Tech China Post #75
Beijing Government has established a $4.6B fund called the Beijing Science & Technology Innovation Fund. The fund is a fund-of-funds with an objective to invest in no more than 100 funds globally to fund core technology innovations. (link)
China has issued the first blockchain-based tax invoice. The “tax chain” prevents data modifications, tampering, and enables digitalization of tax receipts which are largely still paper-based in China today. (link)
8 out of the 20 top internet firms are Chinese in 2018. Together, they generate $1.4 trillion market capitalization. (link)
Baidu has signed a new partnership to produce 10 autonomous buses for Softbank’s subsidiary SBDrive. The fully autonomous bus, called Apolong, can sit 14 people. The buses are built on the autonomous operating system that Baidu developed in partnership with Ford, Honda, and other companies. (link)
Airbus and China’s nanoscience research institutions are establishing a jointly funded lab to explore applications of nanoscience in the aeronautic industry. Specifically, they will conduct research on electrically conductive, self-healing and toughening nanocomposites. (link)
Alibaba continues to expand in the emerging markets. After recent investment in Thailand and Vietnam e-commerce companies, Alibaba is investing in Turkey-based Trendylo, well-known online fashion retailer. (link)
The Seven Stars Cloud Group, a China-based software technology company, has agreed to buy the former University of Connecticut campus in West Hartford, Connecticut. The 58-acre site is reportedly purchased for a little over $5m. (link)
