China Now Has a Trust Issue with Tesla over Spy Concerns
Tesla CEO Elon Musk responded to concerns of Tesla spying for the U.S. government.
Category: Industry
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Ofo to Lay Off 70% of U.S. Workforce and Shut Down Operations in Multiple U.S. Cities
The Chinese bike-sharing startup ofo confirmed with Quartz that the company is laying off employees in its North American marketing, communications, and enginee...
New Oriental Upgrades College Student Business under the Pressure of Double Reduction Policy
On September 25th, Chinese tutoring giant New Oriental held a press conference, saying that it will completely overhaul its existing projects offered to college students.
9/26/20213 min read
UGREEN Gearing Up for IPO on ChiNext
UGREEN, a Shenzhen-based consumer electronics company, submitted a prospectus to the Shenzhen Stock Exchange on June 2 as it plans to carry out an IPO on the ChiNext.
6/6/20223 min read
Meituan Share Price Falls 7% Ahead of Unaudited Quarterly Financial Report Release
Chinese e-commerce giant Meituan on Nov. 30 released its unaudited financial results for the third quarter of 2020 ended Sept. 30, with share price falling about 7% in Hong Kong before its third-quarter results were published.
12/1/20203 min read
Waterdrop Raises $230M in Series D Round
This is arguably the world’s largest financing round in the online InsurTech industry so far this year.
8/21/20202 min read
Tencent Cloud Releases Low-cost Digital Human Production Platform
Tencent Cloud publicly announced its digital human production platform on April 25th. The platform boasts several features, including small training samples, high production efficiency, and automated production.
4/27/20232 min read
Alibaba CEO Zhang Yong Decentralizes Power Within Firm
People familiar with the matter have indicated that Zhang Yong, CEO of Alibaba Group, is delegating power to the heads of various business departments of the company.
11/29/20212 min read
Li Auto Responds to Li ONE Vehicle Fire: Suspected Iron Shard Punctured High Pressure Fuel Pipe
A burning Li ONE vehicle was discovered at around 4 p.m. on Aug. 6 on the Sihui and Lianzhou expressways in Zhaoqing City, Guangdong Province.
Alibaba Increased its Holdings in Cainiao Network
Alibaba group announced today that in order to further promote the new retail strategy, it will increase holdings of Cainiao Network. Apart from tens of billion...
Meituan To Implement Guidance on Safeguarding the Rights of Food Deliverymen
On Monday night, in response to the guidance of the regulatory authorities on safeguarding the rights of food deliverymen in the afternoon, Chinese food delivery giant Meituan said that it had launched several rounds of research and would implement the guidance.
7/26/20212 min read
China Post and Pinduoduo Form Strategic Collaboration
Chinese e-commerce player Pinduoduo has formed a strategic cooperation with state-owned China Post Group Co., Ltd.
9/24/20204 min read