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BIG TECH COMPANIES
1. Didi Chuxing launches in Japan with SoftBank
What : The Chinese giant Didi Chuxing deploys its service in Japan through a joint venture with SoftBank Group, its long-time partner, said Thursday Didi. The service, which will only allow registered taxi drivers to register as drivers, will begin operating in Osaka this fall, before expanding into other major cities.
Why It Matters : As the domestic market becomes more and more saturated, Didi has ventured out of China in the last two years and has partnered with start-ups local markets such as Singapore, Estonia and India. Middle East.
Large image: Despite the strict limits imposed on competition by start-ups, the Japanese taxi industry is in decline, a trend that could be reversed by the arrival of Didi and Uber . The country also expects a tourism boom as the 2020 Olympic Games approach, which will take place in Tokyo. (Source: Caixin)
2. Tencent will extend WeChat to the United States to serve Chinese tourists
What : Chinese Internet giant Tencent signs stores, restaurants and transportation services to the United States to accept the mobile wallet popular of society. . The US service, targeting Chinese tourists, will be deployed as early as the month of August.
Why is it important? : The move builds on Tencent's previous attempts to bring WeChat Pay to the United States, a popular destination for Chinese tourists. Tencent was previously badociated with a US-based mobile payment platform, but failed to strengthen its presence.
Big picture : The mobile payment industry has ample room for growth in the United States. The Chinese tourist spends more than $ 4,000 on a trip to the United States, but less than a third of transactions are made on mobile devices. (Source: CNBC)
3. Google returns to China with the game WeChat AI
What : Google launched Wednesday a game of type Pictionary powered by artificial intelligence (AI) on WeChat, a social media application widely used in China. The game seems to be a hit, with screenshots of the game's sketch quickly spreading on users' social media feeds.
Why That's Important : Google has withdrawn from China in 2010, but has gradually become more active in the market in recent years. In particular, he developed his AI muscle in China, creating an AI center in Beijing in December. (Source: Caixin)
POLICY
4. Beijing: cap on subsidies for new energy vehicles
What: Beijing authorities have capped subsidies to local car makers at 60% of the unit price per vehicle, the municipal government said Thursday.
Why It's Important : Change is China's latest effort to reduce subsidies for new energy cars, which have been paid to manufacturers since 2010 with the goal of reducing costs for consumers. The policy is now becoming more selective, with mbadive spending putting increased tax pressure on central and local governments. (Source: Official announcement, link in Chinese)
DEALS & FUNDRAISING
5. Voice Services Provider Becomes the Last Artificial Unicorn in China
What? : Unisound, an artificial intelligence voice provider, reported 600 million yuan ($ 89.3 million) to several public funds.
Why It's Important: The latest fundraiser values the company at a billion dollars, making it China's newest unicorn. The 6-year-old company specializes in the use of AI to provide services that can listen and respond to speech, with applications in home appliances, cars, and hospitals.
Large Image : China supports advanced technologies, including AI, through mbadive funds backed by the state, with the aim of transforming the country of one low-end manufacturer to a high-tech economy. (Source: Caixin)
6. Koolearn The Last Online Educator to Become Public
What : Online educator Koolearn filed an initial public offer application in Hong Kong on Tuesday. The company has not mentioned how much it plans to increase.
Why That's Important : Koolearn would be the largest online education brand in the college exam preparation market in China, with a 8.2% share in 2017 according to income. Koolearn was founded in 2005 by New Oriental Education & Technology Group Inc., a leading player in the New York-based market.
Large Image : A number of Chinese educational firms have become public in Hong Kong and New This year, York has been striving to cement its first steps in a fragmented yet expanding sector Fast multi-billion dollar fed by parents who give priority to the education of their children in a highly competitive society. (Source: Caixin)
Compiled by He Shujing.
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