China Weekly News

Ashley's weekly digest 86
1. Alibaba and Tencent are considering moves to gradually open up their services to one another. 😱👍💪 Initial steps from Alibaba could include introducing Tencent’s WeChat Pay to Alibaba’s e-commerce marketplaces, Taobao and Tmall. (The Wall Street Journal) 2. Xiaomi surpasses Apple t...
Weekly News Digest 85
1. China’s top market regulator bans merger of Tencent’s video game streamers Huya and DouYu. (Pan Daily) 2. Tencent launches facial recognition function to regulate minors’ time spent gaming. (Kr Asia) 3. ByteDance announced last Friday that it will cancel weekend work days. 🤔✌️...
1. Kuaishou will cut its Sunday workdays amid 996 backlash. ✊ (Technode) 2. Chinese authorities have rolled out fresh measures to cut fees on transactions and payment services.The fee reduction measures are expected to reduce the annual fee expenditure for market players and the public by about...
1. China aims to become a global leader in blockchain by 2025. (Bloomberg) 2. 60% of European companies plan to expand operations in China in 2021. (Technode) 3. China will test income redistribution reforms in Zhejiang, which will become a pilot zone for policies to promote “common prosperi...
1. Tmall kicked off 618 Shopping Festival on 24 May. This year discounts will start on 1 June. (China Internet Watch) 2. Pinduoduo highlights for Q1 2021. Average monthly active users 724.6 million, an increase of 49% YoY. 📱Pinduoduo’s total revenues in Q1 were RMB22,167 million (US$13,383 m...
1. Tencent Q1 highlights. Revenues up 25% to RMB 135.3 billion. WeChat MAU up 3.3% YoY to reach 1,241 billion users. (China Internet Watch) 2. JD’s Q1 highlights. Net revenue for Q1 RMB 203.2 billion. Annual customers grew 29% to 500 million. (China Internet Watch) 3. Baidu Q1 highlights. Re...
1. Alibaba posts first operating loss as a public company. (CNBC) 2. Alibaba’s annual active consumers on its China retail marketplaces reached 811 million for the year ended March 31. Online physical goods GMV, excluding unpaid orders, grew 33% YoY in Q1. (China Internet Watch) 3. Bilibili...
1. About 230 million domestic trips were made over the 5-day May holiday — a rise of 119.7 % YOY. (China Daily) 2. China starts testing digital yuan in villages. (SupChina) 3. China’s online retail sales increased 29.9% in Q1 2021. (Dao Insights) 4. Suning’s rolling out New Retail. It...
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