• Xiaomi expands into the Philippines after conquering India in push ahead of IPO February 22, 2018 6:23 am
    Chinese smartphone maker Xiaomi opened its first offline store in the Philippines this week, part of its overall strategy to boost international sales ahead of its much-anticipated public share offering. The launch in downtown Manila on Monday attracted more than 2,000 people, Lei Jun, founder and chief executive of Xiaomi, said in a post on his official Weibo account. “The fervour Xiaomi has received globally is mainly because we strive to make touching and honestly-priced products,...
    Sarah Dai
  • Tesla's Amazon cloud account was hacked and used to mine cryptocurrency February 21, 2018 4:24 am
    By Mark Matousek Tesla's Amazon Web Services account was hacked to mine cryptocurrency, Fortune first reported. The hack, which was brought to Tesla's attention by the cybersecurity start-up RedLock, also reportedly exposed some of Tesla's proprietary data related to mapping, telemetry, and vehicle servicing. RedLock discovered the hack after it found an IT administrative console that didn't have a password, but the company was unable to determine who initiated the...
    Business Insider
  • Meet five Chinese start-ups pushing facial recognition technology into the mainstream February 20, 2018 12:31 am
    China’s goal of becoming a global leader in artificial intelligence (AI) is nowhere more manifested than in how facial recognition technology has become a part of daily life in the world’s second-largest economy. Facial recognition systems, which are biometric computer applications that automatically identify an individual from a database of digital images, are now being used extensively in areas such as public security, financial services, transport and retail across the country....
    Sarah Dai
  • Lunar New Year goes hi-tech, from AI couplets to digital lucky money February 16, 2018 10:00 pm
    The Lunar New Year, which started on Friday, not only marks a holiday travel season in China that is the world’s biggest annual mass migration of people, but also roaring demand for the latest apps to rouse the country’s vast internet population. With the largest internet population and smartphone market in the world, China also the biggest app economy, according to recent estimates from analytics company App Annie. It said China accounts for US$1 out of every US$4 generated...
    Amanda Lee
  • These 10 Chinese startups are vying to be the next Tesla. February 15, 2018 2:00 am
    China’s car market, the world’s biggest, is changing fast. With “new energy”, “connected” and “autonomous” among the industry’s buzzwords, tech-savvy start-ups have drawn inspiration from upstart Tesla Motors and are determined to be the next disruptor of traditional carmakers like Volkswagen and GM.  A flurry of electric car start-ups has sprouted up in recent years after the Chinese government started handing out special...
    Sarah Dai
  • This Intel-backed China start-up is building ‘brains’ for self-driving cars, powering surveillance cams February 13, 2018 10:00 pm
    If you have taken a ride on the Beijing subway or tried on a pair of shoes at a Belle boutique, there’s a chance you have been monitored by surveillance cameras running facial recognition and artificial intelligence (AI) algorithms developed by Horizon Robotics.  Surveillance cameras powered by its AI chips have been deployed in some of the busiest subway stations in Beijing, with the ability to identify 200 different faces in real-time. Horizon’s technology also enables...
    Meng Jing
  • This US$2,200 prosthetic gives you two extra hands on each arm February 13, 2018 3:35 am
    By Magdalena Petrova A start-up called Youbionic wants to elevate people’s abilities by giving them a set of extra hands. The company’s double-handed, 3D-printed prosthetic is controlled by flex sensors on the user’s fingers. Each hand has six actuators that allow it to pinch and close. Youbionic launched in 2014 with a single-handed prosthetic. The company says that it’s now working to modify its two-handed wearable to perform everyday tasks such as turning a handle and...
    CNBC
  • This new app to create and share family portraits is sweeping China ahead of the Lunar New Year February 12, 2018 10:01 pm
    China, which has the world’s biggest internet population, looks to be in the grip of a trendy new online app that has millions of users creating and sharing cartoon strip-like family portraits featuring their pet cats and dogs.  Beijing-based start-up Pupupula, a lifestyle brand for children aged three to 12 and the app’s developer, launched a viral campaign called “2018 Year of the Dog family portrait” that has become popular on the mainland since its launch at the...
    Amanda Lee
  • Deliveroo has no appetite for China’s ‘competitive’ food delivery market February 12, 2018 1:04 pm
    Online food delivery giant Deliveroo is reluctant to enter China because it sees it as a highly competitive market, according to its founder and CEO. “China is a very well served market already, with a lot of competition there,” said Will Shu, a former investment banker who founded the company in 2013, when asked if Deliveroo had any plans to take its business to the mainland. The UK-based start-up’s apparent lack of ambition in the Chinese mainland stands in contrast to a...
