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News on the Internet & Tech Industry in China

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Hailing investor interest

The race is on as Didi and Dida hit the accelerator to be the first to IPO
May 14, 2021 (WiC 540)

There is something about powerplay profits that persuades commentators to invent acronyms for top performing companies. The Chinese first came up with the concept of the BAT to describe the rise of three of their biggest tech firms – Baidu, ...

Meituan hit with antitrust probe days after its $10 billion fundraising
Apr 30, 2021 (WiC 538)

Meituan’s boss Wang Xing has personal experience of the ‘pick-one-out-of-two’ tactics now being targeted by China’s antitrust regulators. The current campaign is part of a clampdown on internet companies that have demanded exclusivity ...

Zheng buys Korean LCD materials business
Apr 30, 2021 (WiC 538)

Cedar trees symbolise strength and eternity in Chinese culture. In Mandarin they are described as shanshan and the name is an apt one for a company set up by Ningbo businessman Zheng Yonggang in the late 1980s. Over the last three ...

Playing by the rules

Ant and Alibaba take their regulatory punishment; others may follow
Apr 16, 2021 (WiC 536)

“Nearly all Chinese entrepreneurs don’t have happy endings,” Jack Ma told a group of private sector businesspeople back in 2011. Perhaps a few of Ma’s counterparts should have paid more attention to his remarks. Not long ago the bosses ...

Road to the future

Why Xiaomi wants to step up from smartphones to electric vehicles
Apr 9, 2021 (WiC 535)

When Xiaomi was barely a year old we profiled its founder Lei Jun (see WiC124), describing how he dreamed of creating a smartphone brand that imitated Apple. The Chinese tech tycoon had been inspired by Steve Jobs since becoming a programmer ...

Playing the game

The ESPN of eSports eyes a New York listing
Apr 9, 2021 (WiC 535)

How topical is eSports? In China, it has now become a popular backdrop for many TV dramas. First there was Dt.Appledog's Time, an idol series about eSports. Last week, Youku announced that Falling into Your Smile – which tells the story of a ...

Chinese firms target key chipmaking equipment
Apr 1, 2021 (WiC 534)

China’s struggle to achieve self-sufficiency in the manufacturing of advanced integrated circuits (ICs) is increasingly well documented. Foreign firms control the high-end technologies along the supply chain. But for how much longer? Last ...

Chip champion Empryean eyes Shenzhen listing
Apr 1, 2021 (WiC 534)

If you don’t know how to make something you might need a manual to show you how. But what if there is a gaping hole in the bookshelf where the instruction manual should be? This is the challenge that Chinese chipmakers face as they try to ...

Regulatory roulette

Is Baidu now better positioned than Tencent, Alibaba or Pinduoduo?
Mar 26, 2021 (WiC 533)

More than 1,300 chief executives left the companies they ran last year, according to recruitment firm Challenger, Gray & Christmas. There were another 195 departures in the first two months of 2021. Probably the most high-profile exit is that ...

Defensive attack

Tencent continues on M&A trail in games sector
Mar 26, 2021 (WiC 533)

The shortest deal in history? Earlier this week Burberry unveiled purchasable skins for the popular heroine Yao in Tencent’s mobile game Honor of Kings (one skin featured its iconic trench coat). However, only four days after the ...

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