Tech China Post #96

Two Chinese corporate venture firms are among the most active corporate ventures in 2018. Baidu Ventures and Legend Capital are ranked behind only Google Ventures, Intel Capital, and Salesforce Ventures in terms of the number and size of investments. In artificial intelligence, Baidu Ventures is one of the most active. (link)

The Supreme People’s Court of China has announced that Internet Courts in China would take data recorded on the blockchain as potential evidence. The rule outlines that the data recorded on the blockchain should have verified digital signatures, hash of the digitalized information, and trusted time stamps. Given the rise of lawsuits related to e-commerce and general prevalence of fraud, blockchain-enabled solution to record and verify digital data could be an effective method of maintaining a system of records and evidence for the judicial process. (link)

The Ministry of Education has issued rule regarding the use of WeChat in the education system. The Ministry of Education will forbid teachers from assigning homework via WeChat, QQ and learning apps. (link)

State-Owned Assets Supervision and Administration Commission (SASAC) is encouraging additional foreign investments in state-owned enterprises (SOE) to accelerate SOE reforms and increase competitiveness. SASAC already allows foreign investors to own 51% of domestic broker dealers and life insurance companies. The ownership cap will be lifted by 2021. (link)