Asia news roundup: Alibaba goes rural, Nanjing hits brakes on ride-sharing, and more

Alibaba founder Jack Ma / Photo credit: Alibaba

Here’s a wrap of the day’s news.

Ecommerce

Alibaba to invest over US$700 million in Huitongda Network (China). Alibaba will reportedly invest US$717 million in the homegrown ecommerce startup, which operates in 18 provinces and serves more than 15,000 towns in rural China. Other ecommerce firms in the country have been trying to tap into the rural markets, including Alibaba’s rival JD, which has been working on drone technologies to deliver goods to remote locations. (China Money Network)

Flipkart’s top executives slated to stay if Walmart deal goes through (India). The US retail giant is reportedly going to retain Flipkart’s management team, including its CEO, in the event that its buyout offer for the Indian firm is accepted. Flipkart has also been in talks with Amazon about selling a stake of over 50 percent in its business. (DealStreetAsia)

Fintech

DC Frontiers partners Chongqing’s SocialCredits (Singapore). Local fintech startup DC – which owns Handshake, a platform that specialises in gathering corporate intelligence – has teamed up with the Chinese tech firm. Together, they launched a business information portal, aimed at helping companies in both countries carry out due diligence. (The Straits Times)

Transportation

Photo credit: Didi

Nanjing imposes halt on ride-hailing cars (China). Local authorities in the city have placed temporary controls on the number of vehicles that can be hailed online. Under the measures, the transport ministry’s local branch will stop issuing new licenses, and the traffic department will suspend registration of ride-hailing drivers. The rules were been put in place to regulate the ride-hailing industry even as Didi and Meituan-Dianping are embroiled in a private car-hire turf war in the city. (Technode)

Software

Tencent launches Google Docs rival (China). The Chinese internet company has unveiled a Google Docs-equivalent that allows team members to perform collaborative tasks, such as quick translation or editing, on one platform. The web-based product is compatible with Tencent’s existing platforms which also allow document sharing, such as QQ and WeChat. (China Money Network)

 

See: Previous Asia tech news roundups

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from Tech in Asia https://www.techinasia.com/apac-news-19-04-2018
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