The TECH86 Roundup (Apr. 11 – Apr. 24)
Every fortnight we compile a list of important news updates and events covering the Chinese FINTECH, MFGTECH, CLNTECH, AGRTECH, and MEDTECH sectors.
Chinese media recently reported that the digital currency of the People’s Bank of China, the central bank, is undergoing internal testing at the Agricultural Bank of China, with Shenzhen, Xiong’an, Chengdu, and Suzhou as pilot cities.
For the first time, the China Development and Reform Commission has defined a clear scope for “new infrastructure.” In addition to 5G, Internet of Things, artificial intelligence and data centers, blockchain is also within the scope of new technology infrastructure.
Chinese state-owned television network CCTV reported the news on Sunday, citing a “relevant person in charge” of the Digital Currency Research Institute of the PBOC. The 2022 Olympics event is scheduled to take place in Beijing.
Hong Kong’s virtual banking boom, Via FinTechNews.
16% of Hong Kong adults currently have a virtual bank account, the equivalent of 990,000 people A further 12% plan on opening one in the next five years meaning an estimated 1.8 million Hong Kongese will have one by 2025 Finder’s global fintech editor Elizabeth Barry says the coronavirus pandemic could accelerate digital banking adoption.
Japan STO Association Releases New Regulatory Guidelines, Via Cointelegraph.
The Japan Security Token Offering Association announced on April 20 it had issued new guidelines to protect clients’ assets and privacy.
Alibaba announced plans to invest 200 billion yuan (US$28 billion) into its cloud computing business over the next three years to speed up the digitization of businesses in China following the Covid-19 outbreak in the country.
On April 14th, the blockchain research working group of the National Internet Finance Association of China (NIFA) has published the “Research Report on Financial Application and Development of Blockchain Technology in China (2020)”. The report provides:
The report hopes to offer some insights of the emerging technology, better serving the real-economy and contributing to the construction of modern financial systems.
New infrastructure projects expected to boost economy, Via Chinadaily.
China is accelerating the development of new infrastructure in an effort to hedge against the impact of the novel coronavirus outbreak and spur the economy amid mounting downside pressure. The new infrastructure involves a number of key fields including 5G, internet of things, industrial internet, cloud computing, blockchain, data centers, smart computing centers and smart transportation.
“SIA/Shanghai Intelligent Factory Exhibition”, formerly known as “Shanghai International Modern Industrial Intelligent Equipment Exhibition”, has been successfully held for many times and has become an indispensable brand exhibition for the domestic intelligent equipment industry, it covers industrial automation, robotics, AGV vehicles, machine vision and other fields. The “CME China machine tool exhibition” will be held at the same time, directly and comprehensively serving the entire industrial chain of intelligent factory industry from source to terminal.
South Korea’s 5G penetration rate reached 9.67% at the beginning of this month. South Korea has been at the forefront of the wave of 5G commercialization. It was the first country in the world to launch 5G commercial services.
Medical Wastewater Treatment In COVID Times, Via Chinawaterrisk.
Coronavirus can be found in faeces/urine so medical wastewater must be treated properly. Given COVID-19 can be transmitted through human waste, the treatment of medical wastewater is highly important; in China the MEE has already issued two standards for all hospitals.
Medical waste disposal brings challenges, big opportunities, Via Chinadaily.
Discarded masks, gloves and protective gowns are some of the coronavirus-contaminated waste burdening treatment centers. For medical waste that cannot be disposed of on-site, a company packages it in double-layers after disinfection, seals it in pressure-resistant packaging and then transports it at low temperatures for disposal. This method is helpful in reducing the risk of secondary infections by eliminating the transport process.
Researchers from the Hefei Institutes of Physical Science under the Chinese Academy of Sciences used a hydrothermal synthesis method to fabricate the nanomaterial that can work as an absorbent to remove norfloxacin, a kind of antibiotics in water.
The world’s first AI healthcare system in compliance with international standards was launched. On 7 April 2020, Ping An Good Doctor announced that it received the highest level of certification by WONCA, the world’s largest family physician organisation, for its AI healthcare system.
AI to play bigger role in tackling outbreak, Via Chinadaily.
Artificial intelligence is expected to play a bigger role in combating the COVID-19 pandemic globally, with experience from China showing that AI has worked efficiently for diagnosis.