China is making an investment statement as it attempts to take control of its financial future and set new yen-centric standards for international monetary exchange. Much is being read into Didi Chuxing delisting itself Friday from the New York Stock Exchange, where it raised billions of dollars, capping at $39 billion for the Beijing version of Uber. The message is: with money of its own and a knack for finding more, the world’s No. 2 economy feels it no longer needs Wall Street and says it will relist on the Stock Exchange of Hong Kong. Continue reading Didi Exits NYSE for Hong Kong, China Tightens Tech Control

China has a five-year plan to dominate the semiconductor industry by building up the domestic industry while fending off U.S. blacklists. The details of the plan won’t be released for a long time, but clues have been dropped by government officials, think tanks and official publications. Over the next five years, China plans to make do with existing semiconductors while it focuses on third generation chipmaking, a nascent field that no one yet dominates, by creating local companies for relevant software and hardware. Continue reading China’s Five-Year Plan to Build Domestic Chip Manufacturing

SoftBank chief executive Masayoshi Son invested $164 million in startup Mapbox, which is used by Lyft drivers, Snap and Mastercard, and in the process revealed his plans for his nearly $100 billion Vision Fund. The Fund, which includes money from Saudi Arabia and others, is aimed at preparing for new paradigms in work, medicine and so on that will occur due to artificial intelligence. Son believes in Singularity, the idea that robots will change the work force and machines will become smarter than people. Continue reading SoftBank’s Masayoshi Son Reveals His Plan for Vision Fund

Apple will open its first data center in southwest China, in response to a new Chinese law that requires companies to store data within its borders. The data center, which will be operated in partnership with a local data management company, is part of a $1 billion investment Apple will make in the Guizhou province. Amazon, Facebook and Microsoft have built data centers in Germany, France and the Netherlands among other countries for technical reasons and in response to security concerns of governments and customers. Continue reading Apple to Open New Data Center in China With Local Partner

Apple chief executive Tim Cook is revealing the company’s plans in autonomous vehicles, which he states is a very important core technology. With this admission, Apple now joins numerous tech and auto companies that are pursuing a future in self-driving cars. Among those companies are BMW, GM, and Alphabet’s Waymo division, which has inked partnerships with Fiat Chrysler. Apple originally wanted to build its own car, but scaled back its plans to focus on the technology powering autonomous vehicles. Continue reading Tim Cook Reveals Details of Apple’s Autonomous Car Plans

After two years of spending big to succeed in China, Uber has thrown in the towel and made a deal with rival Didi Chuxing. As a result, for a 20 percent stake, Uber China will become part of the larger Chinese company, which is valued at $35 billion. Prior to the deal, Didi was valued at $28 billion. Uber purportedly spent more than $2 billion in China. Meanwhile, Uber is using some of the $13.5 billion raised recently from investors to double-down on its global mapping project, with a $500 million investment. Continue reading Uber Inks Deal with Chinese Rival Didi, Focuses on Mapping