The TECH86 Roundup (May 09 – May 22)
Every fortnight we compile a list of important news updates and events covering the Chinese FINTECH, MFGTECH, CLNTECH, AGRTECH and MEDTECH sectors.
PBC, CBIRC, CSRC and the State Administration of Foreign Exchange (SAFE) recently released the Opinions on Providing Financial Support for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area.
China’s digital currency experiment has advanced stably amid the COVID-19 outbreak, and China will become the first major country to launch a digital currency.
China Mobile launches 5G Messaging app, Via cntechpost.
China Mobile has pioneered its own 5G messaging app, covering both iOS and Android platforms. The 5G Messaging App is a communication and service software built by China Mobile and supports sending rich messages such as text, pictures, audio and video, and geographic location.
Tencent reported earnings that beat expectations thanks to a strong performance in its gaming business and better-than-expected results out of its financial technology and advertising units.
China’s e-commerce has developed rapidly in rural areas, and has covered all 832 state-level poor counties across the country. The consumption habits of rural residences have changed with increasing services and commodities entering the countryside through e-commerce, the population of rural netizens has exceeded 250 million so far.
Chinese government increasingly support for blockchain startups to develop technologies assisting elderly care, poverty alleviation and other service sectors throughout the country.
Despite challenges brought by the COVID-19 pandemic, the third annual China International Import Expo (CIIE) will take place as scheduled from November 5 to 10 in Shanghai.
Standard Chartered Bank (SCB) has recently facilitated the completion of the first international yuan-denominated Letter of Credit (LC) transaction using blockchain, signifying an important step within the market for supporting the Renminbi (RMB).
Alibaba launches poverty relief initiative, Via Xinhua.
China’s e-commerce giant Alibaba launched on Wednesday the Poverty Relief Spring Thunder Initiative dedicated to combating poverty in the country’s rural areas.
China’s top economic planner announced on Wednesday that it will take actions to fuel the transformation of small and medium-sized enterprises (SMEs) toward digitization, as part of efforts to tide them over the tough time.
Chinese tech company Tencent is testing the application of facial recognition in games as part of further anti-addiction measures for minors under the age of 18, media reports said.
Ant Financial is to pour $73.5 million into mobile financial services provider Wave Money as part of an initiative to promote financial inclusion for the unbanked in Myanmar.
Japan, S. Korea, China could expand tech partnership,Via globaltimes.
South Korea-based technology giant Samsung Electronics’ heir apparent visited the firm’s only foreign memory chip plant in Xi’an, Northwest China’s Shaanxi Province, to assess an expansion plan.
Xiaomi and Oppo have launched apps on the Google Play stores that allow Indian users to borrow money for personal or business purposes and invest in mutual funds. The companies are replicating their China playbook to sell loans in India in an attempt to shore up wafer-thin margins on budget smartphones.
On May 18, Huawei’s official website announced that recently Huawei’s automatic driving operating system kernel (including virtualization mechanism) has successfully obtained the highest level functional safety certification in the industry safety field (ISO 26262 asil-d), becoming the first operating system kernel in China to obtain asil-d certification.
If a construction project requires unconventional brick shapes, 3D printing now provides a solution. East China’s Shanghai Municipality has applied the technology in a riverbank renovation project of the Suzhou Creek, a river passing through the city center.
China promotes local AI pilot zones, Via Xinhua.
China has been promoting artificial intelligence (AI) innovative development pilot zones at local levels. China started to build a new generation of national AI innovative development pilot zones, relying on local governments to carry out technology demonstration, policy pilot and social experiments.
Artificial intelligence has played a “major and unique” role in tackling the COVID-19 outbreak in China, ranging from patient tracking to logistical support to traffic management. AI has also been used in epidemiological research, drug design and risk management, further cementing the technology’s application in improving efficient governance and modernizing all aspects of society.
As schools in China begin to resume classes, many are using high-tech devices to measure temperatures and monitor epidemic control work.