Alibaba Group’s formerly exiled founder Jack Ma’s appearance at Chinese President Xi Jinping’s recent symposium highlights Beijing’s determination to use innovative technologies to maintain its economic growth. After forcing Alibaba’s Ant Group to scrap its initial public offering in Hong Kong in November 2020, Beijing spent a year and a half tightening regulations in the…
Beijing is repositioning the private sector as the cornerstone of China’s global competitiveness and technological edge in the face of growing geopolitical and economic headwinds, according to analysts’ assessments following President Xi Jinping’s meeting with prominent entrepreneurs. Observers also emphasised the importance of more stimulus and policy reforms to get the ball rolling. The first…
News of Chinese President Xi Jinping‘s potential meeting with Alibaba co-founder Jack Ma has further buoyed the country’s soaring tech stocks and is expected to be the next catayst, according to a report by Bloomberg. The publication cited sources saying that Ma is on the list of prominent entrepreneurs invited to meet China’s top leaders….
Chinese start-up Manycore Tech, operator of the world’s largest spatial design platform, has applied for an initial public offering (IPO) in Hong Kong, three years after its attempt to list on the Nasdaq stock exchange lapsed. Manycore’s IPO filing, jointly sponsored by JPMorgan and CCB International, did not provide the amount it intends to raise…
Tencent Holdings-backed online lender WeBank is leveraging its new Hong Kong subsidiary to tap the city’s expanding Web3 market, according to a company executive, as the financial hub continues its pursuit to establish itself as a virtual asset hub. WeBank Technology Services, launched this month, plans to be “deeply involved” in developing the city’s Web3…
Tencent Holdings-backed online lender WeBank is leveraging its new Hong Kong subsidiary to tap the city’s expanding Web3 market, according to a company executive, as the financial hub continues its pursuit to establish itself as a virtual asset hub. WeBank Technology Services, launched this month, plans to be “deeply involved” in developing the city’s Web3…
China’s booming artificial intelligence (AI) industry has a plethora of job openings but not enough talent to fill them, according to a recent report from Maimai, a Chinese professional online network similar to LinkedIn. A quarter of openings among the top 20 “new economy” job types on Maimai this year through October were directly related…
China has created a new specialist committee on artificial intelligence (AI), as part of the country’s vision for the development and governance of the technology, amid simmering tensions between Beijing and Washington. The AI Experts Committee will help spearhead efforts to promote the country’s perspective on how the fast-growing technology should be governed, according to…
Chinese e-commerce platform JD.com has started accepting Alipay for payments after the announcement of its logistics deal with rival Alibaba Group Holding’s Cainiao, another sign that the “walled gardens” in China’s tech world are continuing to break down. Alipay, the largest mobile wallet in China operated by Ant Group, was made available for consumers shopping…
Jeremy Allaire, CEO of the USDC stablecoin issuer Circle, said Hong Kong is becoming an increasingly important market for settlements as stablecoins become a critical part of that infrastructure. “In emerging and developing markets … there are importers who are importing out of Asia, and a lot of the trade flow is settled through Hong…