Tag: china

Top 10 Gaming Startups in China leading the Gaming Industry

Over the years, China’s Gaming Industry has grown exponentially and now houses a few of the best gaming companies in the world. The country gaming industry generated over $32 billion total revenue only in 2020, while E-sports earned more than $20.8 billion. When it comes to PC games, the Chinese gaming companies earn over $8.5 billion.

China also has the best e-sports players in the world and is among the top in the most significant game development market in the world. China is known to have over 665 million players who also spend more than 278 billion yuan on video games. Because of numerous strict regulations imposed by the Chinese Government, many Chinese gaming companies now want to focus on moving overseas markets.

China is called the gaming capital of the world as its gaming companies have provided innovative solutions at a high cost to value ratio. China currently has over 778 gaming startups in the country in 2021. The Chinese gaming companies are known to have a skilled workforce that aims in delivering quality, unique and engaging content.

These are the top ten gaming startups in China. The Chinese online game streaming industry is expected to grow to a height of a CAGR of 9% from 2021 to 2026, which means China has the potential to dominate the market with its gaming startups.

Tencent Games
NetEase Games
Huya Inc
Hero Entertainment
Giant Interactive Group
Cushou TV
Panda TV
Zeus Interactive
Chukong Technologies
Madhead App
Frequently Asked Questions

The Top Ten Gaming Startups in China are

Tencent Games

Company	Tencent
Founded year	1998
Headquarters	Shenzhen (China)
Funding	$12.6 Billion
Investors	Lippo Group, Prosus & Naspers, PCCW, IDG Capital

Tencent Logo

Tencent Holdings is one of the top gaming companies that was founded in 1998, with its headquarters based in Shenzhen, China. Besides gaming, Tencent also has its foothold in the sectors of entertainment, AI, advanced technology, and other internet-related services and products. Tencent Games has the largest online gaming community in China, it also is the largest digital entertainment platform in the world.

The company reportedly generated over $14.86 billion total revenue in 2019 revenue, making it the world’s largest games publisher the same year. Its most well-known games are PUBG Mobile and Honor of Kings. Both PUBG Mobile and Honor of Kings are globally renowned free-to-play multiplayer action games.

NetEase Games

Company	NetEase
Founded Year	1997
Headquarters	Hangzhou (China)
Funding	–
Investors	SoftBank Group

NetEase Logo

NetEase is another top IT company in China that operates and develops online PC and mobile games. The company was founded by William Ding in 1997 with headquarters based in Hangzhou, China. NetEase is now a global gaming company as it has collaborated with Blizzard Entertainment, Mojang AB and other leading global game developers.

Besides gaming, the company has also ventured into the industries of advertising, email and e-commerce services in China. The top games the NetEase has developed are Westward Journey, Tianxia III, Nostos, Onmyoji, among others.

Besides that, the company has also operated the Chinese versions of Blizzard Entertainment games like World of Warcraft, Overwatch, etc. NetEase is now ranked second place among the top mobile gaming companies in terms of its global revenue and has high ratings on both Apple and Google app stores.

Huya Inc

Company	Huya Inc
Founded year	2016
Headquarters	Guangzhou (China)
Funding	$1.1 billion
Investors	Tencent, Ping An, Engage Capital, David Li, 5Y Capital, Rongjie Dong and Gaorong Capital

Huya Logo

Huya is a live game broadcasting platform that was founded in 2014 with its headquarters based in Guangzhou, China. The company provides a broadcasting software platform that allows its users to stream and take videos while playing the game.

It helps connects broadcasters to their audience and is also the provider for a wide variety of media ranging from talent shows, cooking, sports, animes, online movies, etc. Huya is also the official broadcaster of top e-sports competitions.

Hero Entertainment

Company	Hero Entertainment
Founded year	2015
Headquarters	Beijing (China)
Funding	$539 million
Investors	Huayi Brothers Media Group, Prometheus Capital, ZhenFund, etc

Hero entertainment also known as Yxgyu.com is a mobile game developer that was founded in 2015. The company has its headquarters based in Beijing, China. Hero entertainment is the developer of the Battlefield series, which is a MMA fight show. Besides game development that company is also into combat sports and mixed martial arts promotions in their country.

Giant Interactive Group

Company	Giant Interactive Group
Founded year	2004
Headquarters	Shanghai (China)
Funding	$44.3 million
Investors	SIG China

Giant Interactive Group Logo

Giant Interactive Group is one of the best Chinese online game developers and operators of many well-known multiplayer online games. The company was founded in 2004 and has its headquarters based in Shanghai, China. Giant Interactive Group is currently one of the leading online game developers and operators in terms of revenue.

Their game ZT online is the most popular game in China in 2006, after the success of that game the company came up with Road Bin and Street Basket for android and iOS. Besides that, it has also come up with Jianghu and Xian Xia World both of which are MMORPG games. The company was also named“2016 Top Ten Most Anticipated Versatile Game Honor” by Road Crate.

Cushou TV

Company	Cushou TV
Founded year	2011
Headquarters	Hangzhou (China)
Funding	$117 million
Investors	Google, GGV Capital, Shunwei Capital, AlphaX Partners, iQiyi

Cushou TV is another leading mobile video live streaming platform with its headquarters in Hangzhou, China. Besides being an eSports video streaming platform, the company has also developed popular games like Counter-Strike and League of Legends that are well known around the world.

The company is now planning to improve its user network and expand its live video host’s network. Cushou TV has is well known for its live video-streaming platform that provides interaction sites and games, which enables E- gamers to stream their mobile phone game activities live.

Panda TV

Company	Panda TV
Founded year	2015
Headquarters	Shanghai (China)
Funding	$145 million
Investors	Zhen Fund, Chen Hai Capital, Hanfor, Lighthouse Capital

Panda Tv Logo

Panda TV is a Shanghai-based E-sports live streaming platform that specializes in broadcasting e-sports events live. The company allows its users to stream live e-sports games, events, it also streams video and news content related to esports.

It main competitors are Douyu TV and Twitch. However, in 2019, Panda TV announced that it will end its services because it had failed to raise funds in order to keep the operations going.

Zeus Interactive

Company	Zeus Interactive
Founded year	2011
Headquarters	Beijing (China)
Funding	$132 million
Investors	Beijing Enlight Media, Legend Capital, Legend Star, etc

Zeus Interactive Logo

Zeus Interactive is a leading game and web developer with headquarters based in Beijing, China. The company was started in 2011 and focuses on developing online mobile games.

Zeus Interactive so far has over 15 plus games and specializes in role-playing games for both mobile and PC. The company has raised more than $132 million in funding. Currently Zeus Interactive is planning to turn its games into live-action movies.

Chukong Technologies

Company	Chukong Technologies
Founded year	2011
Headquarters	Beijing (China)
Funding	$123 million
Investors	Qualcomm Ventures, GGV Capital, Steamboat Ventures, New Horizon Capital, Creaturk, Sequoia Capital China

Chukong Technologies Logo

Chukong Technologies is a well-known mobile entertainment platform with its headquarters based in Beijing, China. Besides developing mobile games, the company also has its foothold in publishing and game engine development.

The company has more than 60 published titles and its most successful game has been Fishing Joy which was launched in 2011, this game gained over 12 million downloads within a year of its launch.

Madhead App

Company	Madheads
Founded year	2013
Headquarters	Hong Kong (China)
Funding	$70 million
Investors	Forgame

Madhead App is a popular game developer with its headquarters based in Hong Kong. The company is known for its Role-playing games, its most well-known games are Tower of Saviors in need and Chronos Entryway. Their games like Tower of Saviors had over 19,00,000 downloads as of 2016.

