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The e-commerce firm will leverage Microsoft’s expertise in building a resilient cloud infrastructure to support Bukalapak’s services for more than 100 million customers.

China’s Venture Roundup Volume 8 covers China’s investment activity from 18 – 25 October 2020

The app will enable users to pay utility bills, recharge mobile credit, make P2P transfers to other Tag users or any bank account in Pakistan, and keep an eye on their spending.

Only USD 2.8 billion was being transferred through formal remittance channels last year, with around USD 5.2 billion being left out every year.

Flipkart’s payment arm PhonePe emerged as the top UPI payment destination.

In the USD 4.3 billion cloud infrastructure enterprise market in China, Baidu took an 8% share in the second quarter of this year, lagging far behind Alibaba at 40.1%.

Sales of new energy vehicles in China is expected to reach 20% of total car sales by the end of 2025, the state council says.

SoftBank’s investment vehicle steps away from winner-takes-all playbook.

While ByteDance’s health business is still at an early stage, Alibaba and JD.com have already secured a firmer foothold in the sector.

A Biden administration could prompt a US-led coalition that heaps even more pressure on Chinese tech firms.