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The Aqumon app, which has been downloaded 100,000 times, offers access to low-cost ETF portfolios.

Lufax’s initial public offering would become one of the biggest by a Chinese company in the US this year.

Since its launch in September 2019, the customer base has jumped to 25,000 employees, processing salaries of up to USD 1 million per month.

The move would also help improve the acceptance of digital payments across the country.

The move comes months after Alibaba announced a USD 1.5 billion investment plan to strengthen the AI and Internet-of-Things (AIoT) ecosystem around its smart speaker Tmall Genie.

Measure would open door to retaliation for Washington’s targeting of TikTok and WeChat.

Huawei’s annual sales growth was taking a hit, dropping significantly from 24.4% to 9.9%, according to its earnings report released on Friday.

The acquisition will give NCS clients access to a range of digital services from design thinking, rapid prototyping, cloud-native application development, among other digital solutions.