The company’s games are popular in Taiwan, Hong Kong, Malaysia and other South Asian countries. It game Tower of Saviors so far has over global downloads of over 23 million. Madheads is known for providing the best user experience for all mobile gamers.

Frequently Asked Questions

What are the top gaming startups in China?

The top gaming startups in China are Hero Entertainment, Huya Inc, Madhead App, Chukong Technologies, Zeus Interactive, Cushou TV, Panda TV, Giant Interactive Group, Tencent and Netease.

How many gaming startups are in China?

China currently has over 778 gaming startups in the country in 2021.

How much revenue does China generate from Gaming companies?

The country’s gaming industry generated over $32 billion total revenue only in 2020, while E-sports earned more than $20.8 billion.

September 18, 2021

Top 8 Leading Fintech Startups in China

Fintech is one of the leading industries in the world because of many emerging unicorns in the sector. The fintech industry has become a game-changer for banking services industries as it has been tremendously impacted by Technology enterprises. Most Fintech startups offer financial services such as mobile payment, digital banking, insurance, crowdfunding, wealth management, or recently even digital currencies like cryptocurrency.

Fintech companies nowadays have to rely on advanced technology like datasets, Internet of Things (IoT) artificial intelligence (AI), cloud computing, or even blockchain in order to provide their services. Fintech currently has over 79 Unicorns globally making it the largest sector with the most number of Unicorns, while there are more upcoming fintech startups that will be added to the list.

The global Fintech market was said to be valued at $111 billion, while it is now expected to grow to more than $158 billion by 2023. China is often considered one of the leading countries in the sector of financial technology. The country so far has over 2,160 Fintech startups out of which over 18 are already unicorns. According to some studies over half of the world’s digital payments were made in the country using apps like Alipay and WeChat in 2017.

In 2018, China received over $25.5 billion investments into its fintech industry making it the leader in this sector. Even to this date china continues to be the leader in the industry because it completed over 600 plus deals in 2018 alone, the country also has the highest fintech adoption rate of 69% in the world.

China went through a Fintech boom because many startups wanted to fill the gap of traditional banking which lacked in the country by introducing fintech services that fulfilled the needs of ordinary people and SMEs. Because of the growth of the fraudulent practices in the Chinese sector in China, the Government has come up with rules and regulations including 65 national financial standards and 252 financial industry standards to control them.

The fintech startups in China are targeting the middle class in the sectors of wealth management, different types of insurance and private banking as the services like mobile payment is already popular in the country.

Tencent
Ant Financial
Lufax
Bitmain
Dianrong
Ping An
JD Digits (Formerly JD Finance)
Renrenxing Technology
Frequently Asked Questions

Here’s a list of top fintech startups in China.

Tencent

Company	Tencent
Founded year	1998
Headquarters	Shenzhen (China)
Funding	$12.6 Billion
Investors	Lippo Group, Prosus & Naspers, PCCW, IDG Capital

Tencent Logo

Tencent is considered to be one of the largest gaming companies in the world, but also has a foothold in the Fintech industry. Over the years the company has come up with top-notch payment services through WeChat, which was considered to be the first online-only bank offering wealth management and other financial services in China. Through WeChat Pay the company has made many strategic investments and third-party marketplaces, increasing its valuation to $21 billion in 2018.

The company was initially founded by Ma Huateng, Tony Zhang, Xu Chenye, Chen Yidan and Zeng Liqing in 1998, with its headquarters based in Shenzhen, China. The main competitor to Tencent in the fintech sector is Alipay which is under Alibaba. By the end of 2019, WeChat had is estimated 800 million users and 50 million merchants on the platform every month. This is why Tencent is one of the most financially valuable companies in the world.

Ant Financial

Company	Ant Financial
Founded year	2014
Headquarters	Hangzhou (China)
Funding	$22 Billion
Investors	General Atlantic, Meros Equity Global Management, Warburg Pincus, The Carayle Group, Credit Suisse, Temasek Holdings, Sequoia Capital, Khazanah Nasional, Silver Lake

Ant Financial Logo

Ant Financial is one of the top fintech startups in China that was founded in 2014 with its headquarters in Hangzhou, China. Ant Financial provides various digital payment services for both customers and businesses.

Ant Financial is known for its Alipay mobile wallets which offer financial services like transferring money to bank accounts, bill payments, online or offline mobile bill payments, among others. The brands under Ant Financial are Alipay, Ant Fortune, Yu’e Bao, Zhima Credit, MYbank and Ant Financial Cloud.

Alipay also allows SMEs to accept online payments from customers through cards, corporate credit solutions and Bank transfers. Ant Financial Group is a subsidiary of the Alibaba Group which is a Chinese eCommerce giant and is also said to be the world’s most valuable Unicorn Company.

As of 2018, the company has over 87 million users across the world along with JV partners, currently, it has over 1.2 billion users worldwide. Besides its mobile wallet services, Ant Financial is also a leading fundraising company in the country.

Lufax

Company	Lufax
Founded year	2011
Headquarters	Shanghai (China)
Funding	–
Investors	HarbourVest Partners

Lufax Logo

Lufax is a popular online wealth management and P2P lending platform for personal loans. The company provides insurance services to both individuals and institutions with advanced technology like AI and Cloud. Lufax was founded by 2011 in Shanghai, China and was originally set up by Ping An as an incubation project.

It currently is the second-largest P2P lender in the country and is planning to branch out its business gradually to work with funds and insurance companies. In 2018, the company also expanded its services to Singapore, the same year it also came out with a new blockchain solution that identifies users and tracks transactions, especially between borrowers and lenders. Lufax is said to be the best Internet financing industry in China as it has accelerated the marketing process.

Bitmain

Company	Bitmain
Founded year	2013
Headquarters	Beijing (China)
Funding	$764.7 million
Investors	Temasek Holdings, Crimson Ventures, Noris Capital, Newegg, Coatue, Sequoia Capital China, CAS Investment Management, Jumbo Sheen Group, HuangPu River Capital

Bitmain Logo

Bitcoin is a well-known Edtech startup that provides hardware-based mining solutions for Cryptocurrencies. The company was started by Micree Zhan, Jihan Wu in 2013 with its headquarters based in Beijing, China. Bitmain is known for providing hardware-based mining (ASIC) solutions for bitcoin mining. By 2018, the company became the largest designer of ASIC chips for bitcoin mining.

Besides ASIC chips the company also makes servers, simple routers, AI applications, mining tools and other services & products for blockchain. Bitmain also operates BTC.com and Antpool which became the biggest pool for bitcoin. Bitcoin introduced Bitmain Technology in 2013 that successfully engaged with the field of AI and increased power consumption speed.

Dianrong

Company	Dianrong
Founded year	2013
Headquarters	Shanghai (China)
Funding	$549 million
Investors	Simon Investment Managers, EG Capital Advisors, Affirma Capital, ORIX Asia Capital, CITIC Securities, China Minsheng Investment Group, GIC

Dianrong Logo

Dianrong is a leading peer to peer platform for personal loans. The company was founded in 2012 with its headquarters in Shanghai, China. Dianrong provides products and service offerings like credit ratings, investment products, marketplace lending solutions risk management and operation tools.

In 2018, the company created a supply chain finance solution designed especially for finance and business. The company provides a well planned and secure infrastructure for industry data and insights.

Ping An

Company	Ping An
Founded year	1988
Headquarters	Shenzhen (China)
Funding	$4.8 billion
Investors	–

Ping An Logo

Ping An Technology is the main subsidiary of Ping An Group a multinational conglomerate. The company is in charge of the financial sector that provides services like insurance, banking, investment, and numerous other internet businesses. The company went on to create Lufax and Oneconnect which are both well-known fintech companies in China.

