments in farm management tech, online grocery delivery, and unmanned stores show a trend of modernization in the food economy.

Taobao’s livestream section welcomes new hosts in February, over 719% more compared to a month ago.

The voice interaction solutions provider counts Xiaomi, SF, and Alibaba among its over 8000 clients.

The index for express delivery services in China reached 103.7% in March.

Hong Kong-based fintech firm Neat raises $11M Series A, the company provides cross-border banking services to SMEs.

Huawei Card is the Chinese giant’s latest venture into mobile finance. Users can apply in minutes via Huawei’s mobile wallet and receive cash rebates for purchases made with the card.

The device is the first of its kind to be allowed in clinical applications in China.

China is about to launch its national blockchain platform, part of the country’s grand strategy to lead the digital transformation of the world economy.

China-based electronics and appliance retailer Gome raises $200M from e-commerce platform Pinduoduo in the form of convertible bonds.

China has started testing its own cryptocurrency across 4 cities, noting the current implementation is not final and no official launch of a digital yuan.

China’s ride-hailing giant Didi Chuxing has raised $150 million from SoftBank and Legend Capital for its bike-sharing unit, Qingju.

Alibaba says it will invest ~$28B in its cloud division over the next three years; the investment will be focused on Alibaba Cloud’s operating system, chips, and servers.

In the first three months of 2020, the total revenue of Chinese mobile game providers has surpassed USD 7 billion, up 40% year-on-year, marking a record-high.

Pinduoduo will invest USD 7.1 billion into China’s rural areas, since “moving agricultural products to its platform” is a key strategy for the company.

The firm’s plant-based meat products have been available in more than 3,300 Starbucks locations across China.

China’s Inceptio Technology, a startup developing self-driving trucks, has raised $100 million in its latest funding round from logistics firm GLP.

China’s software-as-a-service (SaaS) provider DataCanvas has raised an undisclosed amount in a new funding round.

Securities industry SaaS provider Fortune Trend Technology has said that its IPO has been oversubscribed on STAR Market of the Shanghai Stock Exchange.