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Ping An Insurance to list three unicorns ‘when timing is right’, invest US$1.4 billion in tech units

Ping An Insurance (Group), buoyed by the successful listing of its first unicorn, Ping An Healthcare and Technology in April last year, plans to list three other start-ups valued at more than US$1 billion “when the timing is right”.The company also said that it had budgeted an investment of 10 billion yuan (US$1.42 billion) for 2019 to expand its technology businesses.China’s largest online medical services app, better known as Ping An Good Doctor, raised HK$8.77 billion (US$1.12 billion) in… Source link

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Baidu falls further behind among China’s biggest tech firms as Meituan, NetEase overtake in market value

Baidu Inc. has fallen out of the top five most valuable publicly traded Chinese internet companies after its market capitalisation slid below that of gaming and e-commerce pioneer NetEase Inc.After a 40 per cent slide in its share price this year, Baidu’s market valuation stood at US$33.2 billion at the close of trading on Wednesday, compared with US$33.5 billion for NetEase, whose shares have risen by 11.4 per cent in the same period. Baidu declined to comment on its market valuation.Baidu… Source link

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Cheap home care for the elderly: China tech makes inroads into emerging and fast growing market

Charging elderly clients just one yuan (US 15 cents) a day, little-known Lanchuang Network Technology has embarked on one of the most ambitious undertakings in aged care by a private sector firm in China.Provided with a set-up box, a webcam paired with a TV set and “Xiaoyi”, a Siri-like voice assistant, customers gain access to telemedicine and an SOS system as well as paid-for services that include housekeeping and meal deliveries.A small robot that can ring up a medical centre in response to… Source link

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Robots to become extended family members amid advances in AI, 5G, other tech: Huawei

In a span of six years, more people around the world will potentially be living with robots – the new extended family made possible by artificial intelligence (AI), 5G and other hi-tech advances.The global penetration rate for home robots is predicted to reach 14 per cent by 2025, according to the second edition of Huawei Technologies’ Global Industry Vision (GIV) released on Friday. The report, which was initiated by Huawei last year, is designed to analyse industry development trends and… Source link

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Chinese chip maker Loongson Technology to invest US$2.1 billion in a new smart industry park in Zhejiang as China pushes for tech self-reliance

Chinese chip maker Loongson Technology plans to invest 15 billion yuan (US$2.1 billion) for a smart industry park in China aimed at attracting smart devices manufacturers and research and development enterprises, as the country pushes for self-reliance in advanced technologies amid increasing efforts by the US to contain China’s tech development.Located near the Yiwu international trade comprehensive reform pilot area in Jinhua city, Zhejiang province, the park will cover an area of over 5.3… Source link

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China 

China’s to showcase 5G dominance in response to US tech war at flagship trade fair

China’s 5G advancements by its biggest technology firms, including Huawei, ZTE, Tencent and Baidu, will be the major attractions at September’s China International Fair for Investment and Trade as a response to the technology conflict with the United States, the organisers said on Wednesday.A summit involving companies from China and the US is also on the agenda for the China International Fair for Investment and Trade although no details have been confirmed for the September 8 and 11 event in… Source link

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Vietnam 

Việt Nam wants to have 10 tech “unicorns” in 2030 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The country wants at least 20 per cent of firms to adopt Industry 4.0 by 2025 and 40 per cent by 2030. — Photo vietnamfinance.vn HÀ NỘI — Việt Nam wants to have at least five billion-dollar tech firms (unicorns) by 2025 and 10 by 2030 as planned in its draft on national strategy on the Fourth Industrial Revolution. The Ministry of Planning and Investment (MPI) announced the draft. Accordingly, the total social investment into research and development (R&D) was expected to account for 1.5 per cent of GDP by…

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China 

China nudges top tech firms from Tencent to Alibaba to give new life to struggling state giants

China is pushing ahead with plans to upgrade its lumbering state-owned enterprises, directing its leading technology firms to increase investment in underperforming SOEs.Internet companies such as Tencent were being encouraged to forge stronger ties with state firms, Chinese media quoted Hao Peng, Communist Party boss of the country’s assets watchdog, the State-owned Assets Supervision and Administration Commission (Sasac), as saying. Sasac directly supervises more than 50 trillion yuan (US$7.2… Source link

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China 

‘New red scare’ shrouds US-China tech war as Trump cracks down on intellectual property theft

Chinese scientists in America are increasingly wary that US prosecutors will unfairly pursue cases against them based on race as part of US President Donald Trump’s intensified crackdown on Chinese intellectual property theft, a hugely contentious issue in the ongoing trade and tech war between China and the United States.Such mounting worries come after Washington launched the China Initiative in November to identify and prosecute those engaging in trade secret theft, hacking and economic… Source link

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5G to stimulate US$500 billion in China tech growth over next five years, government researcher projects

The roll-out of 5G services across China is predicted to spur new growth in the country’s technology sector amid trade tensions with the United States, as industries meet the challenge of adopting advanced applications for the next-generation mobile infrastructure.At the Global Mobile Internet Conference held in the southern coastal city of Guangzhou on Saturday, a representative from the China Academy of Information and Communications Technology (CAICT) forecast that 5G will stimulate growth… Source link

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