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Focus China News Roundup- Issue #36

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 #36


Tencent launched its first Internet data centre in Indonesia
Indonesia’s first Internet Data Center (IDC) infrastructure network has covered 27 regions and 61 available zones. Tencent Cloud has stepped up its global development in recent years due to increased overseas demand and fierce competition in China. The company has overseas data centers in Singapore, Thailand, South Korea, Japan, India, Russia, the United States, Canada and Germany.
Terry Li is the GM of Tencent Cloud

360 digital and Harbin bank consumer finance company signed a strategic cooperation agreement
They will cooperate in smart customer acquisition, fintech and big data risk control. 360 digital will help Harbin Bank Consumer Finance complete the construction of independent risk control, realize the complete process of online credit business, and improve its digital infrastructure.
Zhou Hongyi is the CEO of 360 Digital

Shuidi Company files IPO application
Shuidi Company, an online insurance platform, has filed for an initial public offering on the New York Stock Exchange, with a tentative amount of $100 million. Before the IPO, Shen Peng, founder and CEO of Shuidi Company, held 26.4 percent of the shares, while Tencent held 22.1 percent.

Digital economy, platform economy and sharing economy will be vigorously developed during the 14th Five-Year Plan period
During the 14th Five-Year Plan period, the State-owned Assets Supervision and Administration Commission (SASAC) will guide enterprises to further grasp the opportunities of the new round of scientific and technological revolution and industrial transformation, focus on the key areas of emerging industries with foundation, characteristics and advantages, and vigorously develop the digital economy, platform economy and sharing economy.

JD Group spun off JD Cloud and AI into JD Digital
JD Group has spun off its cloud and artificial intelligence businesses into JD Digital, with a total value of 15.7 billion CNY. The deal will increase JD Group’s stake in JD Digital to about 42%.
Lei Xu s the CEO of JD Retail

Tuniu travel support digital RMB payment
Tuniu Travel has been added to the six major national bank wallets of the digital RMB APP. Digital RMB can be used to pay for Tuniu Travel orders consumption.
Junqing Tan is the General Manager at Tuniu

Longhua District of Shenzhen will be a pilot zone for digital economy
Longhua District of Shenzhen has signed contracts with 12 blockchain incubators, including Tencent, Daoyi Information Technology, QuChain Technology and Defangzhi Chain, to jointly build the digital economy pilot zone.

Tencent Cloud signed strategic cooperation agreements with SuyinKaiji Consumer Finance and YunChao Financial Services
The three parties will jointly establish a joint innovation laboratory for consumer finance. They will build privacy fusion computing center based on Tencent Security DSN(Data Security Network) open platform, solve data security and privacy protection problems in data sharing, and explore innovative consumer financial services based on big data.
Terry Li is the GM of Tencent Cloud

Magic Data completed a B round of financing
Magic Data, an AI Data service company, has completed a B round of financing, with the amount of financing reaching tens of millions of CNY. This round of financing was invested by Ventron Capital. The funds from this financing will be mainly used to build MagicHub, an open source AI community covering the world.
Qingqing Zhang is the CEO of Magic Data

Tencent and China Pacific Insurance reached a strategic partnership
The two sides will carry out multi-level technical and business cooperation in fintech, WeChat ecological scene and business innovation, big health ecological synergy and other aspects. They will jointly promote the technological and business digital transformation process of China Pacific Insurance.
William Zhang is the Vice President at Tencent

WakeData raised $25 million in B+ round financing
Wakedata raised $25 million in B+ round financing, led by Tencent and Sequoia China, followed by IDG Capital and Red Dot China. The funding will be used to build core products, improve customer service and delivery systems. Wakedata, founded in 2018, is a digital service provider based on big data and AI technology.
Adam Lao is the Vice President of Sales at WakeData

ChiefClouds has received an investment of over $100 million
ChiefClouds has received an exclusive investment of over $100 million from IDG Capital. After this financing, the company will continue to consolidate its advantages in large consumer goods enterprises, carry out market promotion, and expand the industries and customer types it serves.


The launch of the unmanned farm in Hunan province was held in Changsha
As the first unmanned demonstration park of mechanized double cropping rice farm in China, this project emploied key technologies of unmanned farm from South China Agricultural University. The event fully displayed unmanned mechanized technologies in the whole rice production process, such as arable land, fertilization, field management, harvest, postpartum treatment, intelligent irrigation and agricultural condition monitoring.

Baoxin technology, Hainan rubber and Harbin Institute of Technology set up a joint venture robot company
They will establish Haijiao (Hainan) Intelligent Technology Co., Ltd. Haijiao Intelligent will build a special robot technology innovation center for intelligent agriculture. This cooperation will provide better service and support for the transformation of Hainan’s agricultural industry.

The Lake West Dongting and Zhonglian Smart Agriculture Project was officially launched
The project will make use of the high-quality water and soil environment of Lake West Dongting and Zhonglian’s technological advantages in the field of smart agriculture to realize the digitalization of rice planting and production and build a benchmark smart agriculture demonstration base. Compared with ordinary planting, the comprehensive cost of Zhonglian Smart Agriculture can be saved by 100~200 CNY/mu, and the per-mu yield can be increased by 14.3%. The quality of smart rice is higher than that of ordinary rice.

Jinhua has released a smart agricultural service system
The system is jointly launched by Jinhua Agriculture and Rural Affairs Bureau and JinhuaBranch of Agricultural Bank of China. Optimize and integrate agro-related service of various departments around the four steps, which are planting, management, harvesting and marketing, in the whole planting cycle in the field. Realize checklist management, one-stop management and integrated services. Farmers and government managers can log into the system through the WeChat public account of “One Thing in the Field”.

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