Ctrip, Baidu launch AI pocket translator for tourists -- Chinese online travel agency Ctrip and internet giant Baidu on December 22 launched a new pocket translator for tourists. Users can talk into the gadget, which is smaller than the palm of a hand, while pressing a button in the center. Through artificial intelligence (AI) technology, the device will translate speech into the target language almost simultaneously. The translator is connected to the internet through an embedded SIM card that can work in more than 80 countries and regions and doubles as a portable WiFi hotspot.
Kaola aims at quality for less with new product platform -- NetEase Kaola, the cross-border e-commerce platform of NetEase Inc, unveiled a global factory store project on December 21, aiming to bring Chinese customers quality items with lower prices. Products covering six categories -- including apparel, maternity and infant care, household appliances, and personal care -- are among the first batch on the platform under the plan, said Yuan Foyu, marketing general manager of Kaola. (Source: China Daily)
Fosun buys 18 pct stake in Tsingtao Brewery -- Chinese investment conglomerate Fosun International has agreed to buy a 17.99 percent stake in Tsingtao Brewery from Japanese beverage group Asahi. Fosun announced on December 20 that it would buy 243 million shares of Tsingtao Brewery in Hong Kong at a price of 27.22 Hong Kong dollars per share. The offer represents a 32 percent discount on Tsingtao Brewery's closing price of 40 Hong Kong dollars on December 20.
Didi gets over $4bln in fresh funding -- Chinese ride-hailing giant Didi Chuxing announced on December 21 that it has raised more than 4 billion U.S. dollars in fresh funding, boosting its ammunition to expand overseas and dealing a blow to its biggest rival, Uber Technologies Inc. The total funding of Didi, including its last round of funding in April with more than 5.5 billion U.S. dollars, will exceed 9.5 billion U.S. dollars this year alone, and around 20 billion U.S. dollars in total, according to a preliminary estimate. The company will also surpass its original value of more than 50 billion U.S. dollars, strengthening its position as one of world's most valuable startups. (Source: China Daily)
Shanghai marketing firm fined over incomplete national map -- A Shanghai-based marketing firm has been fined 1 million yuan (152,905 U.S. dollars) for using an incomplete Chinese national map in advertisement. According to State Administration for Industry and Commerce, Shanghai H&H Marketing Consulting Co. used the wrong map in an advertisement it designed for a real estate developer on display in trains and airplane cabins. The marketing company, despite being aware of the mistake, did not make timely correction and allowed "harmful" results to occur. The act has damaged the dignity and interest of the state, said the administration.
Trinseo banks on quality for sustained growth in China -- New York-listed material solutions provider Trinseo is planning to ramp up production and sales in China through a new Acrylonitrile Butadiene Styrene (ABS) plant in Zhangjiagang, Jiangsu province and leveraging the growth opportunities from China's boost in consumption. Tim Stedman, senior vice-president and head of plastics and feedstock division, Trinseo, said that the company hopes to grow in China in line with Made in China 2025 by providing materials solutions to Chinese manufacturers shifting to a quality-oriented growth strategy. (Source: China Daily)
CapitaLand to smarten property offerings -- CapitaLand Group, one of Asia's largest real estate companies, will step up efforts in technology innovation in China and explore setting up buildings, malls and communities that are all "intelligent", in a bid to accelerate digitalization of its property offerings. Toward this end, the company has sealed technology collaborations with leading Chinese players. It will launch a China-focused venture fund and roll out facial recognition technology at its offices and malls in China and Singapore. (Source: China Daily)
China Unicom becomes official Olympics telecom -- China Unicom, the country’s second largest mobile carrier by subscriber count, has become the official telecommunications service provider for the Beijing 2022 Winter Olympics. Under the deal inked on December 26 in Beijing, China Unicom will explore cutting-edge technologies to offer all telecom services for the event, and enjoy a wide range of benefits that come with the Olympic brand, Beijing 2022 organizers said in a statement. (Source: China Daily)
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