• ViaBTC to launch bitcoin exchange overseas after Beijing bans trading at home September 22, 2017 4:55 am
    Chinese bitcoin exchange ViaBTC plans to open an overseas platform after the government ordered the closure of all cryptocurrency exchanges on the mainland. “A third of our customers come from outside China, and I believe these overseas users will continue to use the ViaBTC platform, so we can still provide value,” said Yang Haipo, chief executive of the exchange during a global blockchain event in Hong Kong on Thursday. He said there was no time frame yet to relaunch the platform...
    Zen Soo
  • Hong Kong needs to throw more caution to the wind when it comes to backing start-ups September 21, 2017 10:30 am
    The Hong Kong government is trying to transform the economy from its traditional to a new innovative economy, but doesn't realise that creative failure rather than cautious success will lead the way. Last week, Hong Kong launched its HK$2 billion (US$256 million) Innovation and Technology Venture Fund (IVTF) to encourage investment in local innovation and technology start-ups in an effort to improve economic activity. The government is inviting venture capital funds to apply...
    Peter Guy
  • Chinese online stockbroker Tiger Brokers gets investment from US firm Interactive Brokers September 21, 2017 7:14 am
    Tiger Brokers, a Chinese online securities brokerage start-up backed by Wall Street billionaire investor Jim Rogers, said on Thursday it has landed an investment from Interactive Brokers Group, one of the largest electronic brokers in the United States. The Beijing-based Tiger Brokers, which offers an app to allow Chinese investors to trade on US stock markets and the Hong Kong exchanges and in Chinese A shares, did not disclose the size of the investment by Interactive Brokers. “By...
    Meng Jing
  • Mobike debuts bike sharing in Washington, reflecting latest move in arms race with Ofo September 20, 2017 1:45 pm
    Chinese bicycle-sharing giant Mobike has debuted in the US market with its entry into Washington, a month after rival Ofo launched its services in Seattle as the two companies vie for market share around the world. “We are thrilled to call Washington DC Mobike’s first home in North America,” said Hu Weiwei, co-founder and president of Mobike in an emailed statement. “Mobike is committed to developing a global bike share culture by collaborating closely with cities, and...
    Zen Soo
  • Hutchison Telecom to usher in new era of fully ‘connected’ devices September 20, 2017 11:19 am
    Hutchison Telecommunications Hong Kong, the city’s second-largest mobile network operator, has opened the industry’s first large-scale internet of things infrastructure, which steps up the company’s preparations for future 5G services and advances the government’s ambitious “smart city” initiative. The new capability, being offered under the Three Hong Kong brand, the mobile arm of Hutchison Telecom, was built with equipment from supplier Huawei Technologies...
    Bien Perez
  • Uber probes bribery in Asia business amid US criminal probe September 20, 2017 4:48 am
    Uber Technologies Inc., facing a US federal probe into whether it broke laws against overseas bribery, has embarked on a review of its Asia operations and notified US officials about payments made by staff in Indonesia, people with knowledge of the matter said. As the US Justice Department looked into a possible criminal case, Uber was working with law firm O’Melveny&Myers LLP to examine records of foreign payments and interview employees, raising questions about why some potentially...
    Bloomberg
  • Tech industry’s best talent demand market’s flashiest offices September 20, 2017 1:01 am
    Tech firms are fast becoming the most willing to fork out for prime offices sites in some of Asia’s biggest city centres, according to the region’s top property agents, some in a simple effort to lure the best talent to work for them. While some tech companies in London have already started clustering themselves around what’s now being dubbed “Silicon Roundabout”, which is close to the traditional financial district, The City – similar groupings are being...
    Yujing Liu
  • Why Shanghai is a hub for lifestyle tech start-ups, and how quickly ideas can reach scale there when the stars align September 19, 2017 11:15 pm
    Erik Walenza-Slabe, director of the Shanghai chapter of start-up community Start Up Grind, says the pace of growth in recent years of Shanghai’s start-up scene is frightening. “China is unlike any other country – including the USA – in its ability to rapidly scale when both market forces and the government are aligned,” he says. Chinese start-up racing against Tesla to test robot trucks When the Shanghai chapter of Start Up Grind opened four years ago, the...
    Jing Zhang
  • Short-form online videos starting to dominate Chinese screens September 18, 2017 10:33 am
    Short-form online videos are exploding onto China’s millions of mobile screens, and their consumption and share of the advertising market, are expected to mushroom over the next couple of years. Mark Zuckerberg has called shorter “video a megatrend, almost as big as mobile” on numerous occasions over in the past year – and despite will having Facebook blocked in the mainland, the co-founder of the world’s most popular social network is sure to have China foremost...
    Yujing Liu
  • What’s drawing Chinese internet giants to Indian, Southeast Asian tech scenes? September 17, 2017 2:00 am
    China’s internet giants are ramping up investment in India and Southeast Asia, highlighting the potential for growth in the regions’ vibrant tech scenes and positioning them as the next battlegrounds in their bid for global dominance. Nearly US$5 billion in funding flooded into Southeast Asia’s tech start-ups in the first seven months of this year – already exceeding the US$3.1 billion throughout the whole of last year, according to New York-based research firm CB...