The company was founded in 2008 and initially provided IT services to firms within the Ping An Insurance Group. Ping An also allows its customers to use its P2P lending services over AI technology. Ping An was the first insurance company to be selected on the index and is currently the World’s top global insurance brand in 2020.

JD Digits (Formerly JD Finance)

Company	JD Digits
Founded year	1998
Headquarters	Beijing (China)
Funding	CN¥ 34 billion
Investors	CICC, COFCO, APOFCO, Sequoia Capital China, China Creation Ventures, China Taiping Insurance, Intonation Ventures, Harvest Global Investments

JD Finance is one of the leading Chinese fintech companies that was started by the JD Group in 2013. JD Group is one of the biggest B2C online retailers in China. The company has its headquarters in Beijing, China and aims to become the most trustworthy internet investment and funding platform. The company provides its customers with services for investment and financial management, which are easy, high yielding and safe.

The company uses advanced technology big data, AI, cloud computing, blockchain and IoT for providing its financial services. JD Finance is estimated to be $20 billion as it raised over $1.9 billion in 2018. The company comprises 10 business divisions that cover different types of covering corporate and consumer finance needs.

Renrenxing Technology

Company	Renrenxing Technology
Founded year	2014
Headquarters	Beijing (China)
Funding	CN¥ 4.5 billion

Renrenxing Technology is another popular Chinese Edtech startup that is known for developing applications for borrowing and lending money. The company started Jiedaibao in 2015 which has its headquarters in Beijing, China. Jiedaibao is a leader in providing peer to peer services for lending and borrowing money, besides that it also offers services like matching, registration, collection and other services for small loans for customers and SMEs.

The company is now known to be the country’s top tech unicorn company as its valuation is estimated to be over $10 billion. Through Jiedaibao, Renrenxing Technology has come up with an app that helps in deciding interest rates independently and based on that it generates an electronic contract that is legal. This enables their customers to get personal loans at a fixed price and get reminded of the repayment or expiry of the contract.

Frequently Asked Questions

What are the top Fintech startups in China?

The top Fintech startups in China are Renrenxing Technology, JD Finance, Ping An, Dianrong, Bitmain, Lufax, Ant Financial and Tencent.

How many fintech startups does China have?

The country so far has over 2,160 Fintech startups out of which over 18 are already unicorns.

What is the valuation of the global fintech market?

The global Fintech market was said to be valued at $111 billion, while it is now expected to grow to more than $158 billion by 2023.

September 17, 2021

Top 9 Edtech Startups in China that are leading the Industry

One of the few industries that have grown tremendously during the Covid 19 Pandemic is the EdTech Industry. Many education institutes were shut down, while the universities/colleges had to move online due to the lockdowns and this is what gave rise to the already existing EdTech startups. The Global EdTech industry is estimated to reach over $7 trillion by 2025.

While the Grand View Research also put out a statistic that the global education technology market size is estimated to rise to an all-time high of $285.2 billion by 2027. The EdTech companies are now looked up as the global phenomenon as they are shaping the new generations. One of the countries that are seeing the fastest growth in investment into the EdTech industry is China, as it currently has the largest EdTech market.

China has more than 1,058 EdTech startups that cater to 400 million students in the country. The country’s Edtech industry reached RMB 453.8 billion in 2020, according to iiMedia’s Research. The statistical report on Internet Development in China that China has over 423 million online educational users in 2020 alone. The Edtech industry in China focuses on robotics, tutoring and creating innovative educational technologies that will help in integrating technology into the classrooms of the country’s educational institutes.

China’s Edtech startups have the potential to increase digital education in the country but the Chinese Government has recently imposed new laws making the Edtech companies go nonprofit. Besides going nonprofit the companies are also banned from going public or raising foreign capital, this could not only hinder the growth of the industry but also destroy its $100-billion Edtech market.

Yuanfudao
VIPKid
Zuoyebang
Hujiang
Huohua Siwei
Changing Edu
CodeMao
DaDaABC
17zuoye
Frequently Asked Questions

Here’s a list of EdTech startups in China

Yuanfudao

Company	Yuanfudao
Founded year	2012
Headquarters	Chaoyang (China)
Funding	$4.1 billion
Investors	YF Capital, Temasek Holdings, DCP Capital, Danhe Capital, Ocean Link, DST Global, CPE, GIC, Trustbridge Partners, Greenwoods Investment

Yuanfudao Logo

Yuanfudao started by Shuai Ke, Xin Li and Yong Li in 2012 is one of the top EdTech startups in China. The company also founded Yuantika in 2015, a platform that provides online question banks and other school-based test preparation. The platform is known for its live tutoring, virtual classes and providing apps that are helpful for completing homework, all of which are AI-enabled. Besides that Yuanfudao also connects students with their teachers and through their app’s live stream.

It provides exercises to improve testing efficiency designed specifically for China’s exams such as the National college entrance exam, post-grad exams, Civil service exams, schools & university level exams among many others.

It currently has more than 30,000 employees and over 4 million student users. The students also have an option of choosing whether they want one on one tutoring or join a class with a group of students. The company is estimated to be around $15.5 billion making it one of the most valuable Ed-tech startups in China.

VIPKid

Company	VIPKid
Founded year	2012
Headquarters	Beijing (China)
Funding	$1.1 Billion
Investors	Tencent, Sequoia Capital China, YF Capital, Learn Capital, Matrix Partners, Coatue, Sinnovation Ventures, Northern Light Venture Capital

VipKid Logo

VIPKid was founded in 2018 is one of the leading English tutoring education apps in China. The platform provides more than 1.5 million free English tutoring classes for children from age 4 to 15 years old. VIPKid currently has over 700,000 paying users and more than 80,000 North American teachers. The platform allows the parents of the students to book for sessions and later upload their classes online.

The English classes are often based on the American state’s standard, while the teachers can review their students work and give their feedback. The company aims to create a global classroom that empowers students and teachers and connect different cultures around the world. During the beginning of the Covid 19 Pandemic, the company was dedicated to providing free classes to the children of Wuhan.

Zuoyebang

Company	Zuoyebang
Founded year	2014
Headquarters	Beijing (China)
Funding	$2.9 billion
Investors	FountainVest Partners, Sequoia Capital China, Tiger Global Management, Softbank Vision Fund, Alibaba Group, Xianghe Capital

Zuoyebang Logo

Zuoyebang is another popular EdTech startup in China that was founded by Hou Jianbin in 2014. The platform offers assistance and support for the student’s homework. It also allows its users to upload their questions and doubts and receive an answer later, as it is driven by AI software. Zuoyebang is made especially for the students of primary, junior, middle and high school only.

The platform has paid and free online courses and live classes on various subjects, for students up until class 12. It currently has more than 50 million daily student users and over 170 million active users in a month. The parent company of Zuoyebang is Baidu and it has so far raised over $2.9 billion.

Hujiang

Company	Hujiang
Founded year	2001
Headquarters	Shanghai (China)
Funding	$187 million
Investors	SIG China, Baidu, Kaishi Capital, China Minsheng Investment, Anhui Xinhua Media, etc

Hujiang Logo

Hujiang is a well-known Chinese EdTech platform for learning different languages. This Shanghai headquartered company was initially founded by Cairui Fu in 2001. Besides providing language-learning solutions, it also offers corporate training solutions for Chinese companies. The languages that Hujiang provides classes in are English, German, French, Spanish, among others.

Hujiang app and website also have many languages learning online tools such as translators and dictionaries for all the languages it teaches. Its platform is divided into four different services which include a news platform, an online community, online tools and live or online courses and works on the enrollment revenue model. Hujiang provides its services offline schools and colleges across the country in order to fill the gaps in the education sector.

