1. China’s digital economy was worth over 45 trillion yuan ($6.72 trillion) in 2021. Accounting for 39.8% of GDP, China’s digital economy has grown rapidly and ranked second in the world for several years. (CGTN)
2. China’s tech stocks the most attractive in the world? The long slump is reversing as loose monetary policy and an improving growth outlook outweighs concerns about the country’s covid zero policy. (Bloomberg)
3. China’s tech giants promise speculation-free NFTs! The China Cultural Industry Association, along with Chinese tech giants, jointly issued a “self-disciplined development proposal” for the “digital collectible industry”. (TechChurch)
4. Chinese regulators warn of online scams amid growing number of counterfeit financial services apps. The Cyberspace Administration of China said that it has removed 42,000 of these counterfeit apps since the start of this year. (South China Morning Post)
5. Nayuki launched its campaign to celebrate the first anniversary of its IPO by giving away virtual shares for every tea drink. Users are able to earn one Nayuki coin for every 1 yuan spent and become a virtual shareholder by buying/selling virtual shares with the company’s coins. (Pandaily)
6. Domestic travel demand is expected to rebound from the months-long impact of the resurgence of local covid cases. With the opening up of interprovincial travel and growing demand in summer, the domestic travel market is reaching an upward point of inflection. (China Daily)
7. Alibaba has been expediting the hype of NFT-powered technologies at full speed with Tmall launching a new zone dedicated to digital collectibles on its mobile app. More than 50 virtual collections from a total of 40 brands have debuted in the first round of issues. (Dao insights)
8. Bilibili shut down its short video app, Qing Video. Launched in 2018, Qing Video was intended to be a short video platform to rival Douyin, incorporating Bilibili’s famous “bullet comments” feature, live lines of users’ comments that shoot across the screen. (Technode)
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