So, what’s up in China? 🇨🇳 Issue 62, covering 25 – 31 January.
- 85% of Chinese have no travel plans for Spring Festival (China Daily)
- China’s 3 biggest airlines China Southern Airlines, China Eastern Airlines and Air China estimate net losses for 2020 to reach 31.2 – 38.8 billion RMB (Asia Nikkei)
- Alipay, JD Digits, and Didi Finance have completely removed all interest-bearing time deposit products from their apps (TechNode)
- ByteDance’s revenue doubled to US$ 37 billion in 2020 (Tech in Asia)
- Kuaishou raised US$ 5.4 Billion in Hong Kong IPO (Bloomberg)
- Xi Jinping calls for intellectual property protection, to transform China from being a big importer of IP to a big inventor of IP (CGTN)
- Morgan Stanley analysts predict that by 2030, China’s private consumption is set to more than double to reach US$ 12.7 trillion. Disposable income per capita will likely double from US$6,000 a year to US$12,000 (CNBC)
- A new law in China could soon make it illegal for parents to hit their children (ink stone news)
- Didi’s move to logistics, Didi Huoyun, is to collect US$ 1.5 billion in first round (TechNode)
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