    Josh Ye
  • Sink or swim. Hong Kong lenders must get smart with virtual banks as fintechs snap at their heels February 9, 2018 4:47 am
    As one of the premier international financial centres in the world, Hong Kong has a well-established and developed banking system. But despite the size of the financial industry and the presence of branches in every corner, customers are among the least satisfied with banking services in the world. That’s a challenge for bank management teams. Accenture research last year showed only 53 per cent of Hongkongers enjoy the overall service they receive from banks, much lower than the 88 per...
    Fergus Gordon
  • China formulates new policies for autonomous cars in bid to catch up to US February 8, 2018 1:33 pm
    China is formulating technology standards and industry guidelines for autonomous vehicles as the world’s largest auto market plays catch-up with the US in what many see as the future of transport. More than 24 states in the US have introduced legislation on autonomous driving, whereas China is behind on the regulatory front, according to Yvette Lin, an analyst with consultancy TrendForce. However, China is aware of the problem and taking steps to close the gap. “We are building test...
    Sarah Dai
  • A newly unveiled business jet can take off like a helicopter February 8, 2018 4:06 am
    By Nyshka Chandran Business jets are typically regarded as an indulgence of the global elite, but a just-unveiled entrant to the sector shows there’s more to the industry. Starling Jet is billed as the world’s first hybrid-electric business aircraft capable of vertical take-off and landing (like a helicopter). In addition to serving high-net worth individuals, the planes can be used for disaster recovery and function as an ambulance. Developed by U.K. start-up Samad Aerospace and...
    CNBC
  • One of the world’s top coders, known as Godfather, is backing a Chinese self-driving car start-up February 7, 2018 2:00 pm
    In the geek world there is no shortage of legendary stories about James Peng and Lou Tiancheng – even before they co-founded China’s answer to Waymo, the self-driving unit of Google parent Alphabet. Ten years ago Lou, now 32 and nicknamed Godfather of hackers, was the best Chinese contestant at Topcoder Open – the equivalent of the Olympics for hackers – and his record from a decade ago still ranks him among the top eight globally today.  Ex-Google Brain head...
    Sarah Dai
  • China’s Source Code Capital builds mentoring network for investee start-ups February 6, 2018 11:33 am
    Beijing-based emerging venture capital Source Code Capital says it has built a mentoring network resembling an accelerator for the 100 start-ups that it invested in, as following through an investment is as important as starting one. Founding partner Charlie Cao said linking up the 40-plus investors who have invested in Source Code funds with founders of its portfolio investee companies would provide the start-up entrepreneurs with access to mentoring and guidance from experienced executives...
    Georgina Lee
  • A future of self-driving cars challenge the iron laws of real estate: location no longer matters February 6, 2018 7:39 am
    The link between property and transport has been perhaps the most durable in human history. Since the ancients, few things have delivered higher land values with more certainty than advances in transport, from roads to canals, railways to highways. It’s still “a no-brainer” in the 21st century, says Bridget Buxton. She bought a fixer-upper with her husband in a scruffy part of East London in 2016 because it’s a short walk to the high-speed cross-town rail...
    Bloomberg
  • To tackle Chinese roads, Silicon Valley-born self-driving car start-up first has to conquer rain February 2, 2018 11:00 pm
    A Silicon Valley-born self-driving car start-up is taking to the streets of Guangzhou to acclimatise itself to Chinese road conditions. One of the first things the autonomous car had to learn: piloting itself in rain. “It’s all sunny in California, while [in] Guangzhou [it] tends to rain more frequently close to April,” said James Peng, co-founder and chief executive of Pony.ai, at a drizzly demonstration in the southern Chinese city. The outfit took three months to master the...
    Sarah Dai
  • Baidu’s former self-driving chief offers test rides of autonomous cars in Guangzhou amid lawsuit January 31, 2018 10:04 pm
    Unfazed by a lawsuit accusing him of stealing technology from China’s largest online search provider, Wang Jing, the former general manager of Baidu’s autonomous driving unit, is now offering test rides of his new company’s fleet of self-driving cars to the general public in the southern coastal city of Guangzhou. JingChi, the self-driving technology start-up that Wang co-founded in April last year, launched on Tuesday a three-month, public test ride programme as part of its...
