So, what’s up in China? 🇨🇳 Issue 130, covering 24 – 30 May.

1. A growing number of Chinese tech start-ups are willing to list shares publicly in China at valuations lower than during private funding rounds. (Reuters)

2. Guangdong to be China’s data hub? China’s first conference supporting its new mega data project kicked off over the weekend in Shaoguan, a prefecture-level city in the north of southern Guangdong province. (South China Morning Post)

3. Cloud tourism offers a convenient substitute for sightseers in China. Data shows that 250 million people took a virtual tour via livestream during the five-day May Day Holiday earlier this month. (China Daily)

4. Shanghai launched an action plan to speed up economic recovery. The 50-point package of policy items covers measures in 8 sectors, mainly about reducing pressure on business, supporting and maintaining the order of reopening, and encouraging consumption. (CGTN)

5. iQiyi is now making profitability its top priority. CEO Gong Yu believes the company can maintain a profit by pursuing top-notch content to retain paid viewers, while cutting back production and marketing costs on less popular shows. (Bloomberg)

6. Cloud businesses a growth point for Big Tech? Cloud services have become the bedrock of almost all tech firms, as it offers fundamental support for online services and the implementation of algorithms. (Technode)

7. More supervision on China’s blockchain info services. The Cyberspace Administration of China released the names and record numbers of the eighth batch of registered domestic blockchain information service providers, including 106 new entities. (Pandaliy)

8. KFC China introduced new Pokemon toys to its kids’ meals to celebrate Children’s Day on June 1. The Psyduck toy became a viral sensation on the Chinese internet for its dance moves. The hashtag for the Pokemon toys trended on Weibo and clocked up more than 25 million views. (Radii China)

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