Huohua Siwei

Company	Huohua Siwei
Founded year	2016
Headquarters	Beijing (China)
Funding	$593 million
Investors	Tencent, Hike Capital, Trustbridge Partners, Yuanfudao, GSR Ventures, GGV Capital, Seqouoia Capital China, Kohlberg Kravis Roberts

Huohua Siwei Logo

Huohua is another leading EdTech startup in China that is an AI-based online learning platform that focuses on students below class 12. The company was founded by Jian Luo in 2016 and has its headquarters based in Beijing, China. The platform offers online classes, live sessions, AI based interactive games, and is available on both android and iOS platforms.

Huohua focuses on subjects like Maths and Science, while its games are designed in a way that develops student’s fundamental ability of thinking and concentrating. So far the platform has over 250,000 active student users and more than 85,000 daily active users. Its mathematic classes have become popular because they are divided into three modules which are spatial thinking, computing power and logical reasoning.

Changingedu

Company	Changingedu
Founded year	2014
Headquarters	Shanghai (China)
Funding	$188 million
Investors	Sequoia Capital China, IDG Capital, FREES FUND, Trustbridge Partners, TAL Education Group, ClearVue Partners

Changingedu Logo

Changingedu is an upcoming online to offline Edtech startup that was founded by Liu Changke in 2014. The company has its headquarters in Shanghai and is known for making educational apps that connect students, parents and teachers. Changingedu focuses on creating after school learning services, while the parents are also allowed to send their doubts and enquiries about the app’s services.

The platform offers virtual services, educational services, live streaming and get your questions answered. Changingedu offers one on one teaching courses for primary & secondary school students and is available in over 11 cities across China. Changingedu has a six-week learning contract with students for a one on one teaching experience, if the students don’t like it they can ask for a refund. The platform claims to have provided 10 million hours of teaching services.

CodeMao

Company	CodeMao
Founded year	2015
Headquarters	Shenzhen (China)
Funding	$360.4 million
Investors	CITIC Securities, Goldstone Investment, Youshan Capital, Sino-Ocean Capital, Wens Investment, Hillhouse Capital Group, Baring Private Equity Asia, Greater Bay Area Homeland Development Fund

CodeMao Logo

CodeMao is another leading Chinese Edtech company that focuses on online programming learning tools for children up to class 12. Besides provides programming courses, the platform also helps in IT learning and training tools. The company was founded by Tianchi Li and Yue Sun in 2015 with its headquarters based in Shenzhen. The students can collaborate on different projects with other students.

CodeMao aims in helping students learn programming and computer coding through an interface that is game-oriented. The courses are designed in a way that children can learn coding tools, programming concepts and exercise their logical thinking abilities. Through this platform, the students can use coding tools and coding languages to build games, software’s, animations that will be reviewed by their teachers.

DaDaABC

Company	DaDaABC
Founded year	2013
Headquarters	Shanghai (China)
Funding	$863 million
Investors	Loyal VC, Yonghua Capital, TAL Education Group, Qingsong Fund, Warburg Pincus, Oriental Fortune Capital, Tiger Global Management

DaDaABC Logo

DaDaABC is another English learning EdTech platform that competes with VIpKid. The company was started by Grace Zhi and Dennis Lee in 2013 with headquarters based in Shanghai, China.

This platform provides students of the school with one on one English courses live and has so far won over 15 awards for its excellence in the field. DaDaABC is said to operate on flipped classroom model that uses blended learning strategies to teach their students.

Unlike VIPKid the platform hires native speaking teachers especially for student of 5 to 16 years old. The platform also teaches French and Spanish from 2017 and also has an option where children below six years can learn English. So far the DaDaABC has over 10,000 teachers and more than 100,000 active students weekly.

17zuoye

Company	17zuoye
Founded year	2011
Headquarters	Shanghai (China)
Funding	$585 million
Investors	Dong Ni Education

17zuoye Logo

17zuoye is known to be one of the largest online EdTech Companies in China, with headquarters in Shanghai, China. The company was founded by Dun Xiao and Liu Chang in 2011, while the platform focuses on providing homework solutions and live English & math’s classes. As of 2018, the platform had over 60 million users and 120,000 schools and plans to expand to more middle and high schools across the country.

17zuoye offers services such as learning tools, learning contests, study reports submitted to the parents, among others. The company also has many global partners with countries like the USA, UK, Japan, South Korea, where it promotes its content. The platform aims to provide international level education and give students equal access to education.

Frequently Asked Questions

What are the top EdTech startups in China?

The top EdTech startups in China are 17zuoye, DaDaABC, CodeMao, Changingedu, Huohua Siwei, Hujiang, Zuoyebang, VIPKid, and Yuanfudao.

How much is the Global EdTech industry worth?

The EdTech industry is estimated to reach over $7 trillion by 2025.

How much is the EdTech industry in China worth?

The country’s EdTech industry reached RMB 453.8 billion in 2020, according to iiMedia’s Research.

September 16, 2021

What is the Common Prosperity Bill being imposed in China? | How will it impact China?

Chinese President Xi Jinping has recently come out and asked China to help him achieve the goal of Common Prosperity, a bill that can help narrow the growing wealth gap and focus on social value. Common Prosperity was first mentioned by Mao Zedong the former president of the People’s Republic of China in the 1950s but has come to existence again with the current President Xi Jinping.

Currently, people of the country are unclear on how this law may be implemented, but according to the speculations, the big tech companies of China are now under pressure from Beijing to donate towards the initiative. According to Xi Jinping, Common Prosperity is not only an Economic goal that the country has to reach, but is also the core of the Chinese Communist party’s governing foundation.

The Growing Wealth Gap in China
A Brief about the Common Prosperity Bill
How will the Common Prosperity bill be achieved?
How will the Common Prosperity bill Impact China?
Frequently Asked Questions

The Growing Wealth Gap in China

According to few studies, 20% of the China rich population earn ten times more than 20% of the poor population. This is a wider wealth gap than compared to countries like America, Germany and France.

The statistics of the country say that over 600 million people (which account for over half of the country population) live on an annual income of 12,000 yuan or $1,856 US dollars. While the rich sector of the country has only increased over the past few years, China has a total number of 1,058 billionaires as of 2021.

A Brief about the Common Prosperity Bill

As mentioned above Common Prosperity was initially coined by mentioned by Mao Zedong the former president of the People Republic of China in the 1950s. The law was also mentioned again by Deng Xiapong who was the former leader of the People Republic of China, the man who played a vital role in modernizing the Chinese economy after the Cultural Revolution.

Deng Xiapong version of Common Prosperity is different from president Xi Jinping idea because it centered on allowing certain people and regions to get rich first in order to speed up economic growth in the country.

This has long been the goal of the current President Xi Jinping, as he had mentioned the goal in his 2017 speech at the party congress to mark the start of his second term.

According to him, Common Prosperity aims in closing the wealth gap in the country and proving the legitimacy of Communist Party rule. Common Prosperity is often misunderstood as egalitarianism, but it does mean bringing down the rich in order to help the poor.

According to many Chinese analysts, the goal of common Prosperity should be about helping those who need it the most. This bill will however target the Successful MNCs of the country, Tech and Gaming companies, which has alarmed the investors.

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How will the Common Prosperity bill be achieved?

There are possibilities the law will include policies ranging from Tax evasions and limits on how many hours tech companies employees can work among others. The taxes are said to be used to expand the proportion of the Middle class and boost the income of the poor in the country. The goal will also help adjust excessive income of the rich and possibly ban illegal ways of income.

The Chinese Government is now encouraging the country’s top MNCs and rich individuals to contribute to society through the means of charity and donations. Recently Alibaba announced that it will be investing over $15.5 billion to support the initiative of Common Prosperity. Other big tech companies like Tencent have also pledged over 100 billion Yuan or $15 billion towards numerous initiatives.

