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Focus China News Roundup- Issue #45

Every fortnight we compile a list of important news updates and events covering the Chinese FINTECH, MFGTECH, CLNTECH, and AGRTECH sectors.

For a downloadable copy of China’s Issue #45

FINTECH

Standard Chartered lunches blockchain trade platform with Chinese fintech
United Kingdom-based multinational banking firm Standard Chartered has launched a blaockchain-powered trade finance platform through a joint venture with Chinese supply chain finance technology provider Linklogis.

Hang Seng Electronics launches digital RMB payment solution
Hang Seng Electronics has launched digital RMB payment solution and implemented it in many commercial banks. In addition to helping cooperative banks to access the platform, Hang Seng digital RMB payment solution also supports operating institutions as merchants, reducing the transformation cost of accepting institutions to access the digital RMB ecology, and improving the access efficiency.

Kingdee International’s first-half revenue was 1.87 billion CNY
Kingdee international’s first-half revenue was about 1.872 billion yuan, up 35.0% from the same period last year. The group’s cloud business revenue increased by 55.1% year on year to about 1.24 billion CNY, accounting for about 66.1% of the revenue.
Luran He is the Deputy General Manager of Corporate Strategy at Kingdee Software

Data-sprite completed seed round financing
Data-sprite completed seed round financing. The investor ia Hanergy Venture Capital. This financing is mainly used for product research and development, marketing and team expansion. Data-sprite is a financial big data service platform, providing one-stop big data service for entrepreneurial project parties and investors.

4Paradigm submitted its prospectus to Hong Kong Stock Exchange
4Paradigm submitted its prospectus to the Hong Kong
Stock Exchange on August 13 to list on the main board. In 2020, the revenue of 4Paradigm was 942 million CNY, up 105% year on year. In terms of revenue in 2020, 4Paradigm ranked first in the platform-centric decision-making AI market in China.
Wenyuan Dai is the Founder & CEO at 4Paradigm

Journey payment officially launched
Journey Payment has been officially launched in the Ctrip APP. In addition to Flash pay, Alipay and wechat Pay, Ctrip has added a Journey Payment entrance when paying for purchases within the App. At present, Journey Payment supports more than 50 bank cards binding. 

35 banks have embedded digital RMB apps
At present, 35 banks have embedded the digital RMB App, and related functions of the App have been upgraded and expanded recently. When a large number of banks access the digital RMB App, two access models emerge. One is through operating institutions, currently six state-owned banks.

Digital RMB has been used in futures markets for the first time
Dalian Commodity Exchange paid storage fees to Dalian Storage and Transportation Company in the form of digital RMB, realizing the first application of digital RMB in the futures market.

Suzhou completed the first test of using digital RMB in driverless bus
A driverless bus operation in Suzhou has completed its first digital yuan payment test. Suzhou’s unmanned bus operation has realized all-channel payment such as digital RMB, UnionPay cloud flash payment, wechat, Alipay, bank’s Fast payment, transportation interconnection card and Suzhou citizen card

CloudWalk carries out AI application for ASEAN
CloudWalk will set up an ASEAN Artificial Intelligence Innovation Center in Guangxi. Together with its partners, it will provide support applications for ASEAN, including smart port, smart city, private computing, trusted cloud
and human-machine collaboration platform.
Xi Zhou is the president at CloudWalk

BasicFinder completed the B round financing of tens of millions of CNY
AI data infrastructure provider BasicFinder completed B round financing of tens of millions of CNY. This round of financing will mainly be used for core technology research and development, and in-depth optimization of functions and automation level of all links of BasicFinder SaaS platform.
Lin Du the CEO at BasicFinder

Xdian Digital completed tens of millions CNY pre-A round of financing
Xdian Digital received tens of millions of CNY pre-A round of financing from Sequoia China Seed Fund. This round of financing is mainly used for team expansion, product research and development, and in-depth development of scenario solutions for segmented industries.

More than 58 million blockchain electronic invoices have been issued in Shenzhen
Blockchain electronic invoice marks the third anniversary of its arrival in Shenzhen. Shenzhen blockchain electronic invoice system has issued more than 58 million invoices, with an average day of more than 120,000 invoices.

Zhongyun Principal obtained A Round of financing of tens of millions
Zhongyun Principal, A financial payment and Internet of things security solution provider, won tens of millions of CNY A round of financing, with shenzhen Hi-tech Investment as the investor. This round of financing is mainly used to increase investment in research and development.

AGRTECH

Pinduoduo Says it will help farmers to bring out “full value” by building agriculture brands
Pinduoduo, one of China’s largest agriculture platforms, said it will help promote geographical indications and work with farmers to build agricultural food brands so that they can bring out the full value of their labors.
Martial Ma is the Vise President at Pinduoduo

Guangdong Unicom cooperates with Jieyang City for rural revitalization
Guangdong Unicom and Jieyang Municipal Government will cooperate to implement the rural revitalization strategy. The two sides will cooperate in digital agriculture, digital countryside, talent science and education, rural e-commerce and other fields. Guangdong Unicom will build a digital agricultural industry cloud application service platform, an agricultural IoT perception platform, and an agricultural digital operation and management platform to promote the agricultural digital construction in Jieyang City.

Hema signed a cooperation to promote country specialties
This year, Alibaba will promote agricultural products from 100 counties (districts) across the country to enter Hema. With the support of digital technology and sales channels, Alibaba will reduce the cost of matching supply and demand information and boost the branding of characteristic agricultural products. The first batch of 10 characteristic counties have signed contracts with Alibaba to obtain its digital support and promote the building of a new supply and marketing system.
Chirs Tung is the Chief Marketing Officer at Alibaba Group

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