Chinese video-streaming start-up Kuaishou approaches $1 billion at the end of a funding round led by tech giant Tencent, with hopes to go public within the year, sources told Reuters. Kuaishou (“fast hand”), founded just seven years ago, has received much attention from investors looking to capitalise on the rapid growth of live streaming in […]
Category: Business Practice
Qualcomm Technologies Inc. has strengthened business ties with Lenovo, Oppo, Vivo, and Xiaomi, signing memorandums of understanding for sales of at least $2 billion over the next three years, Reuters reports. The agreement remains non-binding and is due to undergo further amendments and discussions relating to RF Front-End components, Qualcomm said in a statement. The move […]
Chinese ride-hailing giant Didi Chuxing is gearing up for another costly price war by reintroducing subsidies for drivers, Caixin reports. The company has quietly introduced a special membership card scheme in seven cities, including Shanghai and Beijing, where drivers holding the card will be able to receive extra monthly pay, a subsidy in all but name, sources […]
China’s renewed focus on curbing financial risks may have the unintended consequence of making life tougher for small companies, a key engine of job growth that the government has sought to promote, according to Bloomberg. The government has been cracking down on any funding channels that fuel speculation or asset bubbles since the start of 2017, […]
Beijing will pull down a minimum of 40 million square meters of illegal structures, an area 28 times larger than London’s Hyde Park, and close down 500 manufacturing companies by the end of 2018, Reuters reports. The city’s acting mayor, Chen Jinings, aid in an annual work report Wednesday that the local government would ensure “zero increase of such […]