China
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Finance
PayPal to enter China through GoPay acquisition
The People’s Bank of China has approved PayPal’s acquisition of a 70% equity state in GoPay (Guofubao Information Technology Co.…
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Trends
Alibaba unveils Hanguang 800, an AI inference chip it says significantly increases the speed of machine learning tasks
Alibaba Group introduced its first AI inference chip today, a neural processing unit called Hanguang 800 that it says makes…
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STARTUPS
SimShine raises $8 million for home security cameras that use edge computing
SimShine, a computer vision startup based in Shenzhen, has raised $8 million in pre-Series A funding for SimCam, its line…
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Trends
Jack Ma officially retires as Alibaba’s chairman
Jack Ma stepped down as Alibaba’s chairman today, handing the role over to the company’s current CEO Daniel Zhang. The…
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Trends
Alibaba acquires NetEase Kaola in deal worth $2 billion
Alibaba Group has acquired NetEase Kaola for $2 billion, the two companies said today, and will integrate it into Tmall,…
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STARTUPS
WeChat restricts controversial video face-swapping app Zao, citing “security risks”
Zao went viral in China this weekend for its realistic face-swapping videos, but after controversy about its user policy, WeChat…
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Finance
WeChat Pay and Alipay partner QFPay raises $20 million to develop new digital payment solutions
Digital payments startup QFPay announced today that it has raised $20 million in new funding led by returning investors Sequoia…
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