ZHANG YUSHUO

(Yicai Global) July 15 — China will further support the development of fresh business ideas such as those related to e-commerce and live-streaming to create new jobs along with rising consumption.

The government will reduce the cost of starting an online business and hiring, some 13 central government departments said in a guideline issued today. Side gigs and digital transformation are also encouraged.

Editor: Emmi Laine

LIAO SHUMIN

(Yicai Global) July 14 — Chinese communications equipment maker ZTE recently issued its first fifth-generation wireless network-based indoor router, the MC801A, jointly with Africa’s largest multinational telecom operator MTN Group, ZTE said on its website yesterday.

The router supports non-standalone and standalone 5G networks and is compatible with major 4G and 5G frequencies. It affords access to high-speed 5G networks to users with compliant devices as well as services on 4G smart terminals and Wi-Fi terminals.

Shenzhen-based ZTE has been working with its partners worldwide to accelerate commercial use of its 5G terminals and has reached cooperation with more than 30 operators, Yicai Global has learned.

Editor: Ben Armour

ZHANG YUSHUO

(Yicai Global) July 13 — Chinese tech titan Tencent Holdings is in talks with and has signed a framework agreement to buy out and take gaming firm Leyou Technologies Holdings private, Leyou announced. Its shares rose 3.11 percent to HKD2.99 (39 US cents) as of 11:00 on the news.

Tencent, which is China’s largest video game developer, edged out its rivals, including Japan’s Sony, to secure the right of first refusal for the acquisition, Hong Kong-based Leyou said in a statement it released on July 10.

The buyout may go through, per the statement, which omitted financial details, and hedged with the caveat no certainty exists any agreement will ultimately eventuate. The exclusive option agreement the two signed is, however, valid for three months, Leyou said.

Editor: Ben Armour

LIAO SHUMIN

(Yicai Global) July 10 — As China deals with weeks of heavy rainfall, flooding in southern parts of the country has affected 30.2 million people and caused a direct economic loss of CNY61.8 billion (USD8.8 billion) as of yesterday afternoon, according to official data.

Editor: Emmi Laine

Yicai Global 第一财经

Bringing you the latest on business, finance, economy, IT and TMT in China, plus minute-by-minute stock market updates @chinastock. 中国最大财经媒体第一财经英文资讯服务的官方账号

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