    Resty Woro Yuniar
  • Hong Kong launches HK$2 billion fund to support tech start-ups September 15, 2017 7:06 am
    Hong Kong has launched a HK$2 billion (US$256 million) fund to encourage investment in local innovation and technology start-ups, in an effort to boost new economic activity. The government said on Friday it is inviting venture capital funds to apply to become co-investment partners of the new Innovation and Technology Venture Fund (ITVF). “The ITVF will help fill the funding gap for local technology start-ups. We are confident that having this new fund will be conducive to developing a...
    Laura He
  • Securities watchdog’s retreat on new share listings paves way for dual-class shares September 15, 2017 12:01 am
    The Securities and Futures Commission, Hong Kong’s stock market industry watchdog, will not be taking a front-row seat in new listing approvals, meaning the city can now push ahead with plans to launch a new market for dual-class shares in an effort top lure technology companies in particular to list here, according to brokers. “The retreat by the SFC from taking a frontline role in approving new listings means HKEX (Hong Kong Exchanges and Clearing) and the listing committee can...
    Enoch Yiu
  • BTC China to halt bitcoin trading amid reports of blanket ban September 14, 2017 2:25 pm
    BTC China, a major bitcoin exchange platform in China, said on Thursday that it will suspend all trading at the end of the month. The announcement comes amid intensifying rumours that all domestic bitcoin exchanges may be facing closure as the government cracks down on cryptocurrencies, which have been traded beyond the scope of regulators. Several news organisations have reported that Beijing was preparing to place a blanket ban on trading in virtual currencies, but such a move has not been...
    Li Tao
  • Top Chinese dating site Baihe’s shares fall after WePhone founder’s suicide sparks questions over data verification September 13, 2017 11:30 pm
    Shares of Baihe.com, which owns China’s largest online dating website, plunged by almost half after the site was accused of failing to verify personal information about a woman who allegedly drove her ex-husband, a successful technology entrepreneur, to suicide. Su Xiangmao, 37, the founder of the Skype-like WePhone app, killed himself last Thursday and left a note accusing his ex-wife of lying when they met through jiayuan.com’s VIP service and blackmailing him when their one-...
    Laura He
  • China takes gold in race to develop billion dollar start-up ‘unicorns’ September 13, 2017 11:30 am
    China’s vast population of internet users have helped to foster a unique environment where start-ups can enjoy huge success in an unusually short period of time, according to new research. Unicorns, or companies that have a market value of US$1 billion or more, are being nurtured in China at a rate that eclipses their US counterparts, according to a joint report by Boston Consulting Group, Alibaba Group, Baidu and Didi Chuxing. The report, released Wednesday in Beijing, examined the...
    Sarah Dai
  • Three areas tabbed as key to fintech start-up growth September 12, 2017 4:00 am
    By Suchit Leesa-Nguansuk Financial institutions should work with financial technology (fintech) start-ups in three main categories to complement each other’s know-how, says a global research firm. Payment, remittance and customer analytics are growing fintech areas in which banks and fintech startups can collaborate, as banks have customer skills and data, while start-ups offer innovative services and are dynamic, said Michael Araneta, associate vice-president of IDC Financial...
    Bangkok Post
  • What will it take for GoGoVan’s founder to raise capital in his hometown, Hong Kong? September 9, 2017 4:15 am
    Now that GoGoVan has become Hong Kong’s first billion-dollar start-up, will the three founders of the on-demand van hire service pick their hometown if they ever need to raise capital to fund their expansion? “We definitely have a plan to be listed in Hong Kong,” said Steven Lam Hoi-yuen, chief executive officer and co-founder of the company, during a Beijing interview with the South China Morning Post. “That’s one of the goals as a Hong Kong company, and that...
    Amanda Lee
  • Hong Kong regulators to push for greater clarity in fintech market guidance to help companies develop September 8, 2017 1:03 am
    Hong Kong’s securities, banking and insurance regulators are looking to offer greater guidance on financial technology innovation in the city, following recent developments in the adoption of blockchain, artificial intelligence and so-called initial coin offerings (ICO). That would provide the local economy’s growing number of fintech start-ups and more established enterprises with increased clarity on how to pursue initiatives driven by those technologies, according to the...
    Bien Perez
  • Hong Kong start-up wants to put an end to smartphone battery woes September 8, 2017 1:03 am
    A Hong Kong start-up hopes it has the cure for the panic faced by smartphone users when their devices run out of power and they have no way to charge their phones while on the move. MobiJuce, developed by Silicon Valley veterans, is launching an app-based power bank rental service in October, and hopes to make the service available at over 1,000 locations by early next year – including retail shops, convenience stores, transportation stations, shopping malls and restaurants. A poll this...
    Harminder Singh
  • Chinese start-up racing against Tesla to test robot trucks on roads of Arizona and Shanghai September 7, 2017 11:44 am
    A Chinese start-up with powerful backing plans to test a fleet of self-driving trucks in Arizona and Shanghai next year, competing with Uber Technologies Inc. and Alphabet Inc.’s Waymo in transforming the way goods are delivered. Haulage is ripe for disruption by automation because the industry faces a growing shortage of drivers and transporting cargo between fixed points is less complicated than city driving, says Chen Mo, 33, co-founder and chief executive officer of Beijing-based...
    Bloomberg
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