    Sarah Dai
  • Al Gore’s investment firm backs start-up created by Facebook co-founder January 31, 2018 4:04 am
    By Ari Levy Former Vice President Al Gore’s investment firm is making a big bet on one of the creators of Facebook. Asana, a software company headed by Facebook co-founder Dustin Moskovitz, said on Tuesday that it raised US$75 million in a financing round led by Generation Investment Management. Generation, which Gore co-founded in 2004, invests globally and focuses on what it calls “sustainable business practices.” Asana develops cloud-based project management software used...
    CNBC
  • Baidu- and Google-linked AI expert launches US$175 million fund for machine intelligence start-ups January 30, 2018 8:53 pm
    An artificial intelligence researcher who has said he wants to free humanity from repetitive mental drudgery also wants to save AI entrepreneurs time spent raising funds. Andrew Ng says he will launch a US$175 million (HK$1.4 billion) fund to invest in AI start-ups, backed by private-equity firms NEA, Sequoia, Greylock Partners and Softbank. Ng’s the co-founder of online education platform Coursera, which has led AI teams at Google and Baidu.  He said his background will help...
    Associated Press
  • FTSE 100 tech firm Sage eyes expansion in Hong Kong January 29, 2018 8:31 am
    British technology company Sage Group is planning to expand its business in Hong Kong and China where it hopes to tap the vast number of small and medium-sized firms. The decision of the FTSE 100 management software business to open an office in Hong Kong as it seek further expansion opportunities comes amid a push by the city’s regulators to attract global technology companies to operate and list here. China and Hong Kong together have 50 million small and medium-sized companies, which...
    Enoch Yiu
  • Xpeng raises US$348 million as Chinese electric car start-ups battle for attention January 29, 2018 5:15 am
    Xiaopeng Motors, the electric car start-up backed by Alibaba Group Holding, is nearing the close of a 2.2 billion yuan (US$348 million) funding round, accelerating the pace of competition among start-ups in the world’s largest auto market. The latest series B round is led by Alibaba, Foxconn and IDG Capital, the company announced in Hong Kong on Monday. Other investors include Yunfeng Capital, CICC and Morning Ventures. “The funding round is a milestone for Xiaopeng,” said co-...
    Sarah Dai, Zen Soo
  • 'China's Uber' ramps up AI arms race, says it will open third deep learning research lab January 26, 2018 2:15 pm
    Didi Chuxing, the largest ride-hailing app operator in China, has decided to add a third research facility, located in Beijing, in the wake of renewed competition, 16 months after rival Uber ended operations in the country. The facility will consolidate research efforts in artificial intelligence, including deep learning, computer vision and natural language processing technologies for smart transportation, according to Ye Jieping, vice president of Didi Chuxing. Didi Chuxing currently...
    Sarah Dai
  • China is closing the tech gap, says US agency … as federal shutdown forces it to partially close January 23, 2018 10:00 pm
    Among the federal agencies disrupted by the brief US government shutdown was the National Science Foundation (NSF), which spends billions of dollars a year supporting technology-related research.   Somewhat ironically its partial closure, as a “non-essential” government function, came just two days after it published a report showing the US’ global dominance of science and technology is fast declining as “other nations – especially China – continue...
    Sarah Dai
  • Indonesian fintech start-up Mekar eyes potential venture capital funding January 23, 2018 4:33 am
    Mekar, the Indonesian fintech start-up controlled by tycoon Putera Sampoerna, will seek financing from foreign venture capital investors as it looks to deepen its use of technology to expand its microcredit lending service both within and outside the country. Thierry Sanders, chief executive officer of Mekar, told the South China Morning Post on the sidelines of last week’s Family Office Solutions Showcases in Hong Kong that since the start-up’s inception in January 2016, it has...
    Georgina Lee
  • China's biggest electric-car maker, BJEV, to list in US$4.5 billion deal January 23, 2018 1:15 am
    China’s biggest electric-car maker will gain a stock market listing in an asset swap valuing the state-backed manufacturer at 28.8 billion yuan (US$4.5 billion), giving investors a chance to bet more directly on the world’s largest market for new-energy vehicles. One of BAIC Group’s publicly traded affiliates, Chengdu Qian Feng Electronics, will buy Beijing Electric Vehicle Co, also known as BJEV, in a stock sale and asset-swap deal. As part of the plan, Qian Feng will...
    Bloomberg
  • This insurtech start-up wants to compete with ZhongAn, Ping An by targeting China’s wealthy January 22, 2018 12:18 am
    Competition in China’s emerging insurance technology scene is getting fierce, drawing several new players who want to tap the world’s third largest insurance market with its large mobile and digitally savvy consumer base. CareVoice, China’s first review-based social platform that helps people make better health related decisions, is the latest insurtech start-up to attract investors, as it hopes to compete in the market by targeting a younger generation of affluent, tech-savvy...
