CHINA | Pixr8 News

18Oct By Gauri SinghNo Comments

CHINA

China’s Digital Economy to Become World’s Largest

China is the largest economy of the world and now, the digital economy of the country is also expected to become the world's largest amid rapid development as stated by the Hong Kong E-Commerce Association Chairman Joseph Yuen at the second Beijing CED Internet Summit. The overall revenue of China's e-commerce, online travel, and digital media consumption in 2018 is estimated to reach $765 billion. Also, the number of people digitally connected globally will reach 4 billion by 2020. The number of connected devices will reach 25 billion, which means an average of one person has about six devices connected to the internet. China needs to open its market, transfer more scientific and technological achievements, and also cultivate talent in order to accelerate the growth of the digital e...

16Oct By Gauri SinghNo Comments

CHINA

Yang Huiyan Named as the Richest Woman in China for the Sixth Time

The vice-chairwoman of one of the largest property development company in China Country Garden has been named first on the list of the richest Chinese women for the sixth consecutive year. According to the Hurun Richest Woman in China 2018, Yang Huiyan is the richest woman in China. The wealth of the lady is around 150 billion yuan ($21.7 billion) and has topped the list followed by Wu Yajun who is the chairwoman of Longfor Properties with 58.5 billion yuan wealth. The third position was held by Chen Li who is the chairwoman of Fu Wah International Group with Hua (50.5 billion yuan) wealth. "China accounts for 60 percent of the world's most successful female entrepreneurs, while Chinese women make up one-fifth of the world's female population," said Rupert Hoogewerf, chairman and chi...

Jack Ma to Launch an Institute of Entrepreneurs in Indonesia

15Oct By Gauri SinghNo Comments

CHINA

Jack Ma to Launch an Institute of Entrepreneurs in Indonesia

The founder and executive chairman of China’s largest e-commerce company Jack Ma is reportedly planning to open an institute to train thousands of tech entrepreneurs in Indonesia. However, he did not mention when Jack Ma Institute of Entrepreneurs would launch. The aim behind this move is to train 1,000 tech leaders a year over the next 10 years. "We're giving a lot of opportunities for young Indonesian people to learn," Jack Ma said. The co-founder of Alibaba said it is important for Indonesia to invest in human capital because "only when people improve, when people's minds change, when people's skills improve, then we can enter the digital period". Talking about Indonesia, the country has a lack of trained engineers in technology and the institute will also train hundreds of develop...

Baidu Enters into a Strategic Partnership with NetEase Cloud Music

13Oct By Gauri SinghNo Comments

CHINA

Baidu Enters into a Strategic Partnership with NetEase Cloud Music

China’s largest search engine Baidu has entered into a strategic partnership with one of China's major music live streaming services known as NetEase Cloud Music. Following this partnership, Baidu stated that the high-quality content of NetEase Cloud Music will reach hundreds of millions of users by virtue of Baidu's app, information flow and video platform. This will be beneficial for both the parties. Firstly, the companies will cooperate in the intelligent hardware sector. NetEase Inc will remain the controlling shareholder in NetEase Cloud Music after the investment, whereas Baidu will hold the position of a strategic partner. The basic idea of Baidu is to expand its presence in content. Prior to this, the company has invested in a series of video-sharing platforms, such as Ba...

12Oct By Gauri SinghNo Comments

CHINA

Tencent Tops WPP’s Ranking of China’s Best Companies

Recently, the British multinational advertising and public relations company WPP announced its list of top 100 Chinese brands ranking in London with an aim to acknowledge Chinese companies' growing reputation on the international business stage. In this list, the Chinese internet giant Tencent topped the position and was termed as the most important company in China. Tencent was followed by e-commerce leader Alibaba and the leading telecoms company China Mobile. "Companies that back their brands with the power of creativity and ideas will be the winners in today's world of innovation and change, and China excels in this respect," said David Roth, chairman of BrandZ and BAV Group, which are subsidiaries of WPP. Apart from this, the top 10 included the telecommunications company Huawei,...

10Oct By Gauri SinghNo Comments

CHINA

China’s Tencent Partners with a UK Firm to Boost AI in Health Space

China’s Tencent Holdings is tying up with a technology firm from the United Kingdom called Medopad Ltd to use artificial intelligence for the purpose of improving Parkinson's disease treatment. The company is collaborating with Medopad to develop a system to remotely monitor patients with severe movement disorder. The company said that the basic goal is to allow doctors to set drug doses and modify care without patients having to go to the hospital. Healthcare is increasingly "not only about what happens in the clinic, but what happens in the real world", Wei Fan, Tencent's executive director for medical AI research said. "The reason we want to work with Medopad is they're experts in monitoring patients." Founded in 2011, Medopad has received funding from German pharmaceuticals firm B...

