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 #33

FINTECH

Fintech companies are required to meet capital adequacy requirements
The China Banking and Insurance Regulatory Commission requires fintech companies to have sufficient capital, just like other financial institutions. As long as Internet financial platforms are engaged in the same financial business, they should have the same capital adequacy ratio as other financial institutions. The transition period will be two years, after which all financial institutions will have sufficient capital.

Aiwinn received tens of millions CNY of new financing
This round of financing was led by the Xinpao investment fund and Ruitian pilot investment. After this round of financing, Aiwinn will continue to increase investment in core technology research and development, enhance the innovation of core technology, open up new application scenarios of artificial intelligence system, and accelerate the intelligent upgrading of industrial parks, government affairs, medical care, transportation, office, home furnishing and other industries.

Tencent Cloud will set up a data center in Bahrain
Tencent Cloud has signed a cooperation agreement with Bahrain to jointly promote the development of local data center industry and cloud computing technology and help Bahrain become a regional center of cloud services in the Middle East and North Africa. Tencent Cloud will set up the first cloud computing data center in the Middle East and North Africa region in Bahrain, which is expected to go online by the end of 2021.
Terry Li is the General Manager at Tencent Cloud

Donghua Software launched a blockchain solution for the medical industry
Donghua Software has launched blockchain solutions in the medical industry. HBlock has been adopted by several customers. In terms of industrial Internet, the company has implemented a number of projects, such as “Intelligent Water Monitoring System Based on Industrial Internet”, “Anhui Yingquan Intelligent Water Plant Control Project of 29 Water Works Based on Industrial Internet”, and won the bidding of several platform projects of Jilin Province, Liaoning Province, Linfen City and so on.

Heshu Technology completed tens of millions of pre-B round of financing
The investor is Changshu Southeast Investment Co., Ltd. Beijing Debert Technology Co., Ltd. serves as the exclusive financial consultant. Heshu Technology was founded in 2013 and completed A series A financing of tens of millions of CNY in 2017. Heshu Technology provides intelligent data services, optimizes decision making and digital marketing applications. It helps enterprises achieve cost reduction and efficiency, and promote business innovation.

AliCloud and Qianxin announced a strategic cooperation
AliCloud and Qianxin will jointly build a cloud & security solution suitable for the mainstream cloud computing platform. Both sides have advantages in industrial resources, technological ecology, talent training, safe operation and other aspects to jointly expand new business cooperation.
Ray Zhou is the General Manager at AliCloud

Decathlon signs cooperation agreement with AliCloud
The two sides will bring leading digital solutions to users and promote the digital transformation of the sports ecosystem. This is the first time that Decathlon Group has localized its cloud services. The two partners will continue to collaborate on cloud computing, Internet, artificial intelligence and enterprise services.
Ray Zhou is the General Manager at AliCloud

New3S received 100 million CNY of B round financing
New3S is a big data company. This round of financing was led by Fengrun Investment. The funds will be used for the research and development of space big data and digital product technology and the business expansion of the intelligent application of space data nationwide.

Hang Seng Electronics acquires Baotai Technology
Hang Seng Electronics acquires Baotai Technology, a leading IT service provider of insurance in China. Upon completion of the acquisition, the company officially changed its name to Heng Seng Baotai Technology Co., Ltd. and became a holding subsidiary of Heng Seng Electronics.

JD Digital Economy Co., Ltd. was established
Jingdong Digital Economy Co., Ltd. was established with a registered capital of 30 million RMB. Its business scope includes cloud computing, Internet security, Internet of Things technology, real estate leasing and operation, etc. The company is wholly owned by JD Cloud Computing Co Ltd.
Lei Xu is the CEO of JD Retail

Digital economy will be developed in new infrastructure construction
The 14th Five-Year Plan for the construction of new infrastructure will be introduced to vigorously develop the digital economy. China will expand the application of 5G and speed up the construction of industrial Internet and data centers.

In 2020, China issued more than 600 policies related to the blockchain industry
Since blockchain has been elevated as a national strategy, the government cared more about blockchain industry. In 2020, the scale of blockchain industrial policies showed a blowout growth, with local governments issuing at least 600 blockchain-related policies, nearly 8 times higher than the number in 2019. The central government issued 62 blockchain-related policies, nearly four times the number in 2019.

AGRTECH

New Hope Group will build intelligent pig farm
New Hope Group will build the largest intelligent pig breeding base in Beijing. The base set up temperature measuring robot to monitor the temperature of pigs. The automatic clustering system can accurately fed the pigs according to the weight of pigs. Feed conveying and feeding and other processes all depends on intelligent equipment. After harmless treatment, pig excreta become biogas slurry, which can be used to improve soil composition and protect local ecological environment.
Jeff Yu is the General Manager at New Hope Group

State Power Investment Corporation’s first intelligent plant factory has been put into trial production
The project is a hydroponic vegetable plant factory with artificial light source. The high-precision environmental control system set in the plant factory can realize the continuous production of vegetables throughout the year. The intelligent computer and electronic sensing system are used to automatically control the environmental conditions of plant growth, such as temperature, humidity, illumination, CO2 concentration and nutrient solution, so that the growth and development of vegetables in plant factories are not restricted by the external natural conditions.

Hunan’s first smart agriculture demonstration base started construction
The base will develop a smart agricultural model suitable for Hunan’s agricultural industry environment. The construction of the base will be carried out in three steps. The first step is to build a digital rice research base to create a standard system for digital rice cultivation. The second step is to establish a digital center to realize scientific planting decisions driven by big data.

Jinhua has released a smart agricultural service system
The system is jointly launched by Jinhua Agriculture and Rural Affairs Bureau and Jinhua Branch 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”.