The TECH86 Roundup (Mar. 14 – Mar. 27)
Every fortnight we compile a list of important news updates and events covering the Chinese FINTECH, MFGTECH, CLNTECH, and AGRTECH sectors.
Tencent Is Creeping Up on Alibaba in China’s Cloud Market, Via Fool.
Alibaba is the largest cloud player in China, but a recent report indicates Tencent is gaining ground. Tencent won’t catch up to Alibaba any time soon, but its renewed focus on its cloud business.
Ant Financial Announces SaaS Version of Database Solution “OceanBase”, Via crowdfundinsider.
Ant Financial Services Group, the owner and operator of Alipay, announced on Wednesday it launched the Software-as-a-Service (SaaS) version of its technology product OceanBase, a financial-grade distributed relational database that has been a key computing infrastructure for Alipay.
ZA Bank: Hong Kong’s First Virtual Bank, Via crowdfundinsider.
Hong Kong initiated a process in 2019 to facilitate digital-only banks. The move was indicative of the realization that digital banking is the future of banking.
Tencent, NetEase among top app publishers, Via Xinhua.
Internet giants Tencent and NetEase have rounded out the top two positions in a global application publisher ranking.
Tencent is first a financial corporation, then a game giant, Via Weiyang.
Tencent’s online game revenue was 30.286 billion yuan, while its financial technology and enterprise service revenue was 29.92 billion yuan in the fourth quarter of 2019. In terms of scale, online games still have a small advantage; but in terms of growth, they are far less than financial technology and enterprise services. Wechat payment is the absolute core of Tencent’s financial technology business.
China’s factories reopen, only to fire workers as virus shreds global trade, Via Yahoo.
Early in the outbreak, exporters were scrambling to fulfill orders due to Chinese restrictions and suspensions. Now, the reverse is happening – overseas orders are being scrapped as the pandemic ravages the economies of China’s trading partners.
First 5G industrial park launched in Shanghai, Via Chinadaily.
Shanghai launched its first 5G industrial park on March 12 to boost the development of the superfast technology and intelligent manufacturing.
The Ministry of science and technology supports the construction of AI innovation and development pilot areas in four cities in China, Via Intelligent manufacturing.
The Chinese Ministry of science and technology announced to support Chongqing, Chengdu, Xi’an, and Jinan to build a new generation of national artificial intelligence innovation and development pilot zones.
The market growth for unique trend due to robot’s assisting of resuming production, Via Intelligent manufacturing.
As factories resume work some are finding it easier than others to resume production due to significant investment in automation.
Agricultural sector quickens pace to go digital, Via Xinhua.
Ranging from professional training on agricultural knowledge to technical support and product sales, Chinese farmers are quickening their pace to go digital during this year’s plowing season disrupted by the outbreak of coronavirus.
China’s Coronavirus Lockdown Crushed Every Form Of Energy Generation Except Solar, Via Forbes.
As China shuttered industries during its coronavirus lockdown in January and February, every form of energy production dropped from prior-year performance, but solar was up 12 percent. Renewable generation volume will unlikely be affected significantly due to their non-dispatchability and preferential status in the Chinese power system.