Other Industry News

Alibaba Sells More Momo Inc Shares, Reducing Its Holding in Mobile Social Networking Firm to 14%

Alibaba Group Holding Ltd. [NYSE:BABA] cut its holding of mobile social networking company Momo Inc.’s [NASDAQ:MOMO] American depositary shares (ADS) by another 9 million at a price of US32.05 per Amer... Full Story

Head of Baidu’s Driverless Car Division Will Leave, Start Own Business, Investment Already Set

Wang Jin, senior vice president and former general manager of the driverless car division of Baidu Inc. [NASDAQ:BIDU], will leave in April and set up his own autonomous driving business, with investment alre... Full Story

DidiChuxing, China’s Ride-Hailing Giant, Holds Talks WithSoftBank

HONG KONG — DidiChuxing, a company in China that last year bested Uber in that huge ride-sharing market, is in negotiations to get SoftBank of Japan to take part in a multibillion-dollar investment rou... Full Story

Tesla deal boosts Chinese presence in U.S. auto tech

China's Tencent Holdings Ltd (0700.HK) has bought a 5 percent stake in U.S. electric car maker Tesla Inc (TSLA.O) for $1.78 billion, the latest investment by a Chinese internet company in the potentially... Full Story

Total Volume of Chinese Users' Mobile Payments Exceeds Japan’s GDP, Say Japanese Media Reports

The amount of Chinese mobile phone payments has exceeded Japan’s GDP, driven by the robust expansion of mobile payment services of Tencent Holdings Ltd. [HKG:0700]. Smartphone payments in China doubled... Full Story

Baidu to Set Up Second Silicon Valley AI R&D Center

Chinese search engine giant Baidu Inc. [NASDAQ:BIDU] plans to set up its second Silicon Valley research and development facility to boost its competitiveness in artificial intelligence, Bloomberg reported. ... Full Story

KPMG: Shanghai is next Silicon Valley

How many Silicon Valleys can the world hold? In all likelihood, there will be one in China, namely Shanghai and its surrounding area-despite some obvious early-stage problems. This is one of the findi... Full Story

China's 'unicorns' nearly double to 131: official

BEIJING - China had $131 billion worth of private start-ups by the end of 2016, nearly doubling the figure of the year before, said an official with Ministry of Science and Technology. Zhang Zhihong, ... Full Story

Chinese Carmaker BYD Plans to Invest Over USD10 Million to Building Electric Bus Plant in France

(Yicai Global) March 24 -- Chinese automaker BYD Co. [SHE:002594] announced yesterday that it will build its second European electric bus plant in France. The Shenzhen-based company will invest EUR10 ... Full Story

Alibaba taps technology behind bitcoin to tackle food fraud

The Australian operation of Alibaba Group is exploring new ways to address food fraud risk by using the technology behind bitcoin to track the product life cycle of food products. Alibaba Australia on... Full Story

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