Meanwhile in China: Weekly News Roundup [11/6-11/10]

  • Tencent is the latest tech company working on autonomous cars

Tencent is pushing beyond its WeChat messaging app and gaming, moving into the autonomous driving space. The Chinese conglomerate will tap its artificial intelligence and mapping initiatives to compete against the likes of Baidu, according to Bloomberg‘s sources. Back in 2015, Tencent announced it’d partner with electronics maker Foxconn (responsible for the iPhone and countless other gadgets in your house) to make smart vehicles. That happened in the same 24 hours that Baidu announced similar motives.

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Source: Engadget


  • U.S. Companies Signed a Ton of Deals During Trump’s China Trip

    The Commerce Department has revealed the list of the 37 major deals signed between U.S. and Chinese companies around President Donald Trump’s trip through Asia.

    The dollar value of those deals is in excess of $250 billion. Catepillar, Boeing, and Goldman Sachs are just some of the notable names on the list of companies that made deals with China, the full list of which is below.

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Source: Fortune



  • China’s cloud computing market projected to reach 686.6 b yuan by 2020

By 2020, the aggregate market size of the country’s cloud computing industry is expected to hit 686.6 billion yuan (about $103.6 billion), according to the Report of Prospects and Investment Strategy Planning on China Cloud Computing Industry (2017-2022) published by Forward Intelligence Co Ltd, a special market research institute.

The country’s cloud computing industry has experienced robust growth since 2010 and its market size reached 178.2 billion yuan in 2016, up 18.8 percent year-on-year, said the report.

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Source: China Daily


  • Qualcomm signs deals worth $12b

Chip giant reaches agreements with three Chinese smartphone vendors. Qualcomm Inc on Thursday signed non-binding deals worth about $12 billion with three of China’s largest smartphone vendors as the United States chip giant beefed up efforts to strengthen ties with Chinese players amid ongoing patent disputes with Apple Inc. Under the memorandums of understanding, Xiaomi Corp, Oppo Electronics Corp and Vivo Mobile Communication Technology said they plan to buy smartphone components, mostly chips, worth at least $12 billion from Qualcomm over the next three years.

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Source: China Daily