China’s largest selfie app maker Meitu has been busy working to diversify itself beyond the beauty arena in China. On Wednesday, the Hong Kong-listed company announced in a filing that it has agreed to pay about HK$2.7 billion ($340 million) for a 31 percent stake in game publishing company Dreamscape Horizon. Dreamscape Horizon, a subsidiary of […]
View More Selfie app maker Meitu eyes overseas gaming market with $340 million dealCategory: Beijing
Lenovo leads $10M investment in 6-legged robot maker Vincross
Vincross, the company behind the six-legged robot Hexa, said on Tuesday that it’s picked up $10 million in a Series A+ funding round led by Lenovo Capital, the startup fund managed by Lenovo Group. Returning investor GGV Capital and newcomer Seekdource Capital also participated. The company declined to disclose its latest valuation but said the […]
View More Lenovo leads $10M investment in 6-legged robot maker Vincross‘There’s no way the US can crush us,’ Huawei founder claims
Huawei’s founder has come out fighting against the U.S. government after he claimed that “there’s no way the US can crush us.” Ren Zhengfei, who founded the telecom company in 1987, doesn’t often make public statements, but, in a rare interview with the BBC, he defiantly claimed that Huawei’s business is growing stronger amid pressure […]
View More ‘There’s no way the US can crush us,’ Huawei founder claimsChina tells teachers to quit assigning homework through WeChat
China’s education authorities are about to take some burden off parents with school-aged children. A proposal posted last week by the Department of Education in China’s eastern province of Zhejiang said teachers should be banned from using WeChat, QQ or other mobile apps to assign homework or ask parents to grade students’ assignments. As mobile internet […]
View More China tells teachers to quit assigning homework through WeChatChina’s Didi reportedly lost a staggering $1.6 billion in 2018
China’s largest car-hailing company is facing relentless pressure from all fronts. Beijing-based Didi Chuxing reportedly lost a staggering 10.9 billion yuan ($1.6 billion) in 2018, according to financial data that Chinese news site 36Kr obtained. For some context, Uber posted a net loss of $939 million on a pro forma basis and an EBITA loss at $527 million during […]
View More China’s Didi reportedly lost a staggering $1.6 billion in 2018Reddit says government data requests more than doubled in 2018
Reddit has said the number of government requests for user data has more than doubled in 2018 than on the previous year. The news and content sharing site said in its latest transparency report, posted Wednesday, it received a 752 requests from governments during the year, up from 310 requests a year earlier. Broken down, […]
View More Reddit says government data requests more than doubled in 2018No, Tencent isn’t about to burn Reddit down
Ahoy, it’s doom and gloom for Reddit after the company welcomed investment from Chinese censorship overlord Tencent. Well, not quite. The reality is, in fact, it’s quite the opposite. In recruiting the company behind one of the internet’s largest and vibrant social networks — chat app WeChat — and countless blockbuster games, Reddit has pulled off […]
View More No, Tencent isn’t about to burn Reddit downChina continues 5G push despite economic slowdown and Huawei setbacks
China will fast-track the issuance of commercial licenses for 5G as part of a national plan to boost consumer spending, said a notice published this week by the National Development and Reform Commission. The move appears to be multifaceted, for 5G plays a key role in China’s bid to lead the global technology race and one […]
View More China continues 5G push despite economic slowdown and Huawei setbacksCanada’s Telus says partner Huawei is ‘reliable’: reports
The US-China tension over Huawei is leaving telecommunications companies around the world at a crossroad, but one spoke out last week. Telus, one of Canada’s largest phone companies showed support for its Chinese partner despite a global backlash against Huawei over cybersecurity threats. “Clearly, Huawei remains a viable and reliable participant in the Canadian telecommunications […]
View More Canada’s Telus says partner Huawei is ‘reliable’: reportsTesla to recall 14,000 Model S cars in China over faulty Takata airbags
China’s top market regulator said on Friday that Tesla will recall a total of 14,123 imported Model S vehicles in the country over potentially deadly airbags. The recall is part of an industry-wide crackdown on Takata-made front passenger airbags, which involves roughly 37 million vehicles including more mainstream brands such as Toyota and Ford, as […]
View More Tesla to recall 14,000 Model S cars in China over faulty Takata airbagsNew policy puts revenue squeeze on China’s payments giants
The era that saw China’s mobile payments providers making handsome interest returns on client money has officially ended. Starting this week, non-bank payments companies must place 100 percent of their customer deposit funds under centralized, interest-free accounts as Beijing moves to rein in financial risks. In the past, third-party payments firms were allowed to hold […]
View More New policy puts revenue squeeze on China’s payments giantsWeChat is quietly ranking user behavior to play catch-up with Alibaba
Over one billion people leave behind trails of information on WeChat every day as they use the messenger to chat, read, shop, hail rides, rent umbrellas and run many other errands. And the Tencent app has quietly started using this type of signal to determine whether a user is worthy of perks such as deposit-free […]
View More WeChat is quietly ranking user behavior to play catch-up with Alibaba