Pandaily's Digest #20210414
ByteDance takes concrete steps towards Hong Kong IPO, Redmi to release its first gaming smartphone this month, Ant Group promises anti-monopoly reform following Chinese government crackdown, and more.
Breaking: ByteDance Takes Concrete Step Towards Hong Kong Listing
ByteDance has initiated formal procedures for an initial public offering (IPO) in the Hong Kong Stock Exchange after submitting a letter with details regarding potential underwriters to trade authorities.
Baidu, ByteDance and JD.com Pledge to Comply with Antitrust Rules after Regulators Ask for Compliance with Alibaba Case
A dozen Chinese leading internet companies including Baidu, ByteDance and JD.com issued commitments on Wednesday to obey antitrust laws.
ByteDance Acquires Chinese Game Developer C4Games, Advancing Globalization Efforts
Hu Bing, CEO of C4Games, issued a letter to his employees on Tuesday to announce that the company had been officially acquired by ByteDance.
Chinese Autonomous Driving Startup WeRide Allowed to Test Driverless Cars in California
Chinese autonomous driving company WeRide has obtained a permit to test two passenger vehicles on designated public roads in California without human drivers behind the wheel, marking another breakthrough for the startup.
US to Refrain from Declaring China a Currency Manipulator in Pending Report
China will not be formally labelled a currency manipulator by the US Treasury Department in their upcoming foreign exchange report, Bloomberg revealed Tuesday, citing people familiar with the matter.
Redmi’s First Gaming Smartphone to Launch This Month, May Feature Dimensity 1200 Chipset
Xiaomi sub-brand Redmi has confirmed that its first gaming phone will be released by the end of this month.
OPPO Joins Vodafone, Qualcomm and Ericsson to Establish Europe’s First Commercial 5G Standalone Network
Chinese smartphone maker OPPO announced on Tuesday that it has successfully launched Europe’s first commercial 5G standalone (SA) network in collaboration with Vodafone, Qualcomm and Ericsson.
Huawei to Devote $1 Billion to Smart-Vehicle Sector in Bid to Weather US Sanctions
Chinese telecom giant Huawei announced on Monday that it will invest more than $1 billion in researching and developing self-driving and electric vehicles this year.
Le.com and Jia Yueting Are Fined 481 Million Yuan ($73 Million) for Financial Fraud
On Monday, Chinese streaming video service Le.com reported that the China Securities Regulatory Commission (CSRC) had fined the company 240 million yuan ($37 million) for a financial fraud running from 2007 to 2016.
Ant Group Promises Anti-monopoly Reform following Chinese Government Crackdown
The Chinese government recently ordered a structural reform of Jack Ma’s Ant Group.