So, What’s Up in China? 🇨🇳 Issue 158, Covering 6 Dec – 12 Dec

1. CNY travel bookings. China has adopted additional pandemic control measures on Dec 7, reducing travel restrictions and increasing ticket search volume. Flight searches on CNY eve reached their highest point in 3 years on Trip at 160%. (Pandaily)

2. China stocks climbing again? The relaxing of zero-Covid policy has boosted China’s benchmark stocks since October.  This being said, the value of China’s top companies fell more than 50% in the past year amid a weak economy and tech regulations, with Alibaba, Xiaomi, and Tencent down 71%, 67%, and 62% respectively. (Forbes)

3. China’s FMCG market remains resilient. The sector grew by 3.6% yearly during the first three quarters of 2022. (CGTN)

4. NetEase to develop smart robots for China’s construction industry. NetEase will use AI and human-computer interaction design to make construction work like playing video games. (SCMP)

5. Hainan to further build up its tourism credentials. Hainan has created 117 key projects to turn Sanya into a national leading tourist destination with great international influence by 2025 with an investment of about 138.5 billion yuan ($19.8 billion). (China Daily)

6. Digital collections recognised in China law? A Chinese court in Hangzhou has recognised non-fungible token (NFT) collections as online virtual property that should be protected under Chinese law. (Dao Insights)

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