So, what’s up in China? 🇨🇳 Issue 120, covering 15 – 21 March.

1. Chinese authorities are considering requiring Tencent to include WeChat Pay in a newly created financial holding company. (Bloomberg)

2. More tech centers in China. Mercedes-Benz said last Friday it has opened an R&D center in Shanghai that will focus on mobility technology. (Nikkei Asia)

3. Second-hand goods are thriving. Douyin has launched a new channel on the platform’s marketplace, which is dedicated to services including product resales and live streaming sessions promoting second-hand items. (Dao insights)

4. Tencent Video is now attempting to motivate content creators through user traffic and cash subsidies, after announcing that it would hand out 2 million yuan ($314,144) in cash subsidies throughout the year last month.
(Pandaily)

5. Kuaishou is going global. Kuaishou is making its overseas business a priority, as confirmed during an all-hands meeting of its international business department on Thursday. (Technode)

6. China’s “regulatory storm” may soon subside for Big Tech firms after Chinese Vice-Premier Liu He calls for order and transparency. China’s CSI 300 Index has since risen more than 4%, while the Hang Seng Index closed up 9.09%. (South China Morning Post)

7. But meanwhile more regulatory actions. Companies engaged in online gaming, live streaming, audio and video content in China should set up a “youth mode” to protect minors. (CGTN)

8. Wuhan has vowed to create a 100 billion yuan ($15.7 billion) space industry by 2025 and become China’s “valley of satellites”, joining other cities tasked with developing the sector. (Reuters)

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