NIO Automobile submitted its prospectus to the U.S. Securities and Exchange Commission (SEC) for an IPO on the New York Stock Exchange. It plans to raise up to US$1.8 billion, which will be the largest listing of a Chinese auto company in the United States.
Xiaomi is set to unveil its first smartphone under the POCO by Xiaomi sub-brand in New Delhi, India on August 22. Branded as “Master of Speed”, the new POCO F1 is said to share many features of the flagship Xiaomi Mi 8.
On the afternoon of August 13, OPPO officially announced the release of its new R17 series smartphone and unveiled some of its features.
Ucommune, previously UrWork, the only Chinese unicorn in the co-working space, announced on August 14 that the company received a new round of funding from RK Properties and Jingrong Holdings, raising 300 million yuan ($45 million) at a post-money valuation of $ 1.8 billion.
Overseas Talent Entrepreneurship Conference (OETC), China’s largest international startup business competition came to a close on August 10. A team from Beijing won the global championship while an American and a British team took home the second and third place respectively.
PayPal has been negotiating incessantly with Chinese regulators for the past four years to obtain a payment license to enter the large market, as The Paper reported on August 10.
U.S. mobile chipmaker Qualcomm announced on August 10 that it has settled an anti-trust case with Taiwan’s Fair Trade Commission(TFTC). Qualcomm paid out for a total of $93 million, which was reduced from $774 million. It further pledged to invest $700 million more in Taiwan within the next five years.
China Unicom, the country’s second-largest telecom carrier announced on August 10 that it will provide integrated ultra-fast fifth-generation (5G) solutions for the 2022 Winter Olympics in Beijing.
The blockchain ecosystem in China is taking shape, with great increases in the number of enterprises and diversified applications according to China’s Ministry of Industry and Information Technology (MIIT).
Here’s this week’s roundup of China tech stories.