Famous Beijing-based giant Didi denied any allegations of plans to go private in a bid to satisfy the Chinese government amidst latest regulations concerning users’ data security. After the Wall Street Journal released a report discussing the possibility of Didi going private, the ride-hailing app’s shares increased by approximately 50 percent in Thursday’s pre-market trade. The company has been targeted by Beijing regulators ever […]
China
Chinese mobile service revenues are expected to grow at a compounded annual growth rate CAGR of 3.1 percent from $131.3 billion in 2021 to $152.7 billion in 2026, according to a study published on Thursday. London-based data analytics company, GlobalData published a study showing that the mobile data revenues will witness a rise in its CAGR reaching 6.8 percent due to the growing adoption of 5G services, followed by the rise […]
Late on Wednesday, Xinhua News Agency reported that China’s latest regulations against tutoring for profit and Big Tech is beneficial to the country’s growth as it stiffens its commitment to expand its capital market, leading to a share plunge in education firms. China’s latest attempt to ease financial pressure on families that support low birth […]
Shares in Shenzhen-based media titan Tencent tumbled on Monday following China’s verdict to restrict its private music licensing deals with record labels around the globe, halting the platform’s efforts to show sovereignty over online music streaming in the country. On Saturday, China’s State Administration of Market Regulations (SAMR) announced that the firm is not abiding […]
Chinese ride-hailing titan Didi plunged by more than 11 percent in New York shares on Thursday, following whispers of impending new penalties by Beijing on the company. The ride-hailing giant is once more exposed to further pressure from the Chinese government leading to harmful impact on its revenues after trustbusters ordered it to be removed […]
Tencent, the Chinese tech-company labeled as the biggest around the globe, has officially launched facial recognition technology that will be utilized to scan many Chinese kids’ faces every single night. The system will operate for the purpose of catching minors breaking the gaming curfew set by the Chinese government. This may seem like one intense episode of […]
Tencent revealed on Monday plans to acquire British video game company Sumo Group in a $1.27 billion deal, raising Sumo’s last closing price. The Chinese titan already owns 8.75 percent of the company’s stake, and with this purchase it will increase Sumo’s last closing price by offering a premium 43 percent rise, according to Games […]
Ericson reported on Tuesday a grow in its organic sales of eight percent of its market value as Geopolitical tensions grow between the Swedish company and the world’s second largest economy, following the company’s warning of its deteriorating market share in China. The telecoms vendor – one of Huawei’s biggest competitors – announced that both […]
An assemblage of China’s biggest tech companies has cooperatively signed on Tuesday an antitrust ‘self-discipline’ agreement with Beijing’s expanding regulatory pressure on Chinese tech firms. E-commerce platform Alibaba Group, Tencent, and TikTok’s parent company ByteDance are amongst 33 Chinese tech companies that have voluntarily signed an agreement of self-discipline amidst Beijing’s regulation rise on Big Tech companies. Some of China’s biggest and most dominant tech […]
The U.S. Department of Commerce sanctioned on Monday 14 Chinese tech companies over links to human rights abuses against Uyghur Muslims in Xinjiang, northwest China. Adding these firms to the Entity List restricts American companies from collaborating with any of the listed businesses without a special license. Among the listed companies is DeepGlint, a Chinese […]