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Shanghai Set to Expand High-tech Enterprise Population

23Nov By Gauri SinghNo Comments

CHINA

Shanghai Set to Expand High-tech Enterprise Population

Shanghai is set to increase its population of high-tech enterprises to 15,000 by 2020, according to a guideline released by the municipal government. The guideline also states that these enterprises would achieve a combined annual revenue of more than 3 trillion yuan ($432.94billion) and profits of 280 billion yuan by 2020. The high-tech sector, which has become an important engine in the city's development, is growing rapidly in Shanghai, said Zhang Quan, the director of Shanghai Municipal Science and Technology Commission. The city is presently home to around 9,200 high-tech enterprises, more than 80 percent of which are privately owned. In 2017, these companies applied a total of 28,539 invention patents, an 18.56 percent increase compared with the previous year, and their tota...

22Nov By Gauri SinghNo Comments

CHINA

China’s JD.com Launches its First UAV for Cargo Deliveriesb

China’s JD.com has rolled out its first large-scale unmanned aerial vehicle (UAV) at Pucheng airport, Shaanxi province. It has been stated that the UAV will be used for the company's cargo deliveries. This particular UAV has been named as the JDY-800 which has a wing-span of 10 meters. It can cruise at altitudes of 3,000 meters at speeds of over 200 kilometers per hour. Also, the JDY-800 can carry up to 840 kilograms' cargo during its flight. The company had planned to develop a large-scale UAV in June when CEO Liu Qiangdong announced the plan through a social media post. And now, it has become a reality. Since then, the JDY-800 has gone through 5 months of manufacturing, assembling and testing. It must be noted that the company has produced the aircraft itself. "The larger drones c...

21Nov By Gauri SinghNo Comments

CHINA

China Telecom Forays into the Philippine market

China Telecommunications Corp is making a major advance in its globalization strategy, with an association involving the company becoming the third major mobile operator in the Philippines. The National Telecommunications Commission in the Philippines announced that the Mislatel consortium, which is composed of China Telecom and two local companies - Chelsea Holdings and Udenna Corp, had been selected to operate mobile telecom services in the country. China Telecom stated that entering the Philippine market is an important advance in the expansion of its overseas presence, and that it will work hard to offer local consumers reliable services. It also mentioned that this latest move will also promote overall links between the telecom sectors in China and the Philippines. "Partnership...

19Nov By Gauri SinghNo Comments

CHINA

Samsung Launches high-end Smartphone with China Telecom

Samsung Electronics has launched a super-high-end smartphone in China in partnership with the country's major telecom carrier, China Telecommunications Corp for the purpose of targeting business professionals. Contrary to most people's expectations that flip phones are a thing of the past, Samsung's new model, the W2019, is a flip handset that is priced from 18,999 yuan ($2,730). The move is part of a broader push by Samsung to outcompete local rivals, such as Huawei Technologies Co Ltd, to lure consumers who are willing to spend big on premium devices in a niche segment. The W2019 comes with two 4.2-inch Super AMOLED screens and can work as a run-of-the-mill smartphone when it is folded and as a vintage phone with a number-based dial pad. The new smartphone, equipped with voic...

19Nov By Gauri SinghNo Comments

CHINA

Tesla Starts Taking Orders for Model 3 in China

The EV major Tesla has begun to take orders for its Model 3 sedan in China for a deposit of CNY 8,000 ($1,153.60 or about Rs. 83,000). However, the company declined to comment on the development. Chief Executive Officer Elon Musk stated, "Probably some deliveries in March, but April is more certain", after a Twitter user asked when the deliveries in China would begin. The company has been banking on its Model 3 sedan. The performance of the car is seen crucial to the carmaker's future. Shares of Tesla rose 1.6 percent at $353.93 (roughly Rs. 25,500) in morning trading. Talking about China, it has been the largest market for electric vehicles and most forecasters predict that its sales in the country will speed up rapidly as government regulation drives toward a goal of 100 percent...

12Nov By Gauri SinghNo Comments

CHINA

China’s AI Industry has Embraced Growth

China's AI industry has embraced rapid growth in recent five years. China's large population created advantages in big data, which is the key driver for AI ecology today represented by deep learning. "At the basic scientific level, there is still a gap between China and the United States. While at the application level, China is able to become the world's leading experimenter," Wang said. Beijing-based Sogou, which went public on the New York Stock Exchange in November last year, runs China's most popular input method and the second-largest search engine and Sogou browser. Sogou's language-centered AI technologies have been widely applied in providing daily and simultaneous interpretation services in various scenarios. Sogou launched the world's first virtual anchor technology on t...