    Laura He
  • Money from Chinese tech firms is deciding India’s next unicorn, say venture capitalists January 21, 2018 11:00 pm
    Capital from Chinese technology firms is deciding the winners in India’s tech start-up market, according to venture capitalists. Indian companies chosen by tech giants such as Tencent Holdings and Alibaba Group Holding have received vast amounts of capital, enabling them to put rivals out of business by building their own ecosystem and developing new products. Chinese investors have been using this “winner-takes-all” strategy in India for the past few years, having seen it pay...
    Alice Shen
  • Question: What’s the latest mobile fad to seize China? Answer: Real-time quiz apps January 19, 2018 2:15 pm
    Chinese people are accustomed to the sight of attractive, doe-eyed young broadcasters singing and dancing for tips on their smartphone screens. For these internet “stars” the financial rewards have been vast. But now it seems the big money in China’s live-streaming industry is shifting, as a competition based largely on looks and questionable talent gives way to a battle of brainpower. Who doesn't want to win some money and have fun at the same time? Wang...
    Meng Jing
  • Venture capital investment in AI doubled to US$12 billion in 2017 January 18, 2018 11:01 pm
    Artificial intelligence, particularly its applications in health, finance and the automotive sector, attracted US$12 billion of investment from venture capitalists globally last year, double the volume in 2016, according to a report by KPMG. AI pushed total venture capital (VC) investment in China to a record high of US$40 billion in 2017, up 15 per cent from the previous year. How AI will change your life this year, from medical advancements to using your face as a credit card China accounted...
    Xie Yu
  • Venture capital could produce the next Jack Ma or Pony Ma in Southeast Asia, says MindWorks January 18, 2018 12:30 am
    Big opportunities abound in Southeast Asia for internet-savvy investors to nurture the growth of a new generation of technology entrepreneurs who can become the “Jack Ma and Pony Ma” of the region, according to venture capital firm MindWorks Ventures. Hong Kong-based MindWorks sees a funding gap in Southeast Asian markets like Indonesia in which the existing generation of tycoons who got rich running businesses in natural resources, property and industry may lack the knowledge to...
    Georgina Lee
  • Geely unit CaoCao promises to shake up China ride-hailing market after US$1.5b valuation January 17, 2018 11:15 am
    CaoCao Car, a unit of Geely Auto and electric car ride-hailing app, has completed its first major funding round, at a valuation of more than 10 billion yuan (US$1.5 billion), the company said on Wednesday. By raising 1 billion yuan from domestic and overseas investors in the Series A funding round, Hangzhou-based CaoCao signals a potential return of China’s ride-hailing price wars, as Geely – the country’s largest private carmaker – raises its stake in the hotly...
    Laura He
  • For the next generation of China’s technology giants, bet on electric cars and health care, banker says January 15, 2018 12:04 am
    Toutiao, Didi Chuxing and Meituan-Dianping have collectively occupied the spotlight as the next generation of Chinese internet giants, but companies ranging from sectors such as electric cars and health care also have exciting long term growth potential, according to one investment banker. “China is placing itself at the forefront of the push by the auto industry to ‘go electric’, especially given the central government’s supportive policies,” said Brian Gu,...
    Peggy Sito
  • Electric car start-up boss is willing to bet his entire fortune on beating Tesla January 14, 2018 11:00 pm
    What do you do for a next act if you’re in your 30s and sitting on millions from selling a successful mobile browser business to China’s biggest online commerce company? Early retirement? Cruise around the world? Buy an island in the Caribbean? If you’re He Xiaopeng, none of the above. Now 40, He has taken the money from selling his UCWeb browser business to China’s Alibaba Group and bet it on a car start-up to upend the likes of General Motors, Volkswagen and Tesla. It...
    Sarah Dai
  • Wrestling for access: how China, US firms are navigating technology’s separate universes January 13, 2018 12:00 am
    Chinese tech companies have cultivated a technology universe so large that it exists almost exclusively on its own – sustained by the country’s 1.4 billion people – but cut off from the rest of the world by Beijing’s Great Firewall which blocks content not approved by the government. Outside the firewall, a parallel internet ecosystem exists where companies banned in China, like Facebook, Google and Twitter, market their products to the remaining six billion people on...
