Reclusive gaming billionaire to set up neuroscience university – China’s latest business and technology news

Chen Tianqiao 陈天桥 is the founder of gaming company Shanda, which made him a billionaire at the age of 30. Bloomberg has published an interesting profile of him, which notes that he was “more prominent than Alibaba’s Jack Ma for much of the last decade — then he disappeared… dropping out of public view almost completely.” Chen now intends to set up a university in the U.S. based on what Bloomberg calls a concept that “is unusual to say the least: It will bring together academics in everything from neuroscience, biology and psychiatry to philosophy and divinity studies, and encourage them to work together.”

• Tencent
  Tencent posts record results on smash hits, social networks / Caixin
  Tencent to boost AI after profit jumps on mobile games, WeChat / Reuters
  A Chinese video game rakes in cash — and draws young rule breakers / NYT (paywall)
• State-owned enterprises
  State-owned China Unicom to raise $12 billion from Alibaba, Tencent, others / Reuters
• Debt
  China has got to fix its debt problem, the IMF says / CNBC
• Education tech companies
  A battle of words surfaces as Zuoyebang accused of posting ‘obscene material’ on competitor’s platform / TechNode
• Foreign exchange reserves
  China returns to top of list of U.S. government creditors / FT (paywall)
• Belt and Road
  China’s Belt and Road acquisitions surge despite outbound capital crackdown / Reuters
  China’s crackdown hasn’t ended its giant foreign buying spree / Bloomberg
• Pyramid schemes
  Alleged job-recruiting scams in China turn deadly / Caixin