Alibaba today announced it will invest $3.6 billion in Sun Art Retail Group, a huge hypermarket and supermarket operator in China. Sun Art is the largest retailer in China and competes head to head with Walmart.
China Passes Export Control Laws for Sensitive Export
China has fired the latest shot in the ongoing trade war with the US, passing legislation to restrict exports of sensitive technology.
IMAX CEO: When Is The Rest Of The World Going To Catch Up To China?
Richard Gelfond, CEO of IMAX, says that China and Asia, in general, are ahead of the rest of the world in feeling safe and resuming their lives including going to the movies.
China Won’t Approve TikTok Deal, Says State Media
Based on what I know, Beijing won’t approve current agreement between ByteDance, TikTok’s parent company, and Oracle, Walmart, because the agreement would endanger China’s national security, interests and dignity.
Autonomous Driving for Trucks Will Happen First, Says Full Truck Alliance CFO
“We think the commercialization of autonomous driving for trucks will probably take place a lot sooner than it will take place in the passenger car vehicle sector,” says Richard Zhang, CFO of Full Truck Alliance.
TikTok Oracle Deal Approval Imminent
President Trump told reporters today that he heard that Oracle and TikTok are “very close to a deal.” He said that a decision on the pending deal will be made “pretty soon.”
WSJ: TikTok Sold To Oracle
According to the Wall Street Journal, the U.S. operations of TikTok have been sold to Oracle pending a security review by the government of the United States. Earlier today Microsoft made a blog post saying their offer for TikTok had been rejected.
GM Announces Electric and 5G Connected Vehicle Roadmap For China
At Tech Day, China’s version of GM’s EV Day, GM has announced major advancements coming to its vehicles in China.
Foxconn Boss: China’s ‘Days As The World’s Factory Are Done’
Hon Hai Precision Industry Co. (Foxconn) Chairman Young Liu has said China’s “days as the world’s factory are done,” largely because of the US-China trade war. Foxconn is the primary manufacturer of Apple’s iPhone, as well as a leading manufacturer…
Trump Bans TikTok and WeChat, Effective September 15
President Trump has followed through on his promise, issuing a ban on TikTok, as well as WeChat, with both bans set to take effect in mid September.