Tech

The amount Meituan was fined was lower than analysts expected and also lower than the amount fined to e-commerce giant Alibaba.

Alibaba has launched the "Ten Actions to Promote Common Prosperity" and will set up a special permanent institution for this purpose.

Honor, which was spun off from Huawei late last year, said on Monday it opened its global headquarters in Shenzhen.

Meituan's revenue rose 77 percent year-over-year to RMB 43.76 billion ($6.77 billion) in the second quarter, with a net loss of RMB 3.36 billion.

Chinese VR startup Pico has confirmed in an all-staff letter that it has been acquired by Beijing-based TikTok parent company ByteDance, jiemian.com reported Sunday.

China's IC imports rose 27.2 percent year-over-year to $233.33 billion from January to July 2021, up 42.1 percent year-over-year, according to China Customs.

ByteDance has not yet confirmed the news, and if true, the move appears to be similar to Facebook's acquisition of Oculus in 2014.

Vivo's first chip will be a professional imaging chip called V1, which has already been mass-produced and will be installed in Vivo's new flagship X70 series.

Tianjin will support the R&D and application of technologies including integrated chip for perception and computing, 5G RF front-end module, blockchain technology and support system, and quantum technology.

Huawei's R&D spending reached RMB 141.8 billion ($21.89 billion) in fiscal 2020, about 9 times that of fiscal 2010.