China

Guangdong Lingcun Integrated Circuit secures $30 million in funding to establish China’s first fully automated flash memory chip testing production line.

The Chinese tech giant’s January-March revenue misses analyst bets with a 2% growth.

Data from the WorldFirst platform revealed that the number of export markets for Chinese SMEs doubled year-on-year in Q1 2023, with some exporters selling to as many as 42 overseas markets.

Alipay+ e-wallets can now be used to pay at 11,000 stalls in Singapore’s hawker centres, coffee shops, wet markets, and canteens.

The move comes as the Chinese tech giant divides into six units in a historic overhaul.

Shein is facing challenges from tariffs, competition, declining revenue growth and user data, and a stricter quality control mechanism for suppliers.

ByteDance, the parent company of TikTok, is set to report profits of USD 25 billion this year, an increase of almost 80%.

Xiaomi’s ambitious vow to establish itself as a high-end international brand led to its success in 2019, but it is also leading to its downfall in 2023.