Ctrip.com International, Ltd. has appointed Jane Jie Sun (pictured) as chief executive officer, as James Jianzhang Liang resigns his CEO post and remains as executive chairman of the board, the firm announced today. Sun will also become a member of the board of directors. The appointments are effective immediately. Liang, formerly chairman and CEO, will […]
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Xiaomi Inc. has launched a discovery lab to focus on artificial intelligence and virtual reality research, as the Chinese smartphone company moves to strengthen its core technology capabilities, founder Lei Jun said. “Technology discovery and innovation are at the heart of Xiaomi,” Lei Jun stated during an interview with a Chinese national television broadcaster in […]
The era of mobile Internet is ending and future opportunities in technology exist in artificial intelligence, Robin Li, the CEO of Internet search leader Baidu Inc., said yesterday at the third World Internet Conference in Wuzhen, Zhejiang province. “There will be no tech unicorns emerging from the mobile Internet sector, as it is already a […]
Hong Kong-listed investment holding company Man Wah Holdings Ltd., which was among a number of Chinese companies reportedly injecting US$600 million to LeEco, has issued a statement denying its involvement. “We did not and currently have no plans to make such investments,” the statement declared. “LeEco appears to be a company engaged in the online […]
Hony Capital is now the second biggest private equity firm in China and the 41st largest globally, after it invested over US$1 billion in the past two years, Hony’s chairman and CEO John Zhao boasted during the company’s annual forum. The private equity arm of Legend Holdings Corporation has reached a record in both fundraising […]
China is planning to launch a national clearance system for third-party online payment service providers, in an effort to standardize and control risks in the flourishing Internet payment and financial services sector, according to Chinese media reports citing insiders. The People’s Bank of China is taking a leading role in establishing the system, and will […]
Tencent Holdings Ltd. has established a strategic partnership with Qualcomm Incorporated to create virtual and augmented reality-based immersive mobile user experiences in gaming and entertainment, with the launch of a joint innovation center. The partnership is between Qualcomm’s subsidiary, Qualcomm Wireless Communication Technologies (China) Ltd., and the Interactive Entertainment Group (IEG) of Tencent. “As virtual […]
China’s Didi Chuxing has signed a strategic partnership with Avis Budget Group to let its users access Avis Car Rental and Budget Car Rental vehicles in 175 countries and regions globally, adding significant overseas capabilities as the Chinese ride sharing giant expands internationally. Through this strategic partnership, Didi Chuxing’s over 300 million registered users traveling […]
China’s Lenovo Capital and Incubator Group have made an undisclosed strategic investment in a virtual reality content production start-up SoReal, which is backed by acclaimed Chinese director Zhang Yimou. “Augmented reality, virtual reality and mixed reality will be the next great technology changing the world, after the Internet and mobile Internet,” says Yang Yuanqing, chief […]
Behind Ang Lee’s new film “Billy Lynn’s Long Halftime Walk” is an emerging movie powerhouse from China: the Fosun Group. Two of the film’s producers, Studio 8 and Bona Film Group, count the Chinese conglomerate as a shareholder. Aside from providing capital to the movie, Fosun was instrumental in working with the film’s production team […]