China Roundup: JD Logistics invests $155m to halve carbon emissions, and more

JD Logistics invests US$155 million to halve carbon emissions

• JD Logistics will invest nearly US$155 million into its green supply chain project in a bid to halve its carbon emissions by 2030.
• The company said it expects its carbon efficiency to increase by 35% within five years.
• The logistics firm also announced a new version of its autonomous delivery vehicle, which can run amid rain and fog. It can also be managed, tracked, and fixed remotely.

China to ask Tencent, ByteDance to open content to search

• China is reportedly looking to ask media firms such as Tencent and ByteDance to let search engines such as Baidu access and display their content in their results.
• The move comes on the background of large walls on tech platforms in China, forcing their customers to stick within their own ecosystem by blocking their rivals’ products.
• In July, Alibaba and Tencent supposedly considered opening up their services to one another as Beijing’s tech crackdown made it harder for them to maintain virtual barriers.

Sequoia leads US$78 million round in healthtech firm MagAssist

• Cenova Capital and CDH Innovation and Growth Fund also took part in the financing round.
• The new funds will be primarily used for the company’s research and development, clinical trials, and expansion of production.
• MagAssist aims to build a life support platform for multiple organ failure. The firm previously received funding from investors such as Guoqian Venture Capital, Northern Light Venture Capital, Med-Fine Capital, TigerYeah Capital, and SND Financial Holdings.

China to increase scrutiny on internet giants

• China’s tech regulator said it will push through with “targeted measures” to promote a fair and orderly market environment.
• The country’s current campaign aims to address issues such as poor data security practices, personalized services being forced on users, and blocked or restricted access to competing products.
• China has implemented a series of crackdowns this year against monopolistic practices and unfair competition among the country’s tech firms. For instance, tech titan Alibaba and food delivery giant Meituan were slapped with fines following antitrust probes.