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News on the Internet & Tech Industry in China

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Digital realities

Tencent and Bytedance are racing to plant their flags on the ‘metaverse’
Sep 24, 2021 (WiC 557)

For a long time Guy thinks that he is just an ordinary bank teller at a place called Free City. He follows the same routine every day with a blasé attitude, until one day he meets Molotov Girl. Feeling an electric attraction for the edgy lady, ...

Gathering clouds

Is China about to create a state-owned cloud services heavyweight?
Sep 3, 2021 (WiC 554)

“It is a capital mistake to theorise before one has data,” warns Sherlock Holmes, the super sleuth of Arthur Conan Doyle’s novels. ‘Data’ – that precious commodity that Holmes was earlier than most to put a premium value on – is ...

Xiaomi boss pledges to top smartphone sales
Aug 27, 2021 (WiC 553)

Lei Jun bought his first pair of ripped jeans in 2018. He did so not as a fashion statement but to symbolise instead his regret at the poor stock market debut of his smartphone firm Xiaomi in Hong Kong that year (see WiC415). After pricing at the ...

AI unicorn CloudWalk gets nod for STAR Market IPO
Jul 30, 2021 (WiC 551)

The polygraph, so beloved in spy films and detective novels, is underpinned by the idea that a liar can be caught out through physical symptoms. The technology uses contact sensors to detect changes in pulse, blood pressure, breathing rate and ...

Thinking the unthinkable

Are Alibaba and Tencent close to agreeing a strategic ‘truce’?
Jul 23, 2021 (WiC 550)

The longstanding rivalry between Alibaba and Tencent on China’s internet scene has sometimes been compared to the decades of Cold War tension between the Soviet Union and the United States. Both internet superpowers want to spread their ...

Antitrust ruling thwarts Tencent’s attempt to consolidate streaming firms
Jul 23, 2021 (WiC 550)

When antitrust laws were first introduced in the United States more than a century ago, they were aimed at taking on the oil industry. For many years antitrust watchdogs have taken a more lenient view on the rise of technology giants like Amazon, ...

Small but significant

Newport deal a litmus test for Britain’s new stance on Chinese tech M&A
Jul 16, 2021 (WiC 549)

If you ask British people what kind of wafers are produced in the UK, then they’ll almost certainly think about the biscuit variety – such as vanilla creams sandwiched between pink wafers. The teatime snack was originally produced by ...

Challenging times for Didi

How a regulatory probe derailed trading debut of ride-hailing giant’s IPO
Jul 9, 2021 (WiC 548)

In a collaboration with the state news agency Xinhua, the R&D team at the ride-hailing platform Didi published a review in 2015 of bookings made by people working for different departments of China’s central government in Beijing. The ...

Staying late at the office

Tencent’s game developer emerges as first to attack ‘996’ work culture
Jul 2, 2021 (WiC 547)

Wednesday is “Healthy Day” when no one has to work past 6pm. Staff won’t be asked to work on Saturdays and Sundays. And Wednesdays aside, you must leave the office before 9pm. The so-called “Happy Work, Healthy Life” regimen was ...

Semiconductor industry sees surging valuations
Jun 25, 2021 (WiC 546)

In 1933, one of the most lauded stock pickers of all time declared that “the four most costly words in the annals of investment” are “this time it’s different”. John Templeton, who went on to found the Templeton Growth Fund, concluded ...

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