6Nov By Gauri SinghNo Comments

CHINA

Ford Ties Up with Baidu to Test Driverless Vehicle in China

The popular US-based automaker Ford has tied up with China’s largest search engine Baidu for a two-year autonomous vehicle test project in China. The president and CEO of Ford Autonomous Vehicles named Sherif Marakby announced the partnership with Baidu's vice president and general manager of its Intelligent Driving Group Li Zhenyu on Wednesday in Beijing. Following the deal, the two companies will further advance the development and on-road testing of autonomous vehicles in China, the world's biggest auto market. The collaboration is synced with Ford's plans to further advance and promote autonomous vehicle technologies, supporting the company's vision of designing "smart vehicles for a smart world”. "Working with a leading tech partner like Baidu allows us to leverage new opportun...

2Nov By Gauri SinghNo Comments

CHINA

China Becomes the World’s Largest Importer of e-commerce Goods

With the growing economy day by day, China has become the world's largest importer of e-commerce goods. The country has a population of cross-border e-commerce consumers increasing by 10 times over the past three years. According to a report, China's consumption growth has promoted sustainable development of import business and the post-'90s and '95s consumers have become the largest consumers of imported goods. Also, the proportion of people buying imported goods through cross-border e-commerce platforms increased from 1.6 percent in 2014 to 10.2 percent last year. The number of consumers at Tmall Global, the cross-border e-commerce site of Alibaba Group rose10 times from 2014 to last year. "China is becoming one of the largest consumer markets in the world, and this huge consumer ...

27Oct By Gauri SinghNo Comments

CHINA

China’s Alibaba Partners with a Swiss Luxury Goods Firm

Chinese e-commerce giant Alibaba has reportedly announced a partnership with Swiss luxury goods group Richemont for the purpose of developing platforms in China for high-end products. According to the deal, Richemont's online unit Yoox-net-a-porter and Alibaba will set up a joint venture with two mobile phone applications that are Net-a-Porter and Mr Porter. This is basically being done to serve the Chinese market. The two companies Net-a-porter and Mr Porter will also be made available on Alibaba's specialist luxury site, Tmall Luxury Pavilion that was started last year. Also, the companies have agreed to explore other opportunities to develop the luxury goods market in China. "Our digital offer in China is just getting started," Richemont chief Johann Rupert said. Richemont, rank...

25Oct By Gauri SinghNo Comments

CHINA

Tesla to Start Model 3 Manufacturing in China from Next Year

The EV giant Tesla is reportedly expecting to extend its earnings streak by bringing its new Model 3 to customers beyond North America. The company’s plan includes accelerating its manufacturing plans in China. Tesla witnessed its revenue increase aggressively to $6.8 billion in the third quarter (and a $312 million profit) after the sales of its new Model 3 vehicle. The company was able to achieve that profitability milestone just through sales in the U.S. and Canada. The company mentioned that it would start to take orders for the Model 3 in Europe and China before the end of 2018. Also, it will begin deliveries of the Model 3 to Europe early next year. “We are aiming to bring portions of Model 3 production to China during 2019 and to progressively increase the level of localizati...

Xiaomi-owned Yeelight Forays into the Indian Market

23Oct By Gauri SinghNo Comments

CHINA

Xiaomi-owned Yeelight Forays into the Indian Market

Smart lighting solutions maker called Yeelight which is owned by Xiaomi has reportedly announced its foray into the Indian market amid the festive season. The China-based company has introduced four products including a smart lamp, a light strip and two smart bulbs. These products are priced between Rs 2,000 to 10,000 as mentioned by its parent company. In the initial stage, its products will be exclusively available on Amazon and later, it would also be available at retail outlets and experiential zones of major metro cities. "With the smart lighting industry in India facing the upward growth trajectory, we are extremely excited to foray into the Indian markets," Yeelight Founder and CEO Eric Jiang said. He also stated that the company would focus on smart light segment with quali...

Chinese Firms May Now Capture Indian Phone Accessories Market

20Oct By Gauri SinghNo Comments

CHINA

Chinese Firms May Now Capture Indian Phone Accessories Market

The Indian market has been quite influenced by Chinese smartphone makers and thus, China has been able to capture a good portion of the Indian smartphone market. After conquering the country’s smartphone market, the Chinese companies are now trying to capture India's mobile phone accessories market. The Indian mobile phone accessories market is estimated at more than Rs 10,000-crore which is largely unorganized. WK Life, a company that is based in Hong Kong is planning to launch 200 outlets in the country in the next two years to sell mobile phone cases, power banks, earphones and speakers to tap the burgeoning business in India. WK Lifestyle India will open its first store in Mall of India in Noida later this month and would also expand its store network through sub-franchisees. ...