8Oct By Gauri SinghNo Comments

CHINA

China’s EV Startup WM Motor Commences Delivery

China’s EV company WM Motor has started volume delivery of its first model, the EX5 SUV marking its first entry into the country's booming new energy vehicles space. The company has been backed by internet giant Tencent and was established in 2015. It has a plant capable of producing 200,000 vehicles in Wenzhou, Zhejiang province. "This is a milestone for WM Motor, and the first step in our long journey ahead," said the company's chairman and CEO Freeman Shen. The company claims to be the first startup in China and even globally to deliver on time. It stated that they planned three years ago to deliver their vehicles in September 2018, and made it. WM Motor had received more than 4,000 orders as of now and expects to deliver at least 10,000 vehicles this year. It is available in th...

5Oct By Gauri SinghNo Comments

CHINA

China’s Software and IT Sector Witnesses Faster Growth

China’s software and IT sector are reportedly witnessing faster growth in terms of both revenue and profit in the first eight months of the year. According to the Ministry of Industry and Information Technology (MIIT), the total revenue of the sector was around $574.19 billion (3.95 trillion yuan) in January-August, increased from 14.8 percent from the last year, quickening from 13.8 percent in the same period a year ago. Combined profits in the sector marked 492.4 billion yuan, up 13.7 percent year-on-year. These picked up the pace from 12.1 percent a year ago and 13.5 percent in the first seven months. Along with this, the MIIT data also showed faster export growth and increases in both, the number of employees and the average salary level as well. China's software and IT sector wi...

2Oct By Gauri SinghNo Comments

CHINA

Wanda to Enter China’s Healthcare Space with USA’s UPMC

China’s popular conglomerate Wanda Group has entered into a strategic partnership with USA’s leading hospital UPMC. This has been done to jointly build international hospitals, as part of the company's deeper entry into the country's burgeoning healthcare sector. Wanda is a property-to-entertainment conglomerate that will join forces with medical skills, management and services from UPMC. UPMC is a well-known medical group with over 30 hospitals in the US. Under this program, the first batch of five hospitals will be launched in top-tier cities in the country, such as Beijing, Shanghai and Chengdu. "Setting up a network of private hospitals in China can keep Chinese patients in their own country and attract international patients who live in nearby countries," said Bruno Gridelli, e...

Beijing to Build 1,628 More Electric-Auto Charging Piles

1Oct By Gauri SinghNo Comments

Automobile, CHINA

Beijing to Build 1,628 More Electric-Auto Charging Piles

China’s capital Beijing has announced to add 1,628 more public charging piles for the new energy vehicles. These fresh charging services will be placed in crowded areas near shopping malls, hospitals, hotels and parks in more than 10 districts around the city. At present, the Chinese city has a total of 132,000 charging piles for new energy vehicles, and with this addition, it is going to expand more. The demand and sale of electric vehicles are increasing day by day. New energy vehicle sales went up 49.5 percent year-on-year to 101,000 vehicles last month, on the other hand, production rose 39 percent to 99,000 vehicles. China has been the world's largest new energy vehicle market for three continuous years. Last year, the country sold around 777,000 vehicles. The country produce...

Alibaba Launches its Second Availability Zone in India

29Sep By Gauri SinghNo Comments

CHINA

Alibaba Launches its Second Availability Zone in India

The cloud computing arm of the Alibaba Group has reportedly launched its second availability zone in Indian city Mumbai. The company stated that this freshly built zone will complement the first availability zone that was opened in January this year. This will provide products such as Elastic Computing, Storage, Database, Network, Application Services and Big Data Analytics to offer services according to the requirements of local governments and enterprises. This move has been the part of Alibaba’s strategy for the purpose of expanding its global existence to provide services to a growing client base meanwhile targeting new local customers. Alibaba Cloud at present has 50 availability zones across 18 economic centres across the globe, with coverage extending across mainland China,...

27Sep By Gauri SinghNo Comments

CHINA

WeChat Pay HK Expands Payment Services to China

Internet giant Tencent has got into an association with China’s largest payment provider China UnionPay and its subsidiary UnionPay International for the purpose of offering cross-border mobile payment services for Hong Kong residents. This will also allow the users to use the Hong Kong version of WeChat Pay on the mainland. The major objective behind this step is to further promote integration between Hong Kong and the Chinese mainland. This is being done to make life and work easier for Hong Kong people in the Guangdong-Hong Kong-Macao Greater Bay Area. The users of WeChat Pay HK will be able to enjoy a range of cross-border mobile payment services on the mainland such as visiting restaurants, booking train tickets and hailing cars from October. "The cross-border mobile payment wi...