Around 30 people were laid off after Kuaishou Technology disbanded its video gaming studio in Beijing.
Six bitcoin and ether ETFs saw US$12 million in trading on Tuesday, compared with US$4.6 billion for US bitcoin ETFs on their first day.
The world’s largest memory chip maker posted better-than-expected net income that is more than four times the company’s earnings a year earlier.
Across 16 sectors, artificial intelligence unicorns are the highest valued, at an average of US$6.76 billion, followed by financial technology firms at US$6.57 billion.
Vidu, launched by Beijing-based start-up Shengshu Technology and Tsinghua University, can generate 1080p videos as long as 16 seconds.
King Yuan Electronics Co, one of the world’s largest chip testing and packaging services firms, has divested its entire stake in a subsidiary at manufacturing hub Suzhou in eastern China.
The US carmaker has passed a test of its compliance with Beijing’s data security rules thanks to a watershed decision it says could pave the way for the removal of some restrictions on the use of its cars in mainland China.
Billionaire Elon Musk flew into Beijing on Sunday, meeting Premier Li Qiang and hoping to bring Tesla’s autonomous driving technology to China amid intensified competition with local electric vehicle makers.
Blockchain made up about 15 per cent of the talks at Money20/20 Asia this year, just slightly below the proportion of talks on AI, as interest remains high in Asia.
This was the smallest batch of video games approved so far this year by regulator the National Press and Publication Administration.
The city’s focus on China-made graphics processing units shows how mainland authorities are scrambling to build up computing resources, despite US export restrictions on advanced chips.
AeroHT, an affiliate of Chinese electric vehicle maker Xpeng, has started the countdown for the commercialisation of its flying car and plans to start taking pre-orders in the fourth quarter of this year.
A growing number of Hong Kong e-commerce merchants are expanding their business to customers beyond the city, according to the latest report by e-commerce solution provider Shopline.
Meituan’s foray into Riyadh marks the Beijing-based company’s first overseas expansion amid slowing growth in its home market.
Overseas travellers from nine countries can make payments in Hong Kong using their mobile payment apps after Ant Group expanded its digital payment network via partnerships.
International marques are mounting a spirited fightback, focusing on reliability and safety, and providing a mixed bag of petrol and electric cars for a new generations of local customers.
Henan, home to the world’s largest iPhone factory, saw smartphone exports reach 6.65 million units in the first quarter, down 60.1 per cent from the same period last year.
Hong Kong will launch its first spot bitcoin and ether exchange-traded funds next week, cementing the city’s role as a virtual-asset hub, in contrast to mainland China’s crackdown on cryptocurrencies.
The carmaker hopes to lure high-end Chinese consumers amid an escalating price war among some of its top rivals.
Sales at the South Korean firm, the world’s No 2 maker of memory, more than doubled in the March quarter, beating estimates.
Apple is still No 1 in China’s premium segment, which consists of handsets priced over US$600, but it is losing market share to Honor and Huawei, according to IDC.