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Focus China News Roundup- Issue #43

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 #43


Alipay took the lead in reducing fees for small and micro businesses
Alipay announced the details of the fee reduction for small and micro merchants: in the next three years, all Alipay merchants will continue to receive and withdraw money free, and there will be no single transaction limit or one-day limit.
Steve Shen is the Director of Operation at Alipay

The first batch of digital RMB issuance policy was completed in Shenzhen
Ping An Property Insurance Company has recently completed the first batch of digital RMB insurance policies with the Bank of China Shenzhen Branch. This marks the shenzhen insurance industry will extend the pilot application of digital RMB to the online premium settlement scene.
Xin Zhang is the Vice President at Ping An insurance

Shanghai pudong will promote an international financial asset trading platform
Pudong will promote important projects such as an international financial asset trading platform, a national commodity warehouse receipt registration center, and a private equity and venture capital equity share transfer platform.

In 2020, China’s block chain market size reached 3.24 billion CNY
China’s block chain industry is booming, and the application scenarios continue to expand. In 2020, there were 1,958 block chain projects in China, 40 block chain industrial parks had been built, the number of block chain-related enterprises reached 64,996, and the market size of block chain reached 3.24 billion CNY.

CloudWise completed a $150 million of Round E financing
This round of financing is led by
Sequoia Capital China Fund. The company will increase technology and product innovation, accelerate the implementation of intelligent operation and maintenance practice, and continue to empower digital transformation.
Simon Yang is the COO at Cloudwise

CloudWalk approved in Innovation board
Founded in 2015, CloudWalk is a high-tech enterprise incubated at the Chongqing Research Institute of the Chinese Academy of Sciences, focusing on computer vision and artificial intelligence.
Xi Zhou is the President at Cloudwalk

ArchForce completed 100 million CNY of Round C financing
This round of financing is invested by Sequoia China. The funds will mainly be used for research and development of basic technologies.

Tongniu information signed a strategic cooperation agreement with Qianxin
Tongniu information and Qianxin will set up a joint venture to jointly expand the Beijing network security marketThe two sides will conduct in-depth cooperation in the integration of enterprise security products, network security monitoring center, situational awareness platform and personnel training.

China’s cloud market scale exceeds 30 billion CNY in Q1 of 2021
In the first quarter of 2021, the size of China’s aaS+PaaS market reached 30.1 billion CNY. Ali Cloud ranks first with a market share of 40%. Tencent Cloud and Huawei Cloud rank second and third respectively with a market share of 11%

Kuaiyun won tens of millions of CNY of angel round financing
Kuaiyun, a global cross-border e-commerce infrastructure service platform, completed an angel round of financing of tens of millions of CNY. This round of financing is exclusively invested by Guangyun Technology. This round of financing will focus on SaaS product layout, service
system upgrading and high-end talent introduction.

Shiye Data Science completed tens of millions of CNY of strategic investment
This round of financing is led by Koala fund. Shiye Data Science is an investment information service provider focusing on the primary market, corporate credit, industrial planning and investment promotion business.

Shenzhen issued the first blockchain export agent certificate
Shenzhen issued the China’s first certificate of agency export goods based on blockchain technology, which is the first application of blockchain technology in the field of export tax rebate.

Huawei believes four fields will be the mainstream fields of blockchain
Huawei believes that the blockchain takes data as the core, and government affairs,
finance, medical treatment and manufacturing will be the mainstream fields of the blockchain. Businesses such as certificate deposit, supply chain finance, telemedicine and supply traceability will flourish.
Tide Xu is the Chief Strategy Officer at Huawei

Ernst & Young proposes the solution of blockchain in taxation
Ernst & young, together with the government, created the blockchain solution taxgrid to address the challenges in the process of cross-border withholding tax. The solution uses block chain technology to more securely share tax and financial information between financial intermediaries and tax authorities by creating a shared record book of all dividend transactions, and tax dividend income from the source.
Annie D. is the Executive Director at EY


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 matchingsupply 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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