So, what’s up in China? 🇨🇳 Issue 56, covering 14 – 20 December.

  1. Pinduoduo launched its own payment platform, Duoduo Wallet. (China Internet Watch)
  2. China’s leadership plans to set its real economic growth target at about 8% for 2021 (Asia Nikkei)
  3. JD Partners with NVIDIA to build world’s first smart city with smart deliveries (pandaily)
  4. Chinese companies raised record-breaking amount of money in global IPOs in 2020, US$ 129 billion (KrASIA)
  5. Chinese regulators imposed antitrust-related fines (500K RMB) on 3 acquisition deals involving Alibaba, Tencent, and SF Express, in a sign of increasing concern about monopolistic behavior by internet giants (TechNode)
  6. Luckin Coffee agreed to pay a US$ 180 million (1.17 billion RMB) penalty for previous charges concerning the company’s fabricated transactions (pandaily)
  7. Didi launched “Didi monthly payment”, credit payment product (Equal Ocean)
  8. The Shanghai Consumer Council has called out WeChat for making it difficult for users to turn off personalised advertising or dismiss individual ads (SCMP)

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