Xiaomi Plans Hong Kong IPO, China Reins In Tech Companies

Chinese smartphone manufacturer Xiaomi plans to launch its IPO in Hong Kong in what is anticipated to be the world’s biggest IPO in 2018. The filing with the Hong Kong stock exchange did not reveal the size or projected valuation of the offering, but sources say the company hopes to raise at least $10 billion. A source also reported that the listing will value the company at “less than the $100 billion figure previously suggested.” Xiaomi’s filing also uncovered some financial details for the first time. Continue reading Xiaomi Plans Hong Kong IPO, China Reins In Tech Companies

China Set to Toughen IP Laws in Pursuit of Tech Dominance

China wants to become the most dominant nation in artificial intelligence, and it’s got three advantages that might help that become a reality. In addition to strong government support, which includes a willingness to share data about its citizens, China also has an immense number of engineers to write software and 751 million Internet users who can test out the work they do. As China seeks to gain market share, President Xi Jinping seeks to strengthen intellectual property laws to give its startups an advantage. Continue reading China Set to Toughen IP Laws in Pursuit of Tech Dominance