1. Chinese still love hip-hop? This year’s Super Bowl halftime show proved to be popular in China as the performance was viewed more than 3.6 million times on Tencent Video. (RADII)
2. Alibaba is launching a new online platform running a direct sales model, similar to JD’s. The new platform will first focus on consumer electronics.
3. China’s National Development and Reform Commission and other departments issued new guidelines, asking food delivery platforms to cut fees for restaurants. Meituan‘s share price has fallen to its lowest point since July 2020. (Pandaily)
4. Sports tutoring is booming in China. ?️♀️ Tianyancha reports that more than 33,000 sports and art tutoring companies were newly added after China’s regulation on the after-school tutoring sector in July, a staggering increase of 99% YoY. (China daily)
5. China’s very own metaverse? The China Mobile Communications Association’s metaverse committee now has a total of 112 companies or individuals in an industry body designed to develop the country’s metaverse applications. (CNBC)
6. Digital China coming sooner? China has approved a project to build 8 national integrated computing hubs with 10 data centre clusters across the country, in a bid to improve computing capacity and better empower the country’s digital development. (CGTN)
7. More content for Tencent. Tencent has entered into a RMB 1.8 billion ($284 million) deal with Beijing Jetsen Technology, China’s largest film copyright holder, to purchase the streaming rights to 6,332 films and TV shows. (South China Morning Post)
8. Chinese luxury lovers are still going strong. Louis Vuitton announces a price hike on products such as Mini Pochette Accessoires which jumped a whopping 54% in price. Consumers were seen lining up in droves at LV stores after the announcement. (Jing Daily)
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