China business

Daily Digest

July, 2021

July.16, 2021

1. China kicks off national carbon-trading exchange, using market prices to put nation on track to reach 2060 neutrality goal

2. China’s semiconductor output hits record high as Beijing boosts local production amid intensifying US-China tech war

3. Xiaomi surpasses Apple for the first time, becoming the world’s No 2 smartphone vendor as Huawei recedes

4. Tencent-backed Chinese ecommerce firm Xiaohongshu halts US listing plans

5. Toutiao ordered by China to halt new registrations since Sept

6. Underwear Brand NEIWAI Completes D Round of Financing orf $100 Million

7. CATL Reaches Strategic Cooperation with Tencent Cloud to Jointly Build AI Innovation Base

8. Alibaba’s map app AutoNavi evolves into open service platform

9. Unmanned Delivery Firm White Rhino Auto Receives Nearly $10 Million in Pre-A Funding

July.15, 2021

1. Alibaba and Tencent to Open up Services to Each Other

2. Xiaomi Hires More People for Autonomous Driving

3. Kuaishou adds informative livestreamed content as growth in entertainment vertical stalls

4. Meituan receives $400 million from Tencent to boost autonomous delivery

5. Logistics major Lalamove mulls shifting IPO from US to Hong Kong

6. Zebra Zhixing 斑马智行, which focuses on the research and development of autonomous intelligent automobile operating systems, receives capital increase of ¥3 Billion

7. IFC proposes $76m investment in Chinese waste recycling firm GEM

8. Moying Robotics closes Series A for advanced logistics automation

9. China’s pastry brand Tiger Attitude nets nearly $50m in Series A round

10. Alibaba-backed fashion rental app YCloset shuts down after five years

July.14, 2021

1. Guangdong plans to build regional data centre in Shenzhen with coverage of Hong Kong and Macau

2. China market regulator approves Tencent’s $3.5 bln deal to take Sogou private

3. Meituan relaunches ride-hailing app amid Didi investigation

4. HeyTea Completes Financing Round Worth $500 Million, Raising Market Value to $9 Billion

5. Alibaba to anchor $258m fund for startups in China’s Greater Bay Area

6. Alibaba to Acquire Unisplendour Co. in Effort to Build up Cloud Computing Infrastructure

7. Alibaba Establishes Artificial Intelligence Governance Laboratory

8. Alibaba-backed logistics major GoGoX banks $100m in fresh funding

July.13, 2021

1. China tightens cybersecurity reviews on overseas IPOs.

2. China’s TMT-focused investor XVC seeks to raise $325m for third venture fund.

3. ByteDance reportedly scrapped a planned IPO after meeting with Chinese officials

4. NLP trailblazer Xiaoice gains unicorn status after closing Series A from Hillhouse, GGV Capital.

July.12, 2021

1. Chinese antitrust regulator blocks Tencent’s $5.3 bln video games merger

2. EV maker Nio to have 4,000 battery swapping stations globally in 2025

3. Gree strikes deal with Huawei to use HarmonyOS in home appliances

4. Xiaomi Acquires an Autonomous Driving Technology Company DeepMotion, as Industry Competition Heats Up

5. Chinese edtech firm Kaikeba secures $93m in Series B1 round

July.9, 2021

1. Xiaomi raises $1.2 billion in debt as Beijing targets the tech sector

2. Didi removed from China’s WeChat and Alipay apps for new users in another big blow

3. Pony.ai Launches Robotaix Service in Shanghai

4. Rumor: Chinese convenience store chain startup bianlifeng files for US listing

5. Children’s content creator BabyBus seeks Hong Kong IPO

6. Southeast Asia is the fastest-growing mobile wallet market globally, report says