Source:Comms8 blog The pandemic has propelled contactless and cashless transactions in Asia at warp speed, paving the way for virtual banks. Fintech News showed that approximately 16% of Hong Kongese currently have a virtual bank account, while 12% of Hong Kongese are planning to open one in the next 5…

Source: Comms8 blog Users of Douyin, which accumulated 600 million daily active users, previously could use Alibaba’s Alipay and Tencent ‘s WeChat Pay to buy virtual gifts for live-streamers or goods from shops on the platform. Recently, ByteDance launched its own third-party payment service for Douyin, the Chinese version of…

Source: Comms8 blog Chinese internet giant Tencent is aggressively stepping up its presence in the cloud computing industry in SE Asia this year. Last month, Tencent unveiled a new data centre in Jakarta, its first in Indonesia, with another one set to go online in a few months. Besides, Huawei…

Source : Comms8blog Cloud computing in Asia has significantly pivoted to the next stage where the demand for cloud deployment models has risen and moved from simple back-end functions to core business processes. …

Source: Comms8 blog The Chinese female-targeted market, the so-called she economy, is expected to expand into more sectors in the post-pandemic era. According to CBNData, the female consumer market in China exceeded USD 1.5 trillion in 2020. In terms of e-commerce sector, Tmall reported that 80% of the new leading…

Source: Comms8 blog Xiaohongshu, the popular social commerce platform in China, is eyeing an IPO in the US as soon as this year and has recently hired Citigroup’s former Hong Kong–based Managing Director as Chief Financial Officer, as part of the preparation for the listing. …

Source: Comms8 blog Due to global chip shortage, many Chinese tech companies have begun to work on their self-designed chip. TikTok-owner ByteDance is making plans to develop semiconductors. The plan is still at an early stage and the company’s focus is on ARM-based server-side chips, according to Reuters. Beijing-based ByteDance…

Source: Comms8 blog Asian carmakers have been hit hard by a global chip shortage. Chinese electric car start-up NIO, for example, is shutting a factory for 5 days due to the global shortage of semiconductors, according to the company’s announcement last week. …

Source : Comms8 blog As reported by Tech Wire Asia, the Asia Pacific is the world’s biggest market for semiconductors, accounting for 60% of global semiconductor sales, with China alone accounting for over 30%. …