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Bytedance said to be sounded out by authorities about listing on Shanghai’s new tech board

Beijing-based Bytedance, operator of global short video hit app TikTok, known as Douyin in mainland China, has been contacted by authorities for a potential listing on the much-anticipated Technology Innovation Board in Shanghai, according to people familiar with the matter.The seven-year-old start-up started talks with investment banks about its IPO plans last summer. Before the option of listing on the new Shanghai tech board came up, Bytedance was considering either New York or Hong Kong,… Source link

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Investors demand to know how IPOs will be priced in the run-up to China’s new tech board launch

Mainland Chinese equity investors were demanding to know how initial public offerings will be priced on Shanghai’s hotly-anticipated new technology board as a public consultation period drew to a close on Wednesday.Fund managers and retail investors said they were still awaiting a clear-cut reply from financial watchdogs to the question of how new shares on the Technology Innovation Board will be priced. They said the public consultation documents contained no reference to IPO pricing… Source link

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Tencent-backed WeDoctor said to consider listing a spin off on new China tech board

WeDoctor, an online health care start-up backed by Tencent, is in talks with financial regulators about listing a spin-off unit on a soon-to-debut technology board, according to a person familiar with the matter.The Hangzhou-based company, known for introducing China’s first internet-based hospital, is likely to list at least part of its cloud services arm in Shanghai, the person said, asking not to be named because the discussions are private.WeDoctor has two main businesses, in health… Source link

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Ecommerce 

JD.com to fire underperforming senior managers as China’s tech lay-offs extend to executive suite

China’s winter chill has reached the executive suite, with the country’s second largest e-commerce player confirming reports that it will fire under performing senior executives after several Chinese tech companies have moved to cut rank and file staff in recent weeks amid the slowing economy.JD.com said it plans to lay off 10 per cent of its management at vice president level and above in 2019, using the “rank and yank” approach which forces department heads to identify and fire their least… Source link

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China’s Greater Bay Area still has hurdles to clear if it wants to be a tech challenger to Silicon Valley

The “Greater Bay Area”, touted as China’s answer to Silicon Valley, may serve as a symbol of China’s determination to match US technological might, but a shortage of top-notch talent and schools, along with the simmering trade war between the US and China, have clouded its prospects in the short term, according to analysts.Beijing wants this proposed integrated area, which links nine cities in Guangdong province – including Shenzhen and Guangzhou – with the Hong Kong and Macau special… Source link

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Vietnam 

Retailers should use tech to meet customers’ needs – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News The boom in digital technologies in recent years has speeded up the evolution of the retail industry and changed buying habits. This requires retailers to continue to innovate to better meet customers’ diverse needs and provide them with better shopping experiences. Lê Thị Thùy Trang, director and head of retailer vertical at Nielsen Vietnam, speaks to Việt Nam News reporter Xuân Hương about the status of the industry, its trends and more. How do you see the current status of the retail industry in Việt…

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Veggie ‘meat’ start-up backed by Nasa wins financing from tech moguls and Silicon Valley climate fund

A Chicago-based biotechnology company working with Nasa to develop a new form of plant-based protein fit for supporting space exploration has received US$33 million from venture capital firms, including an energy tech fund backed by Bill Gates, Jack Ma and Jeff Bezos. The funding will support the development and commercialisation of the animal protein alternative, according to Sustainable Bioproducts co-founder and chief executive Thomas Jonas. The climate-friendly protein is a product of research into extremophile organisms that live in Yellowstone National Park’s volcanic springs. “That work led to the development…

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Uncovering the hidden ambition behind the names of Chinese tech firms and scientific projects

If Chinese scientists, engineers and most importantly politicians have their way, here is what the future would look like. Groceries will be delivered to your doorstep by an autonomous car powered by Baidu’s (百度) system. Your smartphone, unlocked by a face scan, will run on a Pingtouge (平头哥) chip. A ride on the Fuxing (复兴) bullet train will transport you to a neighbouring state or country at 350 kilometres per hour. Instead of using GPS, you will be able to pinpoint your location via Beidou (北斗), China’s home-grown satellite navigation…

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US tech supremacy and millions of jobs at stake if China gains 5G lead, congressional hearing told

The United States stands to lose millions of jobs and its competitiveness if it does not check the ambitions of China to gain leadership in 5G mobile technology, a congressional hearing was told this week. China has a coordinated state-led strategy for developing its science and technology that is not matched by the US federal government, Michael Wessel, the commissioner for the US-China Economic & Security Review Commission, said on Wednesday. The measures employed by China involve both legal and illegal means, ranging from state subsidies to procurement protectionism to…

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Asian cities are competing to woo tech start-ups with incentives

Asia is now home to many of the world’s most innovative and valuable technology start-ups. Investors have continued to pour capital into these companies, thanks to the implementation of business-friendly policies to help nurture their growth in major Asian cities. Last year, nine out of the 10 largest public venture capital deals involved start-ups in Asia – seven of which were based in China, according to capital market research firm Preqin. The cities in Asia that have succeeded in attracting a steady stream of venture capital and start-ups have relatively…

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