Tag: china

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Business Cryptocurrency Tech

China Blockchain Services Network to Launch NFT Minting and Marketplace Service in China

ripple etehereum and bitcoin and micro sdhc card
Photo by Worldspectrum on Pexels.com

It has been announced that China’s state-backed Blockchain Services Network (BSN) will soft launch infrastructure for NFTs in China.

BSN said the infrastructure, known as BSN-Distributed Digital Certificates (BSN-DDC), would offer “a diverse, transparent, credible and reliable” one-stop-shop for businesses to mint and manage their own NFTs without relying on cryptocurrencies, which are banned in China.

This will be a very interesting experiment from the Chinese Government as the vast majority of NFTs in the world at the moment are based off the Ethereum network.

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Business Tech

Tencent Sells Giant Stake in JD.com – Dropping its ECommerce Share

JD.com logo

Tencent is a giant in the world of Chinese technology and beyond. Today they have announced that they will be selling most of its stake in JD.com.

Tencent will reduce is staking from 17% to 2.3%.

The proceeds will help Tencent provide shareholders with a $16.4 billion dividend.

After long being JD’s largest stakeholder, Tencent will give the title to Walmart.

This seems to be a Tencent strategy that has paid off in the long term. Instead of Tencent looking to acquire many companies in adjacent industries – they have decided to acquire minority stakes in a huge number of technology companies globally.

Why?

Its far easy to own more when you own a minority. If Tencent were to acquire more companies – they would have issues with Government and regulator approval.

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Business Finance Tech

Didi Delisting from the NYSE and Moving to the Hong Kong Stock Exchange

didi ride giant moving to the hong kong stock exchange

Chinese ride-hail giant DiDi said it will delist from the New York Stock Exchange, following a Chinese government crackdown on foreign listings. (via Axios)

Didi is the Uber of China (and beyond) and it seems as though their progress might be hindered with growing geopolitical tensions between the US and China.

The delisting will occur soon and Didi will move trading across to the Hong Kong Stock Exchange.

The Hong Kong Stock Exchange has been know to have lower general multiple than its US counterparts.

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Tech

Telstra Ventures – Bullish on the Chinese Technology Sector and Private Companies in China

telstra ventures

Even though there has been a huge crackdown in the Chinese Tech companies – it seems like there are still many Venture Capital firms that are bullish on the future of the Chinese Tech sector.

One venture firm that is looking for more opportunities is Telstra Ventures. Telstra Ventures is the venture capital arm of Telstra – Australia’s largest telecoms company.

Telstra has been investing in China for the past six years. It now counts three Chinese unicorns in its portfolio.

Keep an eye on Telstra Ventures investments as it seems like their research is finding some of the best opportunities in the Chinese Tech sector.

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Business

Simon Hu is Stepping Down as CEO of Ant Financial

Breaking: Simon Hu is stepping down as the CEO of Ant Financial.

Ant Financial have been under huge scrutiny by the Chinese Government since they announced that they were going to try to IPO.

The Ant Financial IPO was going to be one of the biggest IPOs of all time.

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Tech

DJI on the Banned US Trade List – Wont Affect the Company Day to Day

dji studio

The US Commerce Department recently announced that DJI is now on the US Trade Ban list.

DJI has since come out and stated that Americans will be able to continue to buy and use its products “normally” despite the companies presence on the list.

This ban only affects the companies from purchasing parts from American companies, so I’m assuming DJI saw this ban coming and already had a plan B supply chain in place ready to go at any time.

I’m not entirely sure how a drone company is helping to support human rights abuses in China. It seems like if this is the case then all Chinese companies will be in the same position!

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Tech

Baidu Shares Jump 14% as it plans to Enter the Electric Vehicle Market

baidu electric vehicle

Baidu shares rose 14% on Tuesday after news was announced that the Chinese search engine based company was planning on building their own electric vehicles.

Its great to see that Chinese technology companies are starting to think about the EV sector and how they can disrupt the auto industry. Alibaba has also partnered with Chinese automaker SAIC to develop premium EVs for the Chinese market.

It will be interesting to see how this unfolds as technology companies are very well placed to enter this market and make huge disruptions in the same way Tesla has.

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Tech

True Technology Innovation Coming From Asia and the Developing World

vr-2020 true innovation

When I read most of the leading technology sites like The Verge or TechCrunch or Business Insider there is a distinct focus on US based technology companies (with a hint of EU), which of course is understandable. However, I find myself these days wanting to find more about companies in Asia or the Developing World. This is where true innovation will come from!

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Business

Blackstone Group Investing $5 billion in Second Asian Fund (China and India Focus)

Blackstone

Blackstone Group is looking to raise $5 billion for its second Asian fund.

Blackstone is seeing huge potential in Asia and really wants to invest heavily and faster than ever before. Around 66% of their first fund $2.3 billion has been invested.

Blackstone see’s great growth potential in China and India and really wants to get a foot in those markets before they mature.

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Gaming

PUBG Mobile Terminated For All Indian Gamers on October 30th

It has been confirmed that PUBG Mobile will be removed for all Indian users on the 30th October – this accounts for 50 million Indian gamers.

India banned PUBG Mobile Nordic Map: Livik and PUBG Mobile Lite, along with over 100 apps with links to China on September 2.

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Business

Reserve Your Cybertruck Now Live in China on Tesla Website

Tesla Cybertruck orders in China.

Tesla is now officially taking Cybertruck orders in China. You can head to the Tesla website to reserve your Cybertruck.

The Cybertruck has such a unique design I’m sure there will be a lot of upper class Chinese who would love to be driving around in such a car. Really makes a statement.