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Remove the block. Alibaba announced that it would create a subsidiary to develop semiconductors. China's confidence in foreign computer chips has become a nightmare for the country and its companies, especially since US sanctions against telecom manufacturer ZTE completely shut down the company's business early this year. Alibaba's new subsidiary, Pingtou Ge, is named after the badger because, like badgers, computer chips are small but powerful. Alibaba has invested in five semiconductor companies over the past year and aims to produce its first AI-compatible chip next year. South China Morning Post
granted Tencent Music is expected to raise $ 2 billion during its next IPO; half of the $ 4 billion figure that had already been announced. According to reports, the company would sell less shares than expected but has not changed its forecast of $ 30 billion. Financial Times
Meituan book. Shares in the Chinese superapplication Meituan climbed 7 percent on their first trading day on Thursday, bringing the company's valuation to $ 51 billion, higher than 42 of the 50 companies included in the Hang Seng benchmark. Shares closed at 5% on the first day. South China Morning Post
Dragonfly net Google removes a memorandum distributed to employees that details the developments of its censored search application in China. The memo shows that the project, code-named Dragonfly, has grown more than Google leaders will admit. L & # 39; interception
Huawei forbidden? Last week, the Economic Times of India announced that Huawei, China's leading telecommunications equipment manufacturer, and ZTE have been prevented from participating in the construction of India's 5G network. The embargo would occur in the wake of the blockage of the two Chinese companies in Australia and the United States. But Huawei later responded to the report, describing it as "inaccurate" and claiming that the Indian government was open and welcoming to Huawei. ZTE did not answer. Caixin
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