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December 22nd, 2018 China's digital economy hit 16 trillion yuan ($2.3 trillion) in the first six months of 2018, which accounted for 38.2 percent of the country's overall GDP growth. Lu Chuncong, director of the academy, said despite booming growth, China's digital economy suffers from unbalanced and inadequate development. Data shows that in 2017 the...
CHINA

December 21st, 2018 A second-tier Chinese smartphone company Gionee, which owes 20.2 billion Chinese Yuan (nearly $3 billion) to648 creditors, has officially filed for bankruptcy.According to the reports, a court in Shenzhen has accepted the Gionee application for liquidation bankruptcy. It had been stated that the founder of Shenzhen-basedGionee...
CHINA

December 20th, 2018 China based fresh grocery e-commerce company Yiguo Group has announced the launch of an order-based tracking system to increase the transparency of fresh food logistics and food safety. To solve the problems confronting the nation's fresh grocery market, including lack of standards, short shelf life and high reliance on cold chain,...
CHINA

December 17th, 2018 Bank of China has signed a strategic cooperation agreement with the All-China Federation of Industry and Commerce to further expand financing channels for private companies, especially small businesses, to expand their footprints globally. "As part of BOC's efforts to support private companies, the strategic cooperation will help the...
CHINA

December 15th, 2018 The BMW-owned car-sharing service called ReachNow has reportedly launched a ride-hailing service in Chengdu, capital of Southwest China's Sichuan province, on Friday. The move makes BMW the first foreign enterprise given the green light for online ride-hailing operation in China. Aiming at the huge high-end online car-hailing...
CHINA

December 7th, 2018 Reality television star and lifestyle mogul Kim Kardashian has her sights set on the Chinese market with plans to open a pop-up store, state media reported Friday. Kardashian, whose rapper husband Kanye West briefly lived in China as a child, recently launched her makeup brand KKW Beauty and told China's official news agency about her...
CHINA

December 1st, 2018 Beijing-based AI startup Infervision is among a handful of AI companies around the world racing to improve medical imaging analysis through deep learning, the same technology that powers face recognition and autonomous driving. The startup, which has to date raised $70 million from leading investors like Sequoia Capital China,...
CHINA

November 30th, 2018 A Chinese smartphone brand called Gionee that came into existence a few years back is now stooping down. The company seems to be in trouble and is reportedly on the verge of going bankrupt. However, the reason for the company going bankrupt has not been disclosed yet. On the other hand, a report by Chinese website Jiemian claimed that...
CHINA

November 28th, 2018 The Shanghai municipal government and Chinese technology major Baidu have reportedly signed a strategic cooperation agreement for the purpose of developing artificial intelligence (AI) industry in the city and giving it a boost. Following the agreement, a Baidu innovation center will be built to make Shanghai a major AI development...
CHINA

November 26th, 2018 A young Chinese commercial space firm called Chengdu GuoXing Aerospace Technology has sent two satellites into space within 100 days after its establishment, and now the company is preparing for a new launch in December. The firm was set up in the capital of southwest China's Sichuan Province in May. It has developed two experimental...
CHINA

November 23rd, 2018 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...
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