So, what’s up in China? 🇨🇳 Issue 86, covering 12 – 18 July.

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 to become the world’s 2nd largest smartphone brand. (Kr Asia)

3. China’s digital yuan trials racked up 34.5 billion yuan ($5.34 billion) in 6 months. (Nikkei Asia)

4. China’s GDP growth in Q2 slows to 7.9%. (Nikkei Asia)

5. China’s giant carbon market begins trading. The market now involves over 2,000 companies in the power generation sector, and it will be extended to further include another 7 major carbon-emitting industries. 🪴 (China Daily)

6. Douyin recently set up a team for a food delivery business, launching an internal test of a mini-program named “Xindong Waimai”. (Pan Daily)

7. Tencent buys over 11 million shares in Meituan, raising nearly US$400 million and acquiring a 17.2% stake in the firm. (Pan Daily)

8. Alibaba’s Taobao and Alipay cancel advertisements displayed while starting the app. 🥳👌 (Pan Daily)

9. Seven Chinese ministries, including the Cyberspace Administration of China (CAC), the public security ministry and the national security ministry, entered Didi Chuxing’s offices on Friday to conduct the country’s first-ever cybersecurity review. (SCMP)

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