China Tech News

Technology product solutions and supply chain services platform VST Holdings will establish a joint venture with Tsinghua Holdings to develop supply chain financial businesses in the technology industry.
Tsinghua Holdings' subsidiaries and related companies will hold a combined 55% stake in the joint venture; while VST Holdings will own the remaining 45%. The total investments in the JV is CNY1 billion, including CNY500 million registered capital.

The businesses of the new JV will cover supply chain finance, consumer finance, new retail and industry merger and acquisition and investment in the technology industry.

more...

Japan's SoftBank Group formally announced that they have reached a deal with China's ZTE to implement field testing of 5G communications technologies in Tokyo.

The testing is led by SoftBank and ZTE is mainly responsible for support during the process. The frequency being tested is 4.5GHz.

This is reportedly not the first time for ZTE and SoftBank to cooperate. Their previous cooperation was mainly in the research and development of large capacity multi-input and multi-output technology, which is a basic technology for 5G communications. Due to the good cooperating relationship of the two parties, SoftBank and ZTE decided to further explore the 5G sector together.

more...

Taiwan's Hon Hai Precision Industry, parent company of Sharp and Foxconn, is reportedly planning to build two new factories in the U.S. for the manufacturing of mobile phone screens and large TV screens.

The company will invest a total of USD7.3 billion into the two factories for LCD panel manufacturing and 10.5-generation production technology will be applied to make 65-inch or above TV screens.

more...

Germany's industrial robot manufacturer Kuka Group has made an ambitious plan to enter the personal assistant robot market with the help of Midea Group.

In 2016, China's Midea acquired Kuka for EUR4.5 billion.

Till Reuter, chief executive officer of Kuka, said that they have seen the potential to use Midea's advantage in the consumer sector to develop robots that can assist in handling daily chores. Reuter said Midea is not engaged in any business related to robot or automation; therefore, Kuka will be Midea's automation business. At the same time, Midea is good at developing within the consumer industry. Based on these conditions, the two parties decided to join hands in consumer robot development.

more...

Samsung is considering selling its Chinese LED business Tianjin Samsung LED Company Limited to a private equity company in Hong Kong.
According to reports in South Korean local media, Samsung's business for sale includes a LED packaging factory and facility site. An unnamed Hong Kong private equity company showed interest in the business and the company is doing its due diligence.

more...

The Chinese adage that the tall blade of grass gets cut first is definitely true this week, as China's top social media and microblogging platform has been ordered to stop its online video operations.

China's State Administration of Press, Publication, Radio, Film and Television issued a statement that all websites and online companies who lack sufficient licenses to provide streaming video services should halt those services immediately.

more...

China's largest portal website company Tencent announced via its online forum that Tencent OS would stop providing services from June 28, 2017.

The company recommends that users back up their data information as soon as possible.
Tencent officially opened testing of its Android smartphone system Tencent OS in 2015. In 2016, the company launched Tencent OS 2.0.

Tencent OS said that due to the depression of the third-party ROM market, Tencent OS will be a footnote in history. The company expressed appreciation for the support and trust of users. Tencent OS will formally stop all services on June 28.

more...

Cainiao Network Technology, logistics subsidiary of Alibaba Group, announced plans to cooperate with China Life to set up a logistics warehousing fund with a scale of CNY8.5 billion.

Morgan Stanley will be the exclusive financial consultant of this fund.

This is reportedly the first logistics warehousing fund established by Cainiao. As a general partner of this fund, Cainiao will be responsible for the unified operation and management of fund assets.

more...

Chinese online game developer and operator The9 announced plans to sign a share financing agreement with South Korean listed company IE Limited.

According to the agreement, The9 will issue 125.5 million new shares with the value of USD15 million to IE Limited. In return, IE Limited will offer 14.55% shares of Smartposting Co. Limited, its Key Opinion Leader marketing company, for exchange.

more...

China's JD Group and Japan's Mitsubishi Chemical Holdings Group will begin working together on large-scale vegetable growing services.

With the cooperation, JD will tap the vegetable production sector, while Mitsubishi Chemical will provide related plant factory and cultivation techniques to the Chinese e-commerce group.

more...