    Zen Soo, Sarah Dai
  • Chinese firm eDaijia ends service to outsource alcohol consumption to surrogate drinkers January 10, 2018 11:00 am
    People looking to land a job as a surrogate drinker in China’s gig economy need to find another occupation. Chinese technology start-up eDaijia, which runs a popular mobile app that links inebriated car owners with substitute drivers, has terminated a new service that allowed users to summon surrogate drinkers. Just weeks after its introduction, the new feature called eDaihe, which means “to drink on behalf of” in Mandarin, is no longer on the eDaijia app as of ...
    Meng Jing
  • CES becomes the Chinese electronics show as Shenzhen, Dongguan exhibitors throng fair January 9, 2018 12:30 pm
    One of the world’s largest consumer electronic trade shows may have earned a new sobriquet this year, as one in every three exhibitors at the 2018 CES hailed from China, underscoring the country’s transformation from a manufacturer of low-value goods into technology-related products. As many as 1,551 Chinese companies registered to display their products and software applications in Las Vegas this week, out of a record turnout of 4,500 exhibitors, according to the Consumer...
    Celia Chen
  • Chinese online retailer surges 25 per cent in New York after saying it will take bitcoin payments January 9, 2018 7:38 am
    Shares of Chinese online retailer LightInTheBox surged by more than a quarter on the New York Stock Exchange early on Monday, after the company announced it had started to accept payment in bitcoin. The Beijing-based firm is the latest in a growing list of companies keen to involve themselves with digital currencies in an attempt to woo investors. Many companies in China and abroad have had their stocks soar as a result of doing so, despite the Chinese authorities’ increasingly vocal...
    Jane Li
  • Chinese-backed electric car start-up Byton woos CES with model 40pc cheaper than a Tesla January 8, 2018 2:15 am
    Byton, a Chinese-backed electric car start-up, plans to challenge Tesla in the US with a mid-sized SUV that features Amazon’s voice assistant Alexa and a 49-inch, edge-to-edge dashboard display. The company is touting it as the first “smart intuitive vehicle” and a digital living room on wheels, and it will cost about 40 per cent less than a Tesla Model X. Byton, led by former BMW executive Carsten Breitfeld and Infiniti China head Daniel Kirchert, unveiled its concept SUV at...
    Sarah Dai, Zen Soo
  • Will anyone still buy coffee with bitcoin? Digital currency’s surge impairs its usefulness in real life January 7, 2018 4:16 am
    Bitcoin’s soaring transaction fees, following the digital currency’s 1,300 per cent surge in value in the past year, have made it practically useless as a token of exchange in Hong Kong. The fees, which must be paid for a bitcoin transaction to be processed and confirmed by the network, soared from an average of 14 US cents per transaction in early 2016 to a peak of US$37.49 on December 21, before falling to US$16 on January 1. Users must bid to process their transactions first...
    Josh Ye
  • How ‘China’s Steve Jobs’ bit off more than he could chew and saw his tech empire collapse January 6, 2018 12:16 am
    Jia Yueting, the founder of the beleaguered LeEco technology conglomerate, does not believe in half measures or in the impossible. From a humble start as the “IT guy” at a county taxation bureau in China’s northern Shanxi province, Jia struck out as a 23-year-old and over two decades built an empire that spanned internet video streaming and connected bicycles to smartphones and virtual reality headsets. At one point, he was the 17th richest person in China, a billionaire,...
    Meng Jing, Zen Soo
  • Hong Kong must take a lead in tech listings or forever play catch-up January 4, 2018 5:32 am
    The changes to Hong Kong stock exchange’s listing rules last month seemed reluctant and timid, considering how profound the consequences are likely to be. The dilemma facing Hong Kong Exchanges and Clearing (HKEX) for years was about more than being arbitraged against other stock exchanges over dual-class shares and losing the listing business of world-class mainland tech companies. The deeper malevolence is that there are no rational reasons for management or owners of a listed company...
    Peter Guy
  • China’s most popular news app Toutiao hiring 2,000 content reviewers, with Party members top of its target list January 3, 2018 11:17 pm
    Jinri Toutiao, China’s most popular news app, shut down for 24 hours last week, is on the immediate lookout for 2,000 “content reviewers” in a bid to clean up its act, with Communist Party members believed to be considered its preferred choice, according to online job adverts. Valued at US$30 billion, according to the latest media reports, the app’s parent company Beijing Bytedance Technology is now among the world’s most valuable privately held technology start-...
