China has banned ICOs

 It is looking like a new era is coming for ICOs, at least those in China for now. In the U.S., the SEC has issued official warnings around the risks of ICOs, also known as token sales, but the Chinese government looks set to beat it to implementing regulation around the rapidly growing fundraising option. A notice from a committee led by China’s central bank [link in Chinese] today… Read More

Two ex-Googlers are using AI to guarantee interviews for tech job seekers

 Two former Googlers are guaranteeing workers in the tech industry that they get interviews with their dreamer employers thanks to artificial intelligence. The past year or so has seen AI deployed to tackle a broad range of issues, and with their startup Leap.ai, ex-Google engineers Richard Liu and Yunkai Zhou believe it can be used to crack the hiring conundrum in tech. As things stand now… Read More

Baidu confirms sale of its food delivery business to rival Ele.me

 The online food ordering-and-delivery market, once very hot, appears to be cooling down a little in China. Today Baidu, the country’s search giant, announced an exit from the business: Baidu has sold its Xiaodu food delivery subsidiary (which operates under the Waimai brand) to Rajax, which operates Ele.me, China’s leading food delivery business that is valued at around $6 billion… Read More

Alibaba, Tencent, Didi and other tech firms pour $12B into mobile operator China Unicom

 China is about to take net neutrality to the next level after a group of influential tech companies that includes Baidu, Alibaba, Tencent, Didi Chuxing and JD.com agreed to invest nearly $12 billion into state-run mobile operator China Unicom. China Unicom is the country’s second largest operator with 269 million mobile customers, which makes it one of the largest in the world. The… Read More

Beijing’s public transport system gets an app for paying fares — but Apple isn’t invited

 Apple continues to be locked out of China’s massive mobile payments space. The latest reminder came this week when Beijing’s transportation system opened up to smartphone payments… via an Android app. Already Tencent’s WeChat Pay and Alibaba’s Alipay services dominate China’s mobile payment space, which is estimated to have processed $3 trillion last year,… Read More