While founders of big companies like Pinduoduo, Meituan and Xiaomi have all promised billions of dollars toward social causes in order to support the goal of Common prosperity. These companies are said to invest money into the sectors of innovation of new technology, development of the country’s economy, creating high-quality jobs and supporting vulnerable groups.

Besides that, the Chinese Government has is already implementing laws for restricting gaming time for minors below the age of 18 years old to only three hours a week.

The Chinese government is also planning to ban tutoring companies from making a profit by teaching their students the syllabus on nights and even weekends. The Government also announced a reform plan to reduce healthcare costs, especially in public hospitals.

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How will the Common Prosperity bill Impact China?

Many state agencies and tech companies have started to announce that they will invest huge amounts of money to help reach this goal, by doing this they are signaling their allegiance to this Communist Party and its upcoming schemes. If this bill is put in action it can help make housing more affordable especially in the main cities of China.

There are speculations that the bill might lead to the nationalization of private companies. The bill also will help the middle class and poorer sectors of Chinese populations in accessing education and healthcare. It also encourages the richer sector of the Chinese population to be more philanthropic and donate towards the growth of society.

The income of the rural areas can increase and they will also be able to avail public services easily. With this bill, China is aiming to increase domestic demand and self-reliance which has been propelled by the ongoing tensions between China and America.

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Frequently Asked Questions

What is the Common Prosperity Bill?

Chinese President Xi Jinping has recently come out and asked China to help him achieve the goal of Common Prosperity, a bill that can help narrow the growing wealth gap and focus on social value.

Who first coined the term Common Prosperity?

Common Prosperity was first mentioned by Mao Zedong the former president of the People Republic of China in the 1950s.

Why is the Common Prosperity Bill being implemented?

The Common Prosperity Bill is being implemented in order to reduce the wealth gap in China’s population and help the country’s economy increase.

How many billionaires does China have?

China has a total number of 1,058 billionaires as of 2021.

September 7, 2021
Why is China limiting gaming? | How will it impact Gaming Startups?

On August 31^st 2021, China’s National Press and Publication Administration have released a statement regarding the restrictions on online gaming in order to reduce gaming addiction among minors. The video game companies will now have to restrict gaming time for teenagers below the age of 18 years old.

The minor will not be allowed to play only from 8 pm to 9 pm on Friday and at weekends like Saturday and Sunday. This move was taken by the Chinese Government in order to combat the gaming addiction that is rising among Chinese minors. The statement also urged parents and schools to step up their supervision as children could continue playing through adult’s accounts.

The new restrictions imposed by the Chinese Government
The Gaming addiction in China
What do teenagers think of the new gaming restrictions?
Impact of these restrictions on Gaming Startups
Frequently Asked Questions

The new restrictions imposed by the Chinese Government

Besides adding restrictions on forbidding teenagers under 18 years to only 3 hours of playing every week, the gaming companies must also ensure that the verifications for the apps are strict.

The gaming apps should also be connected to an anti-addiction system that will be set up by the NPPA. This system is a strict ID verifications system that lets a person have only one account and only through their real name. The punishments for going against these restrictions are that the gaming companies will have to pay huge fines and penalties.

This is not the first time the Chinese government has imposed restrictions as in 2019, the government passed laws to limit minors to play games for only one and a half hours on weekdays and three hours on weekends, with no gaming from the timings of 10 pm to 8 am. There was another limit on how much minors can spend on in-app game purchases, the maximum amount that could be spent depending on age was ranged from $28 to $57.

Earlier in 2017, the major gaming company Tencent Holdings also made restrictions for limiting the time minors spent on playing their game Honor of Kings, after many parents complained about their kids getting addicted to the game. Tencent also came out with a facial recognition feature that helped parents keep vigilance over their children especially at night.

The Gaming addiction in China

China is known to be the world largest market for online gaming, the top gaming companies are from China. This has led to China youth becoming highly addicted to the gaming culture. The situation in China has worsened as teenagers below 18 years are getting treated for their gaming disorders in clinics. Besides Gaming addiction, China also reported that its rates of nearsightedness have increased considerably in 2018.

According to many studies over 62.5% of Chinese teenagers play online games often, while 13.2% of teenagers play online games for more than two hours every day.

China also has had growth rates of Myopia for the past two or three years. According to the newspaper called People Daily, the government had to be ruthless with restrictions because it wanted to impair normal study life and improve the physical and mental health of the teenagers.

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What do teenagers think of the new gaming restrictions?

Teenagers over the country are enraged and are not happy with the new restrictions. Many teenagers came to social media to showcase their outrage with the new restrictions.

One comment said, “This group of grandfathers and uncles who make these rules and regulations, have you ever played games? Do you understand that the best age for e-sports players is in their teens?”

Some teens think that it is a useless restriction as many kids can use fake details or and national identification numbers when signing into games by using the login details of adult family members.

A 17-year-old gamer added that this wasn’t a family education issue, not a gaming issue. However, many parents are heartened by the new rules saying that this will help reduce their children’s addiction towards gaming.

Revenues generated by online gaming in China

Impact of these restrictions on Gaming Startups

All the gaming companies will now have to have a strict ID verification system, which means the users can only have one account and only through their real name. The regulators are installed in order to keep a watch on whether or not gaming companies comply with local regulations.

According to many analysts, the restrictions will not have much financial impact on the Gaming Industry now as the children do not provide much revenue for gaming companies, but the implications for the long-term growth of the gaming industry can be worse. Another analyst also added that these restrictions have the possibility to destroy the entire habit-forming nature of playing games at an early age, which can be detrimental to the gaming industry.

What the industry is scared of is if the Chinese government stops approving new games as it had done in 2018, where it had suspended game approval of new video game titles for a duration of nine months. In addition to that, the new restrictions do not punish the individuals for infractions but the gaming companies.

But other investors are not concerned about the restrictions and have continued buying Chinas major gaming companies. The top Gaming Companies like NetEase, Krafton Inc, Nexon and Koei Tecmo, have already seen their stocks falling from over 3.45 to 4.8%.

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Frequently Asked Questions

What are the top Gaming companies in China?

The top Gaming companies in China are Tencent, NetEase, Nexon and Koei Tecmo, etc.

What are the new gaming restrictions in China?

The video game companies will now have to restrict gaming time for teenagers below the age of 18 years old, so they can now only play for three hours a day.

Will the new restrictions impact the Gaming industry in China?

According to many analyst, this will not impact the gaming industry currently but the implications for the long-term growth of the gaming industry can be worse.

September 3, 2021
Top 9 Unknown Facts About The Shein Founder And CEO – Chris Xu

Chris Xu is a Chinese American, who is the founder and CEO of the most iconic fashion domain Shein. Since his heyday in 2008 began, he has been known as the notorious e-commerce venture.

He is a Chinese born in the United States, where he did his graduation from Washington University. Before Starting with his idea of making Shein, he was a member of a trading premium enterprise-Nanjing Aodao.

Moreover, he fit into everything all by himself from self-designing his products to generating customers to make a purchase- Multi-Talented in sales, marketing, revenue, and supervision. His hard work really paid well towards making Shein, which developed as an eminent empire of fashion all over the world.

Chris is the Chief Executive Officer of the notorious fashion B2C platform and the sole creator of Shein which vends various products such as accessories, clothes, Application software and shoes underscoring on women and kids.

Chris Xu’s determination on creating the fashion portal is stupendous as he recruited fashion designers from different parts of the world to contribute the best products according to customers’ preferences, And He did it.

In the meantime, he mastered the marketing field especially in Search engine optimization (SEO) and launched his long-held aspiration ‘Shein’ in 2008. As a means to accomplish the Shein globally, he partnered with designers. And now, he is one of the richest men and renowned entrepreneurs.

