Here are the articles we found most interesting and relevant for our clients this past week.

1.Alibaba-backed courier firm Yunda injects USD 86 million into Deppon Express

Logistics company Yunda Holdings has made an RMB 614 million (USD 86 million) strategic investment in courier firm Deppon Express and is to be the latter’s second-largest shareholder with a 6.5% stake, according to the duo’s announcements.

2.Cybersecurity firm Qihoo 360 added to US Entity List

The US has added Beijing-based Qihoo 360, a cybersecurity software firm, onto its Entity List, citing national security and foreign policy interests, according to an announcement from Department of Commerce’s Bureau of Industry and Security on Friday.

3.Chinese e-commerce firm sells houses via livestream

Chinese e-commerce company JD.com commenced a livestream sale lottery on Friday of Beijing apartments worth over USD 36 million in total, according to a press release of the company.The CEO of JD Retail inaugurated the event, with 1,000 homes on sale, as the first streamer, offering a 38.2% discount for a new Beijing apartment.

4.Grocery delivery firm MissFresh closes new fundraising round

Beijing-based on-demand grocery delivery startup MissFresh has closed a new round of financing, bagging an undisclosed sum from investors including CICC Capital. Previously, the startup has been valued above USD 3 billion.

5.New IPO system to transform securities sector

China is likely to embrace large investment banks in a real sense, with the registration-based initial public offering system reshaping the country’s securities industry.

6.TikTok user spending hits USD 78 million in April, leads YouTube to become world’s top-grossing non-game app

Global short video sensation TikTok, combined with Chinese version Douyin, recorded more than USD 78 million in user spending in April to move ahead of YouTube and become the world’s highest earning non-game app.

7.Singtel Innov8 invests in Chinese data visualization startup DataHunter

Data visualization software and hardware provider DataHunter has closed its Series B round, bagging an undisclosed amount of money from investors led by Sintel Innov8, the venture capital arm of Singaporean telecommunication carrier Singtel Group, according to DataHunter on Monday.

8.Shanghai helping firms find customers

The municipal government of Shanghai has rolled out a number of measures to salvage export-driven companies whose business has been hammered by shrinking overseas demand due to the COVID-19 pandemic.

9.Tech giants to roll out solutions for digital expo

Chinese technology powerhouses are racing to roll out digital expo solutions as the COVID-19 epidemic temporarily bars businesses from offline connections. Tencent Cloud, a leading provider of cloud computing services of Tencent Holdings Ltd, has just unveiled a new digital solution for hosting online exhibitions.

10.Tencent announces USD 70 billion investments amidst China’s new infrastructure stimulus push

Chinese internet giants are scrambling to unveil in succession billion worth of investments that echo with the “New Infrastructure” stimulus project the country introduced earlier this week at its annual Two Sessions parliamentary meetings.

11.China’s digital currency not set for launch as trials are “just routine”, central bank governor cools speculation

China still has no timetable for launching its much-hyped sovereign digital currency, with limited public trials that will begin soon just “routine parts of the research and development process”, China’s central bank governor said.

12.Kuaishou and JD.com ink partnership to boost presence in China’s booming livestream e-commerce industry

Short-video app Kuaishou and e-commerce giant JD.com have teamed up to lure more users to buy goods via livestreaming, the two companies announced in a press release on Wednesday.

13.Startups face fight to weather health storm

Startups in Asia face a battle for survival during the ongoing global economic downturn resulting from the COVID-19 pandemic.The decline appeared inevitable in view of the massive turbulence in global financial markets caused by the pandemic.

14.Chinese tech giant Tencent raises $6b in debt

Tencent said it has raised a total of US$6 billion in debt across multiple series of notes.

 

 

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