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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

Will Myanmar’s coup help China influence ASEAN?

The Myanmar crisis is becoming increasingly tragic, with the military’s use of lethal force now killing over 60 protestors.

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On 16 January 2021, Chinese Foreign Minister Wang Yi concluded a visit to four ASEAN countries. One destination was Myanmar, the upcoming country coordinator of the ASEAN–China dialogue and now centre of international attention after the country’s military seized power.

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China

Rapid growth in China post-COVID makes it ripe for investment

Being “first in and first out” of COVID-19, China is the only country among the G20 that is thought by the Organisation for Economic Co-operation and Development (OECD) to have increased GDP in 2020.

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China’s economy rebounded sharply.

In January 2020 as the world began to learn of COVID-19, many market observers predicted a challenging year for Asia. While there continue to be headwinds from the health and economic crisis, Asia, and China in particular, has demonstrated comparatively advantageous resilience.

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China

Mainland China is in no position to take Taiwan by force

Unlike his predecessors, Chinese President Xi Jinping has demonstrated greater intensity in the desire for reunification.

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The situation across the Taiwan Strait has seemed to be on the brink of crisis since 2018. Beijing has sent numerous sorties of military aircraft to conduct exercises near Taiwan and frequently crossed the median line of the Taiwan Strait.

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