Top 10 Unknown Facts about the founder of fast-fashion platform ‘Shein’ Chris Xu:

Chris Xu created Shein with the money, he earned by selling wedding dresses
Chris Xu is known as SEO pro
Chris Xu created the Chinese fashion Empire
Chris Xu shaped a designer team
Chris Xu’s perspective is ingenious
Chris Xu’x company ‘Shein’ was banned in India
Chinese don’t know Shein founder
Shein’s Controversy
Chris Xu’s Net worth
FAQ

Chris Xu created Shein with the money, he earned by selling wedding dresses

Chris Xu implemented his idea of creating fashion stuff at an affordable rate commenced in 2008 where he espied that wedding dresses are one of the most highly-trending as well as expensive products from international markets.

So he sold his wedding clothes at a bargain-basement range to customers, there, he began the process of building Shein with the money he has earned by selling his wedding clothes.

He analysed the demand of people and worked on fashion which gravitates among gen Z.

Chris Xu is known as SEO pro

When he moved to Nanjing and worked as an integrated member in the marketing consulting company- Nanjing Aodao Information Technology. Being a part of the marketing department, he became a pro in SEO and leads the technical tools by himself.

Chris Xu created the Chinese fashion Empire

He began this most popular fashion platform with an aim to improvise the currency conversion, where he faced the issue which stopped international customers from purchasing products.

Chris Xu shaped a designer team

He formed a designer team in order to attain global recognition, so he partnered with many designers by assigning 30 per cent commission for their work.

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Chris Xu’s perspective is ingenious

Shein X

Chris Xu’s plan for Shein mainly focuses on collaborating with young designers. The program is termed “Shein X”. The program supports rising designers who lack resources to get a breakthrough and their talents to get noticed.

The inaugural group of designers for this program are seven creatives who offer fun, unique and fresh designs. The partnerships are for three months which can be extended further. And the next batch of seven designers will be selected through an application process.

Other plans include opening traditional stores, supply chain finance, advertising, etc.

Chris Xu’s company ‘Shein’ was banned in India

On June 29, 2020, the Central Government of India banned 59 Chinese applications citing privacy concerns as the reason. Shein was one among the 59 applications and was alleged that the customer data was being stolen and was transmitted to locations outside India in an unauthorised manner.

Shein issued a statement in this regard on 8 July 2020, saying that the company was working diligently on preparing and submitting significant documents required by the Indian Government that comply with the new policies and that customer privacy was its top priority.

Chinese don’t know Shein founder

It is difficult to believe that a company as famous and successful as Shein and its founder isn’t known in the country in which it considers as a product headquarter, is it not? Shein has its headquarters in Guangzhou, China where its production takes place. But the company is engaged only in the exports business making it unknown to Chinese consumers, thus making Chris Xu another human being in the masses to the people of China.

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Shein’s Controversy

Shein Swastika

Shein has had its share of controversies in the past. In July 2020, the company was caught in the headlines due to selling a swastika pendant which was identified as a Nazi symbol.

The company apologised via social media post stating that the pendant was meant as the Buddhist symbol that stood for spirituality and good fortune.

Another controversy that Shein faced was because of a phone case that had a black man cuffed with a white border. After severe backlash, the product was removed.

In addition, the general controversy that Shein might be a scam site as the products were sold at a price that is less compared to most brands targeting women as their customers.

Chris Xu’s Net worth

The net worth of the online fashion platform exceeds $15 billion. The company ships its product to 220 countries and the US is considered Shein’s largest market.

The company also earns income through YouTube and other platforms. The revenue data of the company isn’t established but the income is estimated at $10 billion annually.

Conclusion

Creating a brand that does not have a physical presence but is recognized and has held its top place in the industry for years is no easy feat. Chris Xu is the man behind this massive success. His idea’s fruition has been a lifeline to women around the world who want to celebrate fashion but at an affordable price. And the mystery created due to the lack of information on this dedicated billionaire CEO only adds up to the allure.

FAQ

Who is Chris xu?

Chris Xu is the founder, entrepreneur and CEO of the renowned fashion platform Shein.

What is the net worth of Chris Xu?

According to the reports, it is estimated that Chris Xu’s net worth was around 15 billion, with a ten thousand sales turnover per day.

When did Chris Xu founded Shein?

Chris Xu founded Shein in 2008.

August 25, 2021
Why did the Chinese Government Ban the ride-hailing firm Didi?

The Chinese Government had been hunting down the tech giant Alibaba for a long time in the country and has also ensured to remove Jack Ma from his board member position. The Government and the regulatory authority have recently removed a tech company from the app store of China soon after it was listed on the NYSE. Let’s look at why China had banned Didi.

Didi – Latest News
About Didi
Why was Didi Banned in China?
Didi’s response on the Ban
Chinese regulators on overseas listed companies
FAQ

Didi Ban – Latest News

The shares of the company, Didi had seen a fall of around 20% as the Chinese Regulators had removed the application from the app store in China. The company has been all over the news in regards to the troubles in China.

The mobile application is said to have been collecting various information from the customer and this is considered to be the major reason for tightening the restrictions on the mobile application.

The company had been listed on the New York Stock Exchange but just after some days of the listing the Government of China had accused Didi of cybercrime and have suspended the new registration of customers on the app.

About Didi

Didi is a Chinese based vehicle hiring company that was started in the year 2012. The company has its headquarters in Beijing and has more than 550 million users and tens of drivers associated with it.

The services provided by the company include transportation services, social ride sharing, taxi hailing, bike sharing, social ride sharing etc. which are app-based services. They also provide services such as on demand delivery services, automobile services which include leasing, sales, financing, maintenance, electric vehicle charging, co-development of automobiles with automakers, etc.

In the year 2016, the company had acquired the Uber in China and has established a prominent space in the industry.

Why was Didi Banned in China?

The Chinese regulators have conveyed that the app posed a cybersecurity risk for the customers and that is one of the major reasons to remove the mobile application from the app store. The regulators have also accused the company for have collecting and using the personal information of the customers illegally.

Some experts have estimated that the crackdown on Didi by the Chinese regulators is an attempt to prevent the data and information of the Chinese companies to be leaked outside. The company was listed on the New York Stock Exchange in month of June 2021.

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Didi’s response on the Ban

The shares of Didi have been falling since the tightening of regulations from the Chinese authority. The investors of the company have been clattered and this has happened within a week since the company had gone public in the United States.

Didi Share Price

Didi is enormously reliant on its home market and has more than 300 million active users in the country. The company has conveyed that they are working with the regulators in order to comply with the rules and regulations and towards working to make certain changes to the application.

Chinese regulators on overseas listed companies

The Regulators of China has stated that they would increase the regulations that they have laid down on the overseas listed companies. The country will start regulating a keeping a periodic check on the information such companies are sending and receiving across the borders. The motive is said to ensure that the Chinese consumers are safe from cybercrimes or the leak of personal information.

The Government has made a strict order to punish certain illegal activities by the companies such as fraudulent share issuance, market manipulation, embezzlement, etc. The regulators have conveyed that the securities fraud was prominent in the overseas market.

Conclusion

However, the company has conveyed that the customers and the drivers who had already downloaded the application won’t be affected due to the crackdown and also the company has stated that it expects a hit in its revenue generation in the country.

FAQ

When was Didi Chuxing founded?

Didi Chuxing was founded in 2012 by Cheng Wei, Zhang Bo, Wu Rui.

Why did China ban Didi?

China’s internet regulator banned Didi’s, saying it illegally collected users’ personal data.

July 8, 2021
Why is North Korea Facing its Worst Financial Crisis?

