The official app of China’s fledgling digital currency, e-CNY, reached 261 million unique users by the end of 2021, nearly double the number in October, reports the South China Morning Post. The app is still being trialed and will be properly released in app stores later this month. The digital yuan, officially known as the […]
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Embattled Chinese telecoms equipment giant Huawei has been given a new license by the Asset Management Association of China meaning it can scout for external capital. The company is trying to secure its supply of semiconductor chips in the face of a US blacklist, reports Reuters. The United States, which alleges that Huawei’s equipment could be used by Beijing for spying, […]
Shopify, a Canadian e-commerce firm, has announced a strategic partnership with China’s JD.com which will allow US-based sellers access to JD’s Chinese customers, reports Reuters. The partnership comes amid tight competition in the e-commerce space in China that includes major players like Pinduoduo, Alibaba and Douyin. Financial terms of the agreement were not disclosed. The […]
The world’s biggest hydropower generator, China Three Gorges Corporation, is set to add solar and wind capacity in an attempt to diversify its revenue streams as the age of mega-dams draws to a close, reports Bloomberg. The state-owned firm currently has capacity to generate about 26 gigawatts of electricity using solar panels or wind turbines, […]
China’s largest manufacturer of electric-car batteries, Contemporary Amperex Technology Co (CATL), has launched EVOGO, a new battery-swapping service that will allow the company to benefit from the rapidly growing new energy vehicle market in the country, reports the South China Morning Post. EVOGO’s services, offered via a mobile app, will allow users to change their […]