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China Business News Monday (2021-02-22)


1. Xiaomi announced that they will enter the automotive industry.

This is not a big surprise as Xiaomi has been investing in the automotive sector for a long time.

They are already invested in card maker Careland and EV car makers NIO and Xiaopeng. Xiaomi is in a line of technology companies such as Alibaba, Baidu, Apple, and Huawei that want to establish themselves in the automotive sector. The basic assumption is that nowadays, all relevant innovation comes from the software and not from the mechanical system.


2. Autonomous driving subsidiary of Great Wall Motor Series A (RMB 300 M.).

Great Wall Motor-owned autonomous driving company announced that it recently closed a preA financing round of 300 million yuan to increase its headcount and R & D investment. Investees included Shougang, Meituan, Hillhead Capital, etc. The company originated from the intelligent driving department of Great Wall Motor Technology Center. The IPO is planned for 2023.


3. The Market Inspectorate talks to food delivery giants Meituan and

The Market Inspectorate has spoken several times with all major delivery service platforms to improve the food safety monitoring system for online delivery services. The aim is to ensure the homogeneity of online delivery and offline food in terms of quality and legal standards. For this purpose, the third-party platform of online catering services should check the food business license of online catering service providers.


4. Tencent continues to invest heavily in gaming.

Tencent has acquired a minority stake in Aside developer UltiZero Games. Concrete information

about the deal size were not published. Tencent, which comes primarily from mobile gaming,

has stepped up its M&A activities in the HD console gaming space, acquiring both minority

and majority stakes in console game developers in China and overseas


5. Chery Automobile implements the lifetime warranty of the engine.

ChengLa Education has received 66 million yuan from UFIDA Group, National Education, Beijing Education Fund, and other investors. It mainly provides online learning and related vocational education services for adults over 20 years old and comprehensively improves the vocational education delivery system from entrance examination to practical English. Up to now, they have 2 million registered users, more than 200000 paid users.


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