On Wednesday, Lei Jun, Co-Founder and CEO of Xiaomi, announced via his Weibo account that Xiaomi Auto Co. Ltd has been officially established, with registered capital of 10 billion yuan ($1.5 billion).
If Didi Chuxing Technology Co., the Uber of China, succeeds in the initial public offering in 2018, it will bypass Uber to become the world’s first publicly listed ride-hailing company.
As of March 2018, there are 126 unicorn companies in China across 15 industries and 10 cities, with a total valuation of $625.3 billion, or about four trillion yuan.
More and more foreign figures send greetings to the Chinese people for the Spring Festival.
During the first half of 2017, Apple faced a series of problems in the Chinese market including declining revenue and market share. Isabel Ge Mahe was appointed the first ever Vice President and Managing Director of Apple Greater China during this time.
Chinese users no longer need to fret over the choice between downloading music from NetEase Cloud Music or Tencent Music.
Google is on the move in China. In December 2017, Google established the AI China Center in Beijing, led by Fei-fei Li, chief scientist of Google Cloud, and Jia Li, the head of research and development in AI and ML. In mid-January, Google confirmed the news it would set up an office in Shenzhen.
Missfresh partner Xiao-hui Xu announced at the Third A20 New Agricultural Festival on December 24 that Missfresh would complete a new round of financing next week. The capital obtained will be used for unmanned convenience sales.
Competition in the field of driverless cars is intense, and Baidu is suing its former senior executive.
At the annual staff meeting on December 15, Tencent chairman and CEO Pony Ma, President Martin Lau, COO Ren Yuxin and Senior VP Zhang Xiaolong spoke about the company’s performance and the year ahead.
XPENG has finished its A+ round financing and plans to announce B round financing in early 2018, XPENG Motors Chairman He Xiaopeng said in a Weibo post on December 15. Investment in this round of financing came from Xiaomi, Foxconn and IDG.
SF Express Holding announced its wholly owned subsidiary Shenzhen SF Tyson Holdings had signed a cooperation agreement with the Hubei Provincial Government. SF will build the world’s fourth and Asia’s first professional freight airport in Ezhou.
It has been 11 years since Twitter established itself as a new platform for social communication. In that time, it has become one of the world’s most important websites even though it has yet to “grow up”. In doubt? Try following @realDonaldTrump.
On December 1, at the A.IDEAS Forum, Toutiao announced the establishment of the Bytedance Strategic Technology Committee. Its first members included professor John E. Hopcroft, a Turing Award winner, Gao Wen, a professor at the Chinese Academy of Engineering, as well as Zhang Ba, a professor at the Chinese Academy of Sciences.
Google is not sitting idle while China’s IT giants increase their investments in the AI sector. At the media event held in Tokyo, Jeff Dean, the director of Google Brain, said the company is establishing its AI team in China, and is mainly recruiting in Beijing and Shanghai.