Mega trade fair goes online: Hello and welcome back to the China Roundup from TipsClear, a summary of the recent events that are shaping the Chinese technology landscape and what these events mean for people around the world. This week we’re seeing the backlash of Chinese technology companies around the world as sentiment against China escalates. China practically started one of the largest trade fairs in the world.
China Tech abroad
Boycott Chinese technology
Chinese apps face major challenges in India after an app called Remove China Apps, which made it easy for users to delete China-related services, went viral. Although Google has discontinued the app, sentiment against China is likely to haunt Chinese apps in India as political tensions between countries increase. Several Indian celebrities have helped delete Chinese apps in the past few days. Yoga guru Baba Ramdev tweeted a video over the weekend in which he deleted several apps belonging to China.
Decoupling from Chinese technology may not be easy in practice. According to Counterpoint data, four of the five leading smartphone brands in India are Chinese, three of which belong to the enigmatic BBK Electronics group based in Shenzhen. These Android phones usually come with a number of Chinese utility apps, so users will have to find alternatives if they want to give up the Chinese options.
China tech at home
Tencent Cloud drives mega fair
The outbreak of the corona virus is causing people to put everything online – including mega-sized measurements. This week Tencent announced that it will provide a technological infrastructure to digitize the oldest and largest Chinese fair, Canto Fair, which should be postponed due to the corona virus and later virtually postponed from June 15th to 24th.
The project is no small thing for Tencent. Last year, the fair, which took place in China’s largest trading city, Guangzhou, attracted nearly 200,000 buyers with sales of almost $ 30 billion.
The social networking and gaming giant with a growing cloud unit will provide more than 1,300 acceleration nodes in around 30 countries to handle traffic from hundreds of thousands of exhibitors and buyers (1,100 of these acceleration nodes will be in China).
The virtual system supports important trade fair functions such as matchmaking between exhibitors and buyers, product demonstrations through videos and interactive live streaming.
The project will also attract users to Tencent’s business-centric services, which have become the giant’s new growth focus. For example, Tencent Meeting, a zoom equivalent, can accommodate up to 300 participants per session. According to App Annie, the app is currently the most downloaded iOS business app in China.
ERP startup Jushuitan raised $ 100 million
Jushuitan, a six-year startup based in Shanghai that focuses on ERP (Enterprise Resources Planning) with a focus on e-commerce, announced the completion of a $ 100 million Series C round led by Goldman Sachs known. While China’s consumer-oriented Internet companies are in many ways on a par with their American counterparts, the country is still “5-10 years ago in the area of business software,” said Sun Mengxi, managing director at Goldman Sachs.
The company’s software-as-a-service solutions have served more than 500,000 e-commerce customers in China, but are striving to expand overseas, which will use part of the proceeds from this round of financing. The fresh capital will also help improve Jushuitan’s products and services, work to integrate it into supply chains, and enable it to invest in or acquire other companies.
Jushuitan is banking on the need for digitization in China’s massive online retail business, which has seen exponential growth since the early 2010s. The managing director and founder Luo Haidong claimed in an earlier interview that the “watershed” in Chinese e-commerce took place between 2013 and 2014.
“When e-commerce first appeared, stores were able to sell their entire inventory as long as they managed their orders well. However, as the number of stores increased and growth slowed after 2014, there was a greater need to improve management. I clearly felt that the market was demanding an integrated system for managing orders, warehouses and supply chains – that gave Jushuitan a great opportunity. ”