China has not announced an official launch date for its Central Bank Digital Currency, although its development is “basically completed” The Digital Currency Research Institute of the People’s Bank of China (PBOC), China’s Central Bank, has entered into a strategic partnership with DiDi Chuxing, the dominant ride-hailing giant in China, to jointly study and explore

Kuaidian features user-generated content with protected intellectual property Chinese interactive entertainment platform Kuaidian Yuedu has raised almost US$100 million in its Series C round of financing, according to a statement. Led by Sequoia Capital China Fund, the funding round saw participation from venture investment firms GGV Jiyuan Capital and Morningside Capital, in addition to other

Ucommune, which had filed for IPO last year but did not get listed, will become a publicly-traded company upon completion of this merger U.S.-based Orisun Acquisition Corp., a company specially formed for merger and acquisition purposes, will merge with Ucommune Group Holdings Limited, a leading co-working space manager and provider in China, Orisun announced in

A detailed timeline of how one of China’s brightest startups, Luckin Coffee, became scandal-plagued and got delisted from Nasdaq Chinese Starbucks rival Luckin Coffee has been steeped in controversy ever since its elaborate forgery and financial sham came into the limelight on January 31 following the publication of an 89-page anonymous report alleging fraud. Luckin’s

21Vianet to use latest funds to reinforce its position in China’s data center market 21Vianet Group, Inc., a carrier and cloud-neutral Internet data center services provider in China, today announced that funds managed by Blackstone, one of the world’s leading investment firms, have agreed to make a US$150 million investment in the company. Although the