So, what’s up in China? 🇨🇳 Issue 71, covering 29 March – 4 April.

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 Shenzhen Xunlian Zhifu Network. (Kr Asia)

4. Xiaomi invests US$1.5 billion in fully owned electric vehicle business. (Technode)

5. China will launch a nationwide carbon trading market in Shanghai by June. (Tech in Asia)

6. China’s Central bank is allowing select Hong Kong residents to use digital RMB to make payments across borders. (Asia Nikkei)

7. Didi Chuxing’s autonomous driving unit seeks funds at US$6 billion value. (SCMP)

8. JD Technology withdraws IPO application in Shanghai amid China’s fintech rule changes. (SCMP)

9. China expects nearly 50 million railway trips during Tomb Sweeping Day holiday this week. (China Daily)

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