So, what’s up in China? 🇨🇳 Issue 118, covering 22 February – 7 March.

1. Robotaxis in China. Baidu is now authorized to provide paid robotaxi services in Yangquan, Shanxi. The service includes over 30 pickup and drop-off points in government departments, residential areas and high-tech industrial parks at the initial stage. (China Daily)

2. Chinese gaming going global. NetEase plans to seek further partnerships with Microsoft and Activision Blizzard. The company has a 17.5% share of the Chinese gaming market. (Technode)

3. Less taxes. China will cut taxes this year, while focusing on supporting the nation’s tech development.(CNBC)

4. High-tech zones are winning. China’s high-tech zones are contributing about 13% of the country’s GDP with only 0.1% of its land area. (CGTN)

5. Alibaba Cloud’s revenue totalled 19.54 billion yuan, up 20% from a year earlier. This segment contributed 8% to the group’s overall revenue of 242.58 billion yuan last quarter. (South China Morning Post)

6. Meituan will cut 50% of the tech service fee for SMEs in pandemic-affected areas whose daily average user transaction volume has dropped by more than 30%. (Bloomberg)

7. Tencent has publicly invested 1,175 times in 925 projects in the recent 10 years, totalling more than 1.27 trillion yuan ($202 billion). (Pandaily)

8. China announced a GDP growth target of “around 5.5%” for 2022. (CNBC)

9. China’s imports and exports are on the rise. In the first two months of 2022, China’s total imports and exports surged 13.3% you to 6.2 trillion yuan. (CGTN)

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