The Latest from Rita Liao
China’s gaming giant NetEase opens first US studio in Austin
NetEase, the second-largest gaming company in China and the sixth-largest in the world, has opened its first US-based studio in Austin as China’s gaming industry slows. The company’s archr
Binance gets regulatory nod in France, paving the way for Europe push
Binance, the world’s largest crypto exchange by volume, has gained regulatory approval to provide digital asset services in France, the first European country where it has acquired such permissi
China’s tech giants are having FOMO on NFTs
In mid-April, a group of industry associations in China issued a warning against the potential financial risks of non-fungible tokens, digital assets that represent real-world objects or intangible go
After ultracharged growth, battery maker EcoFlow comes for the glampers
In recent years, episodes of extreme climate crises and power outrages have driven doomsday preppers to plan for off-the-grid survival scenarios. The mentality has been a boon to EcoFlow, a Shenzhen-b
China’s logistics robot maker VisionNav raises $76M at $500M valuation
Industrial robotics has in recent years become one of the hottest tech sectors in China as the country encourages the use of advanced technology to enhance efficiency on the production floor. VisionNa
Robotaxi rivals Pony and WeRide join Chinese ride-hailing service OnTime’s $153M round
This is an interesting day when we see two of China’s major robotaxi foes come together, offering a clue to how the industry is evolving in the country. WeRide.ai and Pony.ai, which both operate
Pony.ai scores taxi license for autonomous vehicles in Guangzhou
Autonomous vehicle startup Pony.ai has been awarded a permit in Guangzhou to operate 100 robotaxis as traditional taxis. The license, which allows Pony to charge for rides in its autonomous vehicles,
Alibaba-backed Deeproute further slashes L4 driving costs to $3,000
Only four months after Deeproute.ai announced it planned to sell its self-driving solution at an attractive $10,000, the Shenzhen and Fremont-based startup said it has further slashed the cost by appr
WeChat’s newsfeed turns 10. Is it still relevant?
Over the last few days, my WeChat has been inundated with people reminiscing about the first post they ever published on the app’s newsfeed, which marked its 10-year anniversary this week. The n
Ant Group buys Singapore’s 2C2P to further global payments ambitions
Quietly, Alibaba’s fintech affiliate Ant Group has been building a global cross-border payments network by partnering with or investing in third-party e-wallets, banks, remittance services and o
China’s work automation startup Laiye raises $160M, acquires France’s Mindsay
An ambitious Chinese startup wants a slice of the flourishing global work automation market. Laiye, a Beijing-based company that provides a one-stop platform for automating office tasks of varying deg
China further limits access to unauthorized foreign games
For years, China has left a loophole open for people to access unauthorized video games, but it’s ready to close it. Many foreign titles lack a Chinese publishing partner like Tencent to help th
Wrapped in red tape, China’s startups give up their mainland dreams
Like many ambitious Chinese who graduated college abroad during the 2010s and aspired to be the next Jack Ma or Pony Ma, Lucas returned to his motherland to build his own internet startup. Two years i
China’s banking association proposes restrictions on NFTs
The verdict that China’s web3 community has been waiting for months is here: NFTs, or the tokens used to prove the ownership and authenticity of an item, must not be used for securitization or t
China’s game engine Cocos raises $50M, goes beyond games
Cocos Technologies, a China-based game engine provider that has been around since 2010, just announced it has picked up $50 million in a Series B funding round in a bid to work on development and move
Sequoia-backed SwooshTransfer raises millions of dollars to automate cross-border payments
China’s export-oriented e-commerce has been flourishing over the last few years as the world demands its electronics, fast fashion, sporting gear and other everyday goods. While the country̵
Tencent to shut down its game streaming service
Tencent, the world’s largest video games company, said it will shutter its game streaming platform Penguin Esports by June due to “changes in business strategies.” Twitch-like Pengui
China’s Zhiyi Tech raises $100M to help fashion brands predict bestsellers
In China, livestreaming promotion is emerging as a popular way for brands and influencers to reach consumers, challenging the traditional e-commerce model where users browse static pictures, read revi
Shein said to be raising $1 billion at $100 billion valuation
Yes, you read it correctly. The fast fashion e-commerce company that few in the tech industry had even heard of two years ago is aiming to raise $1 billion at a valuation of $100 billion. Shein’
NovaXS Biotech wants to make injection therapy needle-free
A startup spawned from a lab at the University of California, Berkeley has won investor support to work on its patented needle-free injector, which it hopes can make therapies that traditionally requi