So, what’s up in China? 🇨🇳 Issue 69, covering 15 – 21 March.

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. (China Daily)

3. Alibaba plans to launch a WeChat Mini Program for Taobao Special Offer and will soon enable WeChat Pay. (China Internet Watch)

4. China’s market regulator introduced a new set of e-commerce laws covering livestreamed sales, user data privacy and forced exclusivity.(Technode)

5. Baidu became the first Chinese company with permission to offer robotaxi rides to paying customers. (Technode)

6. Weibo’s monthly active users reached 521 million in December 2020, a net addition of approximately 5 million users. (China Internet Watch)

7. China plans a 47% expansion of its national expressway system by 2035. (Asia Nikkei)

8. Two major Chinese state banks in Beijing and Suzhou have started opening e-CNY merchant and enterprise accounts for businesses. (Technode)

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