Financial Times reported that Ant Financial is planning to raise $5 billion in a new funding round.
Xiaomi held its 2018 annual meeting on February 7. Company founder Lei Jun said 2017 was “the year of the reverse and breakthrough”. In October 2017, Xiaomi’s revenue exceeded 100 billion yuan ($15.88 billion). It took Xiaomi seven years to reach this level, which could be compared to Alibaba, Tencent and Huawei.
Aston Martin, the British super luxury car brand, announced a five-year trade and investment plan for the Chinese market.
On January 31, the China Internet Network Information Center (CNNIC) released the 41st statistical report of China Internet network development in Beijing. As of December 2017, China’s Internet population reached 772 million, with a penetration rate of 55.8 percent.
XPENG announced the start of its B round financing of 2.2 billion yuan in Hong Kong on January 29. The financing was led by Alibaba, Foxconn and IDG. XPENG will raise more than 5 billion yuan from the capital market.
Malaysia Digital Economy Corporation (MDEC) and Dewan Bandaraya Kuala Lumpur (DBKL) announced plans to introduce Alibaba Cloud ET City Brain. Artificial intelligence will be fully applied to the Malaysia transportation management, urban planning, environmental protection and other fields. In the first phase, AI will be applied to 281 road crossings in Kuala Lumpur.
Revenue in China’s catering industry exceeded 3.9 trillion yuan in 2017. The Chinese take-away market alone topped 300 billion yuan.
The State Intellectual Property Office (SIPO) released its statistics and information about China’s major fields. In 2017, the number of patent applications in China was 1.38 million, a year-on-year increase of 14.2 percent.
The Baidu Research and Development Center in Sunnyvale, California opened two months ago. It is Baidu’s third research center in the US and Baidu’s second office in Silicon Valley. Unlike the first two centers, this one is focused on its most competitive area of research: autonomous driving in the AI field.
Discount coupons valued for 100-yuan excited Xiaomi fans this week. The company released a series of Mi 7 concept photos on Weibo, which displayed a product that seemed impossible for Xiaomi to make. From the pictures, the concept of the Mi 7 is truly amazing.
After Apple released its rare statement on deliberately slowing down older iPhones, a Chinese non-government organization condemned Apple’s planned obsolescence behavior, calling on boycotting its products and services until it gives reasonable explanation, stops similar practice and apologize to consumers.
OnePlus and Disney released their cross-border product, a Star Wars branded version of the OnePlus 5T, in Mumbai, India on December 21. The phone, an 8 GB RAM and 128 GB ROM version, is priced 38,999 rupees (about 4,020 yuan).
Huawei staff told Netease Technology that Honor changed the way it is motivating and assessing employees. The Honor department is relatively independent, with separate financial statements and control of overseas operations.
Chinese mobile phone maker OPPO, which entered India four years ago, recently received a qualification for environmental assessment for its local mobile phone factory from the Indian government.
Tencent Chairman and CEO Pony Ma spoke about the digital economy at the Fourth World Internet Conference Wuzhen Forum. Ma said innovation is key to Tencent’s goal of becoming an Internet-based technology and culture company.