On Nov. 22 Meituan-Dianping, China’s on-demand service provider, released its first earnings report after raising $4.2 billion in an IPO in September. Its third quarter operating loss soared to $497.46 million, that means it tripled from last year’s $151 million for the same time period.
China’s coworking space provider Ucommune announced on Nov. 14 that it will close a $200 million Series D round of funding three months after its previous one, making it the largest single round financing for the unicorn.
The global shipments of smart speakers grew 197 percent year-over-year in Q3 of 2018, reaching a record-breaking amount of 22.7 million, according to Strategy Analytics’ quarterly report. Chinese companies Alibaba, Baidu and Xiaomi were among the top five brands.
Today at the CIIE, Alibaba Group promised to help import $200 billion worth of goods from more than 120 countries over the next five years, underscoring the company’s long-term commitment to globalization and efforts to meet Chinese consumers’ rising demand for high-quality international products.
Leaders from different industries have gathered at the first China International Import Expo, which opened in Shanghai on Nov. 5, to share their insights on trade, business, and economics.
A new leak from the Italian media website HDBlog reveals the outlook of Asus ZenFone 6, which is expected to launch during Mobile World Congress (MWC) 2019 in Barcelona, Spain in February next year.
Today Ford Motor Company and Baidu, Inc. announced the commencement of a two-year joint autonomous vehicle test project, under which the two companies will further advance the development and on-road testing of autonomous vehicles in China.
The Chinese-invested and US-based electric vehicle producer Faraday Future (FF) is said to have laid off more than half of their employees and cut salaries for the ones remaining, due to cash flow problems that arise from its dispute with its main investor Evergrande Health.
Alibaba holds its annual shareholder meeting in Hong Kong today. Jack Ma, the Chinese business magnate and Alibaba’s co-founder, addresses shareholders in an open letter as Alibaba’s executive chairman for the last time. Ma’s successor Daniel Zhang also sends a CEO’s letter to shareholders.
Alibaba Cloud, or Aliyun, the cloud computing subsidiary of China’s tech giant Alibaba Group, opened its first data centers in the United Kingdom on Oct. 22, catering to the growing demand for its services in Europe.
Chinese travel experience sharing platform Mafengwo has been under the spotlight lately due to fake review allegations. The story was first posted on an independent WeChat account only to be denied by Mafengwo a few days later, leaving the truth unclear.
Chinese e-commerce giant JD.com, Inc., Institute of Software at Chinese Academy of Sciences, and New Jersey Institute of Technology (NJIT) in the U.S. co-launched a joint lab on blockchain research on Oct. 21 in Beijing.
The State Council of China has officially announced the approval for setting up a pilot free trade zone (FTZ) in the southern province of Hainan, with an overall development plan aiming to reduce restrictions on foreign investment on the island.
SF Express Co., Ltd, China’s biggest delivery service company, completed a public test flight on Oct. 16 with its new unmanned delivery drone, named Feihong-98, in cooperation with China Aerospace Times Electronics Co., Ltd, an aerospace electronics products manufacturer.
China’s Internet giant Baidu, Inc. has joined the Partnership on AI (PAI), a US-led artificial intelligence (AI) ethnic group and become its first Chinese member.