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China’s Didi Raises $5.5Bln to Fund Global Push

China’s Didi company confirmed fundraising rumors today; it has raised a fresh $5.5 billion to continue global expansion and to invest deeper into emerging areas like artificial intelligence

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China’s Didi confirmed fundraising rumors today; it has raised a fresh $5.5 billion to continue global expansion and to invest deeper into emerging areas like artificial intelligence to bring more advanced systems to its transportation service.

1. Didi Chuxing, the Uber of China, confirms $5.5B raise for global and AI push

 

The company didn’t close valuation but sources very close to the company confirm to us that it is over $50 billion, with new investors Silver Lake Kraftwerk joining previous investors.

Didi has also launched a lab in Silicon Valley.

As a global technology leader, DiDi is striving to advance the transformation of transportation and automotive industries through active internationalization plans.

What’s interesting also to contemplate is whether DiDi will finally be expanding its footprint outside of China. To date, the company has done so only in the form of partnerships, intended to make for a more seamless experience to travellers as they go outside their home market but want to continue to use the same app and payment system as before.

Read the rest of the story here.

2. Silicon Valley innovation builder Singularity U launches Singapore chapter

Technology and innovation builder Singularity University (SU) officially launched its Singapore chapter this week.

Silicon Valley-based SU is described as a community of thinkers and innovators that apply “exponential technologies to address humanity’s grand challenges.” It’s a lofty mission statement.

One of the areas of focus will be better ways to deliver healthcare tools and services to people in Asia, says Lee Chon Cheng, a member of the Singapore chapter’s leadership team. That’s why SU Singapore collaborated with global medical technology company BD for this challenge.

The global outlook is key to SU’s mission to solve world problems.

Read the rest of the story here.

As banks and financial technology startups collaborate more closely, banks are beginning to pull apart the image of their institutions as segmented bureaucratic machines that can’t innovate quickly.

With public confidence in them in the U.S. below 50 percent across the political spectrum, banks have a branding problem — one that gets even more problematic when they have to…

Original content by ecommerceIQ

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China

Why Foreign Firms Struggle to Break Into China

In 2017, an analysis by Goldman Sachs found that while S&P 500 companies earned 30 percent of their revenues outside of the United States, China accounted for only 1 percent of their revenues.

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For growth-starved Western entrepreneurs, the Chinese market is appealing. Think about it: Since 1995, China’s economy has grown by a factor of 18.5, from US$735 billion to US$13.6 trillion (excluding Hong Kong).

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China

How China is using tourists to realise its geopolitical goals

Over the last two decades, the number of Chinese overseas travellers rose by over 25 times from 5.3 million in 1997 to 130 million in 2017, contributing an estimated US$250 billion to overseas economies

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Decades of astonishing economic growth have given China new tools for extending its influence abroad and achieving its political goals. Some of these tools are inducements, including Belt and Road Initiative projects and new development financial institutions.

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Banking

How China’s role in global finance has changed radically

Within the space of just 15 years, China has gone from being the largest net lender to the world to now being a net borrower. The implications for the global economy, and China’s role within that economy, could be significant.

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‘If you owe the bank $1 million, you have a problem. But if you owe the bank $1 trillion, then the bank has a problem’. It’s an old gag, but it underscores an important point: the size of your borrowing or lending can have profound implications for your role in the world.

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