Ban on Tiktok will cost ByteDance $6 billion: report
According to the Paper (in Chinese), a source close to Bytedance says that the Chinese media giant behind Tiktok expects to suffer $6 billion in losses over India’s ban on Chinese apps. Bytedance products TikTok, Helo, and Vigo Video are all listed. Why it matters:…
Apple purges 3,300 games from China App Store in 2 days
More than 3,000 games have been removed from Apple’s China App Store in the first two days of July, a move the company has warned developers about as it closes a loophole which allowed unlicensed paid games to list on the platform. Why it matters: This…
India ban on Chinese apps explained: Who, how, what now?
After years of growing its presence in the Indian market, the Chinese tech industry ran into a brick wall in India Monday. Amid political tensions with Beijing, New Delhi banned 59 Chinese-made apps. Who’s behind the ban, what are they saying, and what’s next? TechNode…
China’s SAIC to take over Luckin founder’s car business
China’s biggest automaker SAIC Motor is hammering out a deal for a potential takeover of Car Inc, the Hong Kong-listed car rental company which had shared a chairman with scandal-ridden Luckin Coffee. Why it matters: If the deal proceeds, Luckin founder Charles Lu and his…
Alibaba is the top global blockchain patent holder
Alibaba and its mobile payment affiliate Alipay together hold the highest number of blockchain patents worldwide, though China lags significantly behind the US. Why it matters: The results of a study by the China Patent Protection Association indicate that China has a long way to…
Intel resumes shipment to Chinese server maker Inspur
China’s biggest server maker, Inspur, said Friday that Intel has resumed shipments to it. The American chipmaker briefly suspended shipment after Inspur was added to a US list of Chinese companies it deems military-controlled. Why it matters: The list, announced by the US Department of…
India shoots itself in the foot with app ban
While privacy and security of Chinese technology have been sources of concern for the Indian government, it was the recent border tensions that triggered Monday’s app ban. After reports of the deaths of 20 soldiers, right-wing activists called for the boycott of Chinese goods. Videos…
Luckin’s Charles Lu survives first round of ouster
Luckin Coffee announced Thursday that Charles Lu will remain board chairman of the embattled Chinese beverage chain after a proposal to remove him from the position failed to get the number of votes needed to pass. Why it matters: The struggle for control at the coffee…
Quarterly deliveries for EV maker Nio hits record high
Chinese electric vehicle maker Nio set a record for quarterly vehicle deliveries despite disruptions due to the Covid-19 outbreak, sending its shares soaring 16.6% to $9.23 in premarket trading. Why it matters: Amid an extended slump in China’s EV market, Nio is accelerating into the…
Investors beware: there’s a new ‘China Hustle’
“The China Hustle,” a documentary from a few years back, depicts a special type of stock market fraud. Obscure Chinese high-tech manufacturers, agricultural producers, and mining companies would list on overseas stock exchanges. Investor conferences, investment funds, and stockbrokers played up each company’s connection to…
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