Zhang Yiming

China’s second-richest man demands apology from ByteDance founder over online attacks

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China’s second-richest man demands apology from ByteDance founder over online attacks

China’s second-wealthiest man on Wednesday made a surprise demand that the country’s richest man, founder of ByteDance, apologise for the perceived role that TikTok’s Chinese sibling Douyin has played in “spreading rumours and misinformation”. Zhong Shanshan, 69 – founder and chairman of China’s largest packaged drinks company Nongfu Spring and the country’s second-richest person, according … Read more

TikTok CEO vows to earn global trust, as app challenges US ban

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TikTok CEO vows to earn global trust, as app challenges US ban

TikTok, the Chinese-owned short-video app fighting a ban in the US, is determined to earn trust in every market where it operates, CEO Chew Shou Zi said at a summit in Saudi Arabia’s capital city. As the social media industry faces more questions, “earning trust locally … is going to be a big challenge for … Read more

ByteDance’s low profile founders donate US$28 million to alma mater Nankai University

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ByteDance’s low profile founders donate US million to alma mater Nankai University

The billionaire co-founders of TikTok owner ByteDance, Zhang Yiming and Liang Rubo, have made a joint donation to their alma mater Nankai University, in a rare public move by the young entrepreneurs who have kept a low profile in recent years. Zhang and Liang, both alumni from the class of 2001, jointly donated 200 million … Read more

PDD Holdings’ Colin Huang and ByteDance’s Zhang Yiming top China’s tech rich list

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PDD Holdings’ Colin Huang and ByteDance’s Zhang Yiming top China’s tech rich list

Colin Huang Zheng, the 44-year-old founder of PDD Holdings, and Zhang Yiming, the 41-year-old founder of ByteDance, are the richest tech entrepreneurs in China, according to a list published by Chinese magazine New Fortune on Wednesday. Huang, whose wealth is largely derived from the popularity of budget e-commerce platforms Pinduoduo and Temu, has a personal … Read more

ByteDance rejects US report about its purported plan since 2022 to divest TikTok’s operations in America

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ByteDance rejects US report about its purported plan since 2022 to divest TikTok’s operations in America

TikTok owner ByteDance has again denied that it considered divesting the US operations of its popular short video platform, in response to a report by The Washington Post on Wednesday that such a plan existed in 2022. In a brief statement on Thursday, Beijing-based ByteDance called on Chinese social media not to spread such misinformation … Read more

TikTok owner ByteDance earns praise from Chinese social media for rejecting US sell-or-ban ultimatum

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TikTok owner ByteDance earns praise from Chinese social media for rejecting US sell-or-ban ultimatum

Beijing-based ByteDance late on Thursday rejected a report by US digital publication The Information, which said that it was “exploring scenarios” to sell a majority stake in TikTok’s US operations to firms outside the technology industry and without the algorithm that powers the platform. In a statement posted on its Jinri Toutiao news platform, ByteDance … Read more

TikTok owner ByteDance’s ‘AI homework helper’ Gauth soars in US education apps market despite political headwinds

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TikTok owner ByteDance’s ‘AI homework helper’ Gauth soars in US education apps market despite political headwinds

A screenshot of the landing page for Gauth: AI Study Companion on Apple’s App Store. Photo: SCMP In July 2021, the General Office of the Chinese Communist Party and the State Council banned private tutoring firms from making a profit via off-campus courses covering school curricula. Listed companies and overseas entities were also barred from … Read more

TikTok owner ByteDance accelerates generative AI efforts with increased talent acquisition, release of new tools

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TikTok owner ByteDance accelerates generative AI efforts with increased talent acquisition, release of new tools

Beijing-based ByteDance’s website listed more than 320 GenAI-related job openings as of Tuesday, up from 307 vacancies posted a month earlier, according to a search conducted by the South China Morning Post. A specific search for jobs in the development of large language models (LLMs) – the technology used to train ChatGPT and similar GenAI … Read more

TikTok owner ByteDance stays hands-off as video app faces US ban, leaving local team to become more aggressive

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TikTok owner ByteDance stays hands-off as video app faces US ban, leaving local team to become more aggressive

The Chinese parent of TikTok has kept a safe distance from the troubles facing its short video app in the US, leaving the response to the local team and Singaporean CEO Chew Shou Zi as they face a possible legal battle against a forced sale or a ban, according to people briefed on the matter. … Read more

Chinese social media platform Weibo removes fake images showing a rapidly ageing Tencent founder Pony Ma

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Chinese social media platform Weibo removes fake images showing a rapidly ageing Tencent founder Pony Ma

Chinese social media platform Weibo has deleted a number of accounts publishing and spreading a retouched photo of a grey-haired and wrinkle-faced Pony Ma Huateng, Tencent Holdings’ founder and CEO, in the latest example of efforts to protect the country’s top entrepreneurs from online abuse. “A small number of users posted and hyped up false … Read more