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Amid a record-setting bitcoin price surge, a Shanghai court has released an opinion stating that the personal ownership of cryptocurrencies is not against Chinese law. Photo: Reuters

Recap | Shanghai court says crypto ownership legal, Hong Kong food-delivery drones: 5 tech stories

Explore China’s tech landscape, from crypto ownership to AI-driven stock investments, in our latest stories from the world of technological innovation.

Meituan aims to launch meal deliveries by drones in Hong Kong

Meituan-owned Keeta, video game AFK Journey among Google’s ‘Best of 2024’ apps

The fight for AI talent heats up in China

The scarcity of AI talent has set off a recruitment battle, with companies offering above-average pay to woo the right candidate.

Demand for AI talent continues to surge in China. Photo: AFP

Urgency of AI development at Meituan underscored as co-founder returns

After selling his AI start-up Light Year to Meituan last year, Wang has reportedly returned to lead the company’s AI efforts.

Chinese unicorn Zhipu AI raises US$210 million to invest in start-ups

The Z Fund says it aims to take advantage of its parent’s leading position in China’s AI sector to discover promising early-stage start-ups.

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Chinese AI unicorn Zhipu adds Beijing, Shenzhen government funds as shareholders

The latest funding reflects how Chinese AI-related enterprises continue to attract new investment, despite US tech restrictions.

Major investors in Zhipu AI include Alibaba Group Holding, Tencent Holdings, Meituan, GL Ventures and Legend Capital. Photo: Handout

China’s Zhipu AI says its app can operate your smartphone for you

AutoGLM can order coffee, send messages and complete other tasks on smartphones based on voice prompts, according to the Chinese start-up.

Chinese tech giants from ByteDance to Meituan see rise in ‘golden week’ spending

Major online platforms for dining and travel-booking services recorded increased expenditure by mainland consumers during the annual holiday.

Meituan co-founder cashes out US$44.3 million amid Chinese stock rally

Mu Rongjun, an executive director of the on-demand delivery firm, sold the shares after a 240 per cent price rally since a February low.

On-demand delivery giant Meituan is seen as potentially one of the biggest beneficiaries of a rebound in Chinese consumer spending. Photo: Shutterstock

Alibaba waives delivery fees for Hong Kong’s Taobao users in US$142 million plan

Delivery charges on the city’s Taobao users will be waived for certain orders that cost more than US$14 during this fourth quarter.

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Alibaba Group Holding’s latest promotion for Taobao users in Hong Kong reflects the company’s efforts to boost services outside its home market. Photo: Shutterstock

Meituan riders earn more than the average Beijinger, data shows

A new report by the company portrays gig employment as an alternative for people in between full-time jobs.

Meituan’s delivery workers earn US$11 billion in 2023, CEO says

CEO Wang Xing’s internal announcement reflects Meituan’s efforts to address mainland policymakers’ concerns over the welfare of gig workers.

China’s Meituan plants flag in Saudi Arabia after Hong Kong debut

The Beijing-based company has introduced its food ordering app Keeta in Al-Kharj, ahead of an expected launch in the capital, Riyadh.

Food delivery couriers for Meituan in Shanghai, China. Photo: Bloomberg

Chinese unicorn Zhipu AI raises new funding from state-backed investor

State-backed investment vehicle Zhongguancun Science City Innovation Development estimates Zhipu AI’s value at around US$2.8 billion.

A crowd gathers at Zhipu AI’s exhibition space during the World Artificial Intelligence Conference in Shanghai. Photo: Zhipu AI

Pinduoduo updates rules to kick out sellers of shoddy products

A PDD executive said in a recent post-earnings call that the company is willing to sacrifice short-term profits for long-term health.

My Take | Beijing’s ‘anti-involution’ stance looks to tame e-commerce sector, price wars

Major online retail platforms are expected to make changes on algorithms, policies and charges that have fanned excessive competition.

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Meituan reports strong second quarter growth on popularity of discounted meals

China’s largest on-demand service provider Meituan reported a 21 per cent jump in second-quarter revenue, bolstered by growth in its core local commerce operations.

A food delivery courier for Meituan waits on the side of the road in Beijing, September 1, 2023. Photo: Simon Song

Meituan enables 30-minute delivery of home appliances with Midea

The food delivery giant is tapping into China’s growing on-demand e-commerce market by offering a wider variety of products.

ByteDance cracks down on corruption and bribery cases in first half of 2024

About 88 ByteDance employees were sacked, while 17 others were taken into custody by public security authorities for the reported offences.

China’s leading apps, including WeChat and Taobao, test proposed cyber ID system

More than 50 apps recently started accepting virtual IDs created under this proposed authentication system for user account registration and login.

Legal experts have expressed concerns over the proposed regulation’s implications on mainland app users’ privacy and government oversight. Photo: Shutterstock

Alipay drives evolution of contactless payments in China with new tap-and-pay service

Alipay expects its Tap! service, which is being rolled out in major cities across mainland China, to ‘expedite in-store mobile payments’.

Alipay’s new Tap! service marks its latest effort to shape the evolution of contactless payments in mainland China. Photo: Shutterstock

Alibaba’s Taobao adds 1-hour delivery short cut in race against ByteDance, JD.com

With on-demand delivery the latest front in China’s e-commerce war, Taobao is using Alibaba’s Ele.me and Freshippo to expand its offerings in the category.

China’s venture capital ‘godfather’ Neil Shen exits Meituan board

Shen’s departure comes after venture capital firm HongShan had been gradually cutting its stake in Meituan since China’s food delivery services giant debuted in Hong Kong in 2018.

Alibaba, Xiaohongshu boost sales in midyear shopping festival

Alibaba’s midyear shopping promotion has it going head-to-head with younger e-commerce competitors such as Xiaohongshu, China’s answer to Instagram.

Alibaba has reported “encouraging” sales during the ongoing 618 shopping festival. Photo: CFOTO/Future Publishing via Getty Images

Shanghai’s former ‘rust belt’ eyes small tech firms to complete digital economy

Shanghai’s northeastern Yangpu district , which has already attracted Big Tech firms such as Meituan and Bilibili, has set its sights on smaller technology businesses to form an ecosystem for its growing digital economy.

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Once viewed as a ‘rust belt’ with industries like shipbuilding, textiles and power generation at its heart, Yangpu has evolved into an area driven by technology businesses. Photo: Shutterstock

Food delivery giant Meituan’s quarterly revenue rises 25%, beating estimates

Meituan co-founder and chief executive Wang Xing said the company is looking to expand into more international markets, including in Southeast Asia.

China’s Zhipu commits to AI safety in Seoul with 15 others

Along with Meta, OpenAI and Samsung, the companies committed to publishing safety frameworks for measuring risks.

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Meituan
Meituan is the largest on-demand delivery-service provider in China by revenue. Its Meituan app is most commonly known for food delivery, but also provides shopping, film tickets, hotel and travel bookings, restaurant reviews, group discounts and bicycle rentals. As of 2022, the company had 6.24 million delivery riders and over 9.3 million merchants.
Chairman / President
Wang Xing
CEO / Managing Director
Wang Xing
CFO / Finance Director
Chen Shaohui
Industry
E-commerce
Website
meituan.com
Headquarters address
No. 4 Wangjing East Road, Chaoyang District, Beijing, China
Stock Code
SEHK:3690
Year founded
2010
last updated:
30 September, 2024
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