Tech in Asia weekly briefing︱August 4th

East Asia

🇨🇳 Mainland China

  • TikTok owner ByteDance considers listing its China business in Hong Kong or Shanghai and President Trump gives TikTok until September 15 to sell its US business to Microsoft or face a ban
  • Online travel giant Ctrip the latest of Chinese tech firms to be in talks with investors to delist from Nasdaq
  • China’s central bank urges antitrust probe into Alipay, WeChat Pay
  • China’s electric SUV maker Li Auto raises $1.1 billion in US IPO
  • China now accounts for nearly one-quarter of Tesla revenue

Hong Kong

  • EMQ, a startup that develops network infrastructure to make international payments faster, raises $20 million in series B investments for expanding business, product development, and licensing
  • Uber ditches plans to move its Asia headquarters from Singapore to Hong Kong

Taiwan

  • Taiwan’s Digital Minister supports a dedicated personal data protection agency before electronic identification cards are introduced next year

🇯🇵 Japan

  • Six financial businesses under or invested in by Yahoo operator ZHD will reunite under the PayPal brand
  • Japan’s ruling party urges the government to restrict the use of Chinese-developed apps like TikTok to protect sensitive information better – a bill is currently being drafted
  • Toshiba announces the beginning of research and development for a next-generation cryptography technology named the “quantum cryptography network” in collaboration with NEC, Mitsubishi Electric, and the University of Tokyo

🇰🇷 South Korea

  • Samsung posts double-digit growth in Q2

Southeast Asia

🇵🇭 Philippines

  • Taxing tech giants moves closer to becoming law after a lower house committee approves a draft bill

🇹🇭 Thailand

  • Line’s Thai delivery app Line Man raises $110 million and merges with its domestic partner

South Asia

🇮🇳 India

  • Apple’s partners and Samsung apply for India’s $6.6 billion local smartphone production program
  • Toppr, one of the largest online learning startups in India, secures $46 million in a new financing round to scale its platform
  • TikTok tells Indian authorities it’s ready to store user data locally
  • Indian court summons Alibaba founder Jack Ma over subsidiary UC News accused of spreading fake news and censoring news critical of China

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