Tech China Post #57

January venture capital investment reached near $2.5B, almost doubling the funding level of January 2017. E-commerce, life sciences & digital health, and automotive are dominating themes.

Chinese government released data on internet usage — there are approximately 772 million internet users, accounting for approximately 56% of Chinese having access to the web. (link in Chinese)

China is the main destination for world’s cobalt. It is creating a Responsible Cobalt Initiative to improve transparency of the supply chain of cobalt from sourcing to delivery. Cobalt is mainly produced in Congo, and the mines in the country have been accused of child labor and human rights abuses. The Initiative alongside other organizations such as the World Economic Forum is reviewing blockchain as the technology to track Congo’s cobalt production. (link)

Alibaba’s revenue increased 56% despite speculation of a market slowdown. Revenue in 4Q 2017 surpassed $13B. Alibaba is increasingly eyeing the “full stack” opportunity to become the destination of choice of all critical digital services to consumers. The e-commerce giant will buy 33% of its affiliate payment company Ant Financials. (link)

AstraZeneca is looking to further penetrate the Chinese market, which is now the second largest drug market behind the United States. Ali Health and AstraZeneca will join forces to develop solution to identify counterfeit drugs, a major problem in China. (link)