China

Pinduoduo predicts annual gross merchandise volume on its platform from agriculture to exceed RMB 1 trillion (USD 146 billion) in annual GMV in five years.

Its valuation also increased to USD 250 billion.

Perfect Diary plans for a US IPO before the end of this year, with Goldman Sachs and Morgan Stanley as underwriters.

The company just bagged USD 30 million in a pre-Series B round led by Future Capital and Shunwei Capital.

The company moved fast to meet explosive growth in the demand for cloud-based video services the education and corporate training sectors during the COVID-19 pandemic.

Evergrande Auto in August unveiled its first ever six new energy vehicle models under the Hengchi brand, but hasn’t yet started to produce them at scale.

The new RMB fund will manage over 20 billion yuan.

The Chinese internet giant showed off a series of next-gen products at the Apsara Conference in Hangzhou.