The onslaught of the novel coronavirus pandemic has had disastrous effects ever since it broke out the past year. Though the mortality rates have significantly reduced in many countries this year, the harrowing aftermath of the disease is what is still dragging on in many others, including North Korea.

North Korea is witnessing the worst slump that has happened in a span of more than two decades, according to experts.

But why is the Democratic People’s Republic of Korea in such distress?

For this, let’s delve into the background of the situation:

North Korea Crisis – Latest News
The Background of North Korea
What went wrong with North Korea?
The Aftermath
Kim’s Intentions
FAQ

North Korea Crisis – Latest News

June 21, 2021 – Food crisis continues to soar in North Korea, along with the economic breakdown that the country is facing. Essentials like bananas are selling at Rs 3300/kg, a packet of black tea is priced at Rs 5190, and a pack of coffee is retailing at Rs 7415.

May 4, 2021 – In a series of statements released by North Korea on May 2, 2021, the country slammed US president Joe Bidden’s policies and rhetoric. Any talks of diplomacy are still stalled between the two nations as suspense rises in a fashion similar to that of the Cold War.

April 8, 2021 – North Korea has decided to stay away from the upcoming Tokyo Olympics. It is clear from the state-run website that the country would not be participating in the behemoth of sports events to protect its players from risking their health amidst the pandemic crisis. With this decision, it has become the first country to drop out of the Olympics.

The Background of North Korea

With the onset of the pandemic, North Korea had to also resort to restrictive measures on international trade and commerce to keep the pandemic at bay. However, these plans of limiting international sanctions have grown to become a self-imposed blockade on the trade, which has, in turn, backfired unprecedentedly.

What went wrong with North Korea?

There were a series of missteps along with some unfortunate events that together steered the situation towards the worst for North Korea.

Thriving in a pandemic situation it was evident to define a sustainable economic plan, which North Korea did, however, it failed miserably.

The inner circle of the government was poor with “innovative viewpoints and clear tactics” and failed to draw an effective plan that would work, Kim Jong-un said while addressing the frightened delegates of the ruling Workers’ Party last month. The economy minister, who was appointed in January has also been fired following the backlash.

China fuels North Korea with an ample supply of spare parts for factories and other manufacturing plants based out of the East Asian nation. As North Korea had already put a stop to their international trade, it has therefore blocked the influx of raw materials and other spare parts, fearing the spread of the deadly virus. This has resulted in the shutdown of some of the major North Korean factories including the country’s largest fertilizer plants.

Electricity has long been a chronic problem for the people of the country, which has been further aggravated by this acute deficit of materials. In addition, it has also disabled some of the country’s oldest power plants by limiting their total production of electricity. Furthermore, the production in coal mines and other mines is also experiencing massive disruption.

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Estimated GDP of North Korea in South Korean Won

The Aftermath of North Korea

As per the words of Alexander Matsegora, “Without imported materials, raw materials and components, many enterprises stopped, and people, accordingly, lost their jobs,” said the Russian ambassador to the Interfax news agency.

Times are so rough that if you manage to get something in the country, you might have to pay three to four times the prices before the crisis,” he told Interfax.

Situations are similar even in Pyongyang, the capital and the stronghold of North Korea, which houses the country’s elites. The necessary products, including the basic food items like pasta, flour, vegetable oil and sugar, clothes, and shoes, are reducing at an alarming rate, mentioned Matsegora.

North Korea’s trade with China depleted by around 80% last year after Pyongyang shut its borders, intending to stop the spread of COVID-19, which would have otherwise easily penetrated the feeble health infrastructures of the country.

Though this crucial economic juncture that the country is now experiencing echoes of the famine of 1990, things have changed since then and North Korea doesn’t risk a famine at present. This is partly because of the significant development of food production and distribution across the nation and a supportive ally, China, who might come to the rescue of North Korea.

The present economic pain would not risk Kim’s regime nor would it pressurize the country to retreat from the standoff over Pyongyang’s nuclear program but it surely portends a period of excruciating pain and agony for the countless ordinary citizens of North Korea.

Kim’s Intentions

The way Kim Jong-un is responding to the crisis happens to be making the situation worse. Kim, who seems to be retreating to de facto Leninism, has started focusing on central planning. This has been distinctively limiting the private entrepreneurial activities, which are central to the country’s economy. This has been summed up by the Seoul-based Russian university professor, Andrei Lankov, as the “dramatic U-turn” of Kim.

The Supreme Leader of North Korea demands the restoration and strengthening of the system under which the economy runs under the supervision of the state, which has become clear in the speeches to the ruling party. He has further added that the metal and chemical industries are the “main link in the whole chain of economic development.”

Furthermore, Kim also has disclosed his plans to maximize the control that the state has on society along with putting a stop to the growth of foreign culture and media. In addition, he also wants to suppress the “powerful mass campaign against practices running counter to the socialist lifestyle.”

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Conclusion

Kim’s recent move towards establishing a Stalinist economy work across the country, Lankov said, “is pretty much as hopeless as teaching pigs to fly”. The Seoul-based professor has also stated that Kim realizes that but he is also insecure about losing control. Therefore, he is choosing these times of crisis to expand his control over the economy and population and make his place secure.

Kim’s intentions revolving around central planning and the “juche” philosophy of self-reliance that he seems to be adhering to, is termed as “unrealistic” where the economy of the country is dependent on the trade with China, according to the experts.

FAQ

Is North Korea having a food shortage?

North Korea is facing a severe crisis after the Covid-19 pandemic, as prices of essential food items have increased sharply due to shortage.

Why is there food shortage in North Korea?

North Korea is going through an acute food crisis, due to the aftermath of floods, typhoons and pandemic, wherein the food prices have been as high as bananas selling for $45 (Rs 3,335) per kilogram, a packet of black tea for $70 (Rs 5,190) and a pack of coffee for $100 (Rs 7,414).

Why is North Korea poor?

Poverty in Korea has been attributed to poor governance by the totalitarian regime. It is estimated that 60% of the total population of North Korea live below the poverty line in 2020.

June 25, 2021
How Shifting Display Manufacturing Unit from China to Noida will benefit Samsung?

Samsung is a multinational conglomerate that is majorly known in India for its smartphones. The company was founded in the year 1938 and has its headquarters located in South Korea. The company has the 8th highest global brand value as of 2020 and also has a number of affiliated businesses under the brand Samsung.

The company in a recent press release had announced that it is shifting its manufacturing unit for display production from China to Noida. Let’s look at the benefits for the company is shifting the manufacturing unit to India.

Samsung – Latest News
How will Samsung Benefit by shifting Display Manufacturing Unit from China to Noida
Samsung Delegation on shifting Display Manufacturing Unit
Chief Minister of Uttar Pradesh on this move by Samsung
FAQ

Samsung – Latest News

Samsung has announced that it has completed the shifting of its display manufacturing to Noida. The company had conveyed that it has finished the construction of the manufacturing unit in Noida. The new manufacturing unit that is based in Noida is the new manufacturing hub for display production.

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How will Samsung Benefit by shifting Display Manufacturing Unit from China to Noida

The company has stated the reasons and benefits for moving the plant from China to Noida is the Industrial environment in India is much better than in China and also added that the policies in India are much more industrial friendly.

Other than these, one of the major points to be noted is that Samsung already has its biggest manufacturing plant in the world located in Noida. This facility is not only involved in the manufacturing the phones for the country but also exports them to other countries.

India is also a major country where Samsung has a huge consumer base. Samsung has seen a 52 % increase in the growth of the smartphones in India in the 2021 Q1. The company also has a 20 % market share in India. India is also focusing on the Make in India concept and trying to reduce as much as goods from China.

