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Jack Ma to give up control of fintech giant Ant Group: WSJ

China’s billionaire tech boss Jack Ma plans to cede control of Ant Group, the fintech powerhouse closely affiliated with Alibaba, the e-commerce giant he founded, The Wall Street Journal reporte

China’s $1B fine on Didi could end the mobility giant’s troubled year

Didi, the Chinese ride-hailing behemoth that has undergone a year of regulatory overhaul, faces a fine of over 8 billion yuan ($1.28 billion) from the country’s authorities, The Wall Street Jour

Shanghai gives nod to NFT trading platforms

After flagging concerns over the financial risks associated with non-fungible tokens, some of China’s authorities are putting forward guidance on how to best make use of the novel technology. Th

A huge data leak of 1 billion records exposes China’s vast surveillance state

A massive store of data containing information on about one billion Chinese residents could be one of the biggest breaches of personal information in history. Portions of the leaked data appeared last

With maiden $42M fund, Bonfire Union wants to invest in web3 like Tencent does in Web 2.0

Mask Network, a Binance-backed startup that enables users to send cryptocurrencies and encrypted messages on established internet platforms like Twitter, has an ambitious goal: to become the corporate

Founder of auto giant Geely buys Meizu as smartphone demand weakens

Remember Meizu, the once-promising competitor to Xiaomi? The Alibaba-backed Chinese smartphone maker is making a comeback — in a way — as it gets acquired by the founder of Geely, China&#8

Despite crypto ban, China’s tech talent rides the global web3 wave

Despite China’s sweeping bans on cryptocurrencies, domestic web3 talent is quietly flourishing, with many venturing beyond the country’s border. From offering crypto derivative products to

China’s tech giants promise speculation-free NFTs

The future of non-fungible tokens is getting more clarity in China as the country’s tech giants come together to formulate standards for the nascent industry. The China Cultural Industry Associa

Alibaba extends logistics arm to Pakistan for e-commerce unit Daraz

Cainiao, the logistics service operated by Alibaba, is launching two automated distribution centers in Karachi and Lahore as its first entry into Pakistan, it announced on Friday. Alibaba’s over

China’s tech giants are having FOMO on NFTs

In mid-April, a group of industry associations in China issued a warning against the potential financial risks of non-fungible tokens, digital assets that represent real-world objects or intangible go

Alibaba-backed Deeproute further slashes L4 driving costs to $3,000

Only four months after Deeproute.ai announced it planned to sell its self-driving solution at an attractive $10,000, the Shenzhen and Fremont-based startup said it has further slashed the cost by appr

Ant Group buys Singapore’s 2C2P to further global payments ambitions

Quietly, Alibaba’s fintech affiliate Ant Group has been building a global cross-border payments network by partnering with or investing in third-party e-wallets, banks, remittance services and o

Wrapped in red tape, China’s startups give up their mainland dreams

Like many ambitious Chinese who graduated college abroad during the 2010s and aspired to be the next Jack Ma or Pony Ma, Lucas returned to his motherland to build his own internet startup. Two years i

How social commerce is bridging Southeast Asia’s infrastructure gaps

Today social networks are more powerful than ever, and startups and corporations are innovating new commerce models that leverage the greater reach available to us.

Stenn banks $50M on a $900M valuation for a platform to finance SMBs that trade internationally

Globalization has been one of the biggest trends in e-commerce in the last decade: internet rails facilitate a much wider marketplace of would-be consumers and a selection of items for them to buy; an

Study of Apple’s ATT impact highlights competition concerns

An interesting new study of 1,759 iOS apps before and after Apple implemented a major privacy feature last year which required developers to ask permission to track app users — aka App Tracking

Sequoia-backed SwooshTransfer raises millions of dollars to automate cross-border payments

China’s export-oriented e-commerce has been flourishing over the last few years as the world demands its electronics, fast fashion, sporting gear and other everyday goods. While the country&#821

China’s Zhiyi Tech raises $100M to help fashion brands predict bestsellers

In China, livestreaming promotion is emerging as a popular way for brands and influencers to reach consumers, challenging the traditional e-commerce model where users browse static pictures, read revi

AR glasses maker Nreal nabs $200M funding in 12 months

China’s augmented reality startup Nreal is on a roll. The company, which hopes to bring AR to the masses by making bright-color, lightweight smart glasses, has just received $60 million in a Se

How Europe has expanded its bid to disrupt Big Tech

The European Union’s co-legislators reached political agreement on a major reform of digital competition rules late yesterday, which will introduce up-front obligations and restrictions (literal
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