More than 400,000 5G base stations built

CHINA’S three main telecommunications operators have built more than 400,000 5G base stations by the end of June 2020, the country’s Ministry of Industry and Information Technology (MIIT) told a press briefing Thursday.

The figure marks an increase from the 130,000 5G base stations constructed in 2019. The ministry has said in the past it expects to have built over 600,000 5G base stations in total by the end of 2020. At the press briefing, MIIT Vice Minister Xin Guobin also said China will support infrastructure for battery swapping service for electric vehicles.

Cisco awaits nod on Acacia takeover deal

NETWORK gear maker Cisco Systems Inc. and Acacia Communications Inc. said Wednesday China was yet to approve their proposed acquisition deal, already cleared by the United States, Germany and Austria.

The acquisition has been under regulatory review from China’s State Administration for Market Regulation, the only remaining closing condition of the deal, the companies said. The US$2.84 billion deal was expected to close during the second half of Cisco’s full-year 2020. Last July, Cisco said it would buy optical component maker Acacia in a bid to capture a bigger chunk of 5G spending by telecom companies.

Didi launches cheaper ride-hailing service

DIDI Chuxing said Wednesday it has launched a new standalone ride-hailing service that targets younger customers and offers cheaper rides compared with its main app.

Didi said in a statement the new service is named “Huaxiaozhu” and that it has already been launched in some cities in China’s southwestern province of Guizhou and the eastern province of Shandong. The new service is not embedded in Didi’s existing platform. “Huaxiaozhu” has a separate app with a logo that looks like a money pot.

Tesla cuts deposit for customers to US$143

TESLA Inc. has lowered the deposit that buyers in China have to put down on its cars, seeking to keep sales momentum in the face of intensifying competition.

Tesla now requires a 1,000 yuan (US$143) non-refundable deposit for the Model 3 sedan, Model X SUV and Model S vehicle, a company representative in China said Wednesday. Buyers were previously asked to pay a refundable deposit of 20,000 yuan.