China News

1. China will deliver 550 billion yuan (US$84 billion) in tax cuts to help support the economy’s recovery. (Bloomberg) 2. The number of online payment users in China exceeded 854 million in 2020. (China Internet Watch) 3. Huawei has gained a mobile payment license in China after buying Shenz...

1. E-commerce GMV on Kuaishou grew by 314% in Q4 2020, MAU reached 476 million. (China Internet Watch) 2. Alibaba Cloud officially launched its first personal cloud product, called the Alibaba Cloud Disk. (Pandaily) 3. China’s top antitrust regulator is looking into WeChat for monopolistic p...

1. Pinduoduo surpassed 788.4 million active buyers, edging out Alibaba’s 779 million for the first time. The average annual spend per buyer on PDD grew 23% YoY to RMB 2,115 (USD 324.2) in Q4 2020. (Kr Asia) 2. China has banned micro lenders from granting consumer loans to university students. (...

1. JD’s annual active buyers increased by 30% to 471.9 million in 2020. More than 80% of the new customers came from lower-tier cities. JD’s 2020 revenue US$ 114.3 billion. (Kr Asia) 2. China has debuted a "coronavirus vaccine passport" (Nikkei Asia) 3. China’s National Committee has pro...

China aims for 2021 GDP growth above 6% (Bloomberg)ByteDance is developing Clubhouse-like app for China (Reuters)Mobile phone subscribers in China reached 1.59 billion in 2020 (China Internet Watch)Pinduoduo doubles agricultural GMV to record 270 billion RMB in 2020 (Pinduoduo)Kuaishou launches 1 bi...