So, what’s up in China? 🇨🇳 Issue 56, covering 14 – 20 December.
- Pinduoduo launched its own payment platform, Duoduo Wallet. (China Internet Watch)
- China’s leadership plans to set its real economic growth target at about 8% for 2021 (Asia Nikkei)
- JD Partners with NVIDIA to build world’s first smart city with smart deliveries (pandaily)
- Chinese companies raised record-breaking amount of money in global IPOs in 2020, US$ 129 billion (KrASIA)
- 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)
- Luckin Coffee agreed to pay a US$ 180 million (1.17 billion RMB) penalty for previous charges concerning the company’s fabricated transactions (pandaily)
- Didi launched “Didi monthly payment”, credit payment product (Equal Ocean)
- 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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