    Jane Li, Meng Jing
  • Didi Chuxing to expand reach into China’s bike-sharing market with acquisition of Bluegogo January 3, 2018 7:31 am
    More than a year after taking over the operations of Uber Technologies in China, Didi Chuxing is looking poised to drive consolidation in the country’s bike-sharing market with its reported purchase of bankrupt start-up Bluegogo. Didi, which counts hi-tech giants Apple, Tencent Holdings and Alibaba Group Holding among its biggest shareholders, has agreed to acquire what was once the country’s third-largest bike-sharing operator, according to reports by Caixin and news site 36kr.com...
    Sarah Dai
  • Here’s why China may regret the Pyrrhic victory of winning the global artificial intelligence race January 3, 2018 5:53 am
    After the AlphaGo computer program from Google’s parent Alphabet beat China’s top Go player Ke Jie three for three in May last year, the 19-year-old was in tears, declaring his opponent “God-like”. Chinese authorities had earlier cancelled planned live broadcasts of the deciding matches. Two months later, China’s State Council announced an ambitious national programme to overtake the United States in artificial intelligence (AI) by 2030. Coincidence? Perhaps, but...
    Craig Addison
  • Silicon Valley elites are spending US$37 for less than three gallons of dangerous, unfiltered water — and it’s flying off the shelves January 3, 2018 4:30 am
    By Kate Taylor Silicon Valley is developing a “raw water” obsession. In San Francisco, “unfiltered, untreated, unsterilised spring water” from Live Water is selling for US$36.99 for a 2.5 gallon jug — and flying off the shelves, the New York Times reported. Start-ups dedicated to untreated water are gaining steam. Zero Mass Water, which allows people to collect water from the atmosphere near their homes, has already raised US$24 million in venture capital...
    Business Insider
  • LeEco’s Jia stays in US chasing his electric car dream, leaving wife and brother to handle crumbling empire January 2, 2018 10:15 am
    Jia Yueting, the troubled LeEco entrepreneur, is prolonging his stay in the US, after missing the deadline set by a city securities regulator which ordered him to return China before the end of 2017. In a personal message sent Tuesday morning on his WeChat account, replying to an order made last week by the Beijing Securities Regulatory Bureau, Jia said he had asked his wife and younger brother to represent him handling regulatory questions on billions of debt back in China, but that he...
    Xie Yu
  • China’s ride-hailing king channels Genghis Khan in preparation for a new price war January 1, 2018 12:00 am
    The man who battled Travis Kalanick to a standstill and forced Uber Technologies to pull out of China is unperturbed by talk of a challenger to his ride-hailing throne. “If you want war, you will get war,” Cheng Wei, the co-founder and chief executive of Didi Chuxing, the world’s biggest ride-hailing company, said in a recent interview with Caijing Magazine. Cheng, 34, was quoting 12th-century Mongolian warrior-ruler Genghis Khan, whose empire spanned Asia to the Adriatic Sea...
    Sarah Dai
  • How toilet paper-sharing is a warning sign that China’s start-up fervour is overheating December 29, 2017 11:00 pm
    As an analyst covering tech start-ups in China, Zhao Ziming has seen some really wacky ideas cross his desk. Even so, he was surprised by his cousin, who was preparing to launch a start-up to share rolls of toilet paper. “My cousin said he always cannot find toilet paper in the restrooms in most office buildings in China, so he is going to start an app to share toilet paper, at one yuan for a roll,” said Zhao, who works for Beijing-based consultancy Cyzone. “I told him that...
    Celia Chen
  • Alibaba-backed EV start-up bids to challenge Tesla with launch of first production car at CES December 29, 2017 9:33 am
    Xiaopeng Motors, the electric car start-up backed by Alibaba Group Holding, is poised to take a big step forward in its goal to challenge Tesla, when its first production electric sport utility vehicle is unveiled at the annual CES trade show in Las Vegas next month. The high-profile launch in the world’s biggest consumer electronics show would mark a major milestone for the Guangzhou-based company known as Xpeng, as its latest 5 billion yuan (US$765 million) financing round is expected...
    Sarah Dai
  • Change the rules and they will come: Tech firms are knocking on Hong Kong’s doors to raise capital December 28, 2017 11:01 pm
    Technology companies are knocking on the Hong Kong stock exchange’s doors, making inquiries about raising capital under new listing rules, in a sign that the biggest overhaul of regulations by the bourse in three decades may be showing the desired effect. More than 10 companies involved in e-commerce, online payments and biotechnology, mostly based in mainland China, have sought out information from Hong Kong Exchanges & Clearing (HKEX), according to the bourse operator’s...
    Enoch Yiu
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