Smartphone Market Share Q3 2020

Samsung Delegation on shifting Display Manufacturing Unit

A team from Samsung which was led by the CEO Ken Kang and the company’s Southwest Asia President had called upon Yogi Adityanath who is the Chief Minister of Uttar Pradesh on 20 June 2021 and stated that the company had finished the construction of the Display production unit in Noida and would be shifting the manufacturing unit from China to Noida.

One of the reasons stated by them to shift the plant from Noida to China was the Industry friendly environment in India. The company further added that they were planning to make the manufacturing hub of Samsung in Noida.

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Chief Minister of Uttar Pradesh on this move by Samsung

The Chief Minister of Uttar Pradesh Yogi Adityanath had conveyed in the meeting that the Make in India is a successful campaign and the Noida factory of Samsung is one of the major examples for it. He further added that the new manufacturing unit of Samsung will be creating a lot of employment opportunities for the youth of the country.

The Chief Minister also provided an assurance to the team from Samsung that the Government of Uttar Pradesh will continue to help and support the Samsung company in the future as well.

Conclusion

The team from Samsung had mentioned that the construction work shows their commitment towards India in order to make the country a manufacturing hub of Samsung. However, the company had already started the manufacturing of its smartphone displays in Noida from April 2021. The company had also recently expanded the portfolio of its Tablets in India with the release of Tab A7 Lite and Galaxy Tab S7 FE.

FAQ

Is Samsung phones manufactured in India?

Samsung has two factories – in Noida and Tamil Nadu, where it makes 90% of the handsets it sells in the country, it also has three R&D facilities in India.

Where is Samsung’s biggest manufacturing unit?

Samsung’s biggest mobile manufacturing plant in the world is in Noida which is a 35-acre facility.

Why does Samsung manufacture in India?

Samsung believes that Industrial environment in India is much better than in China and also added that the policies in India are much more industrial friendly.

June 22, 2021
Jack Ma: The Success Story of China’s Richest Man and the Co-Founder of Alibaba
Quite often you would come across motivational and awe-inspiring posts about how Jack Ma dealt with his struggles. Jack Ma Yun, the well-known Chinese business magnate, investor, and philanthropist, is popular not only with entrepreneurs, industrialists, billionaires, and business professionals but with many other individuals as well, students or otherwise.

Jack Ma’s net worth is $26 billion. Ma was once hailed as the richest man in China and currently features in the top 10 list of China’s richest men, with the richest man currently in China being Zhong Shanshan. Besides, Jack Ma was also listed second in the “Word’s 50 Greatest Leaders” by Fortune in 2017.

Starting his career as an English teacher, he co-founded one of the largest e-commerce websites that are in existence today, Alibaba, and is also counted amongst entrepreneurs with mind-boggling rags-to-riches backstories.

Did you know that Jack Ma, the owner of this multi-billion dollar online retail portal was rejected by Harvard university 10 times?

“I applied for Harvard, for 10 times, rejected,” Jack said. Therefore, he was not unknown to rejections and disappointments that plagued his journey to stardom. Nevertheless, the man wasn’t one to cave in so easily. While Jack wasn’t a hardcore techie himself, he did an amazing job in taking Alibaba to where it stands today.

Here’s the Jack Ma success story for you, if you are curious to learn about Jack Ma, how he founded Alibaba, and his journey!

Jack Ma – Early Life and Education
Jack Ma Story
Startup Ideation
Jack Ma’s Alibaba Conceived
Stepping Down
A Lesson to Learn from Jack Ma
Rankings In Various Lists

Jack Ma – Early Life and Education

Jack Ma wasn’t born into old money, he is a self-made billionaire. He had a modest childhood and grew up while communist China was transitioning into a superpower. Jack’s parents weren’t earning enough to consider themselves middle-class. It was Richard Nixon’s visit to China in 1972 that changed Jack’s childhood. President Richard Milhous Nixon’s trip to Jack’s hometown saw tremendous growth in tourism, converting Hangzhou into a tourist mecca. As a kid, Jack wanted to learn English and he used to provide tour guide services to foreigners for free. He used this as a medium to improve his English. Subsequently, Jack became an English teacher.

After graduating with a bachelor’s degree in English, he worked as a teacher at Hangzhou Dianzi University on a salary of 12 USD per month.

Jack Ma Story

Rejections and Jack Ma went hand in hand. After failing in his primary school exams multiple times, and failing his middle school exams thrice, those around him labelled him a failure. He was rejected every time he applied to Harvard University. He had ten rejections by Harvard University!

Disastrous results continued even after graduation. Multiple job rejections graced his journey; during the recruitment by KFC, he was the only one among 24 applicants not to be selected.

His initial ventures saw similar results, they plummeted. But, the stumbling didn’t deter him; he was adman to make a mark in the e-commerce segment.

Startup Ideation

Jack Ma visited the United States for a project on building of highways. His stay in the United States was an exposure to the world of computers. The people in China weren’t that exposed to the technology sector and hence, the usage of computers amongst Chinese was almost negligible. Services like e-mail and the internet weren’t a common occurrence.

When Jack used the search engine Mosaic, the first word he searched was beer. The search results quickly flashed on the screen. But when he searched for China, there were no search results. This infuriated Jack Ma, and he took the onus of bringing China on the internet radar.

Jack Ma’s Alibaba Conceived

Jack Ma’s Alibaba

After approaching his friends, seventeen agreed to join him for an e-commerce startup, and named it “Alibaba”. The company was created in his apartment. Alibaba was struggling to survive initially as it did not receive a single penny in investment. The investments of 20 Million USD form SoftBank and 5 million USD from Goldman Sachs in 1999 saved Alibaba from falling apart.

The biggest challenge for Alibaba was to gain the trust of the Chinese which it succeeded at in the end. Jack Ma motivated his team In times of difficulty by telling them they were a young team still learning. A leader was about to change the face of e-commerce.

Once Alibaba was in the picture, it faced stiff competition from eBay in China. To defeat eBay, Yahoo came to assistance. The company invested 1 billion USD in Alibaba. In exchange for the investment, Yahoo gained a 40% stake in the company. This was fruitful for both the companies as Alibaba became a household name in China and Yahoo gained 10 billion USD through Alibaba’s IPO.

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Stepping Down

Jack Ma stepped down as the CEO of Alibaba in 2013. However, he continued as the executive chairman. The company created history as its 150 billion IPO was the largest offering of a US-listed company in the New York stock exchange’s history. By virtue of this IPO, Jack became the richest man in China.

Apart from serving people and bringing revolution through Alibaba, Jack supports environmentalism. He is a member of the global board of The Nature Conservancy. Jack has also funded a 27,000-acre nature reserve in China.

The Alibaba group conducts various annual talent shows in order to engage with their customers. Jack is known to be a natural entertainer. During one such event, he performed wearing a punk costume in front the audience.

A Lesson to Learn from Jack Ma

Coming across challenges, stumbling forward and then rising up sums up Jack Ma’s journey. To many, he is the ideal entrepreneur. Alibaba has given a face to many small and medium sized businesses across the globe. The world shall remember Jack Ma as a visionary who gave it the behemoth, Alibaba.

Rankings In Various Lists
- Jack Ma is ranked 1 in the China Rich List, 2019.
- He is ranked 21 in the Billionaires List, 2019.
- He is ranked 7 in the Richest In Tech, 2017.
- He stands in the 21st position in the Most Powerful People List, 2018.
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FAQs

Who is Jack Ma?

Jack Ma Yun is a Chinese business magnate, investor and philanthropist. He is the founder of the E-commerce giant Alibaba and is a stakeholder at Alipay, its sister company, which is an e-payment portal.

What companies does Jack Ma own?

Jack Ma is the founder of Alibaba.

Where is from Jack Ma?

Jack Ma is from Hangzhou, China.

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