So, what’s up in China? 🇨🇳 Issue 63, covering 1 – 7 February.
- Two weeks after the launch of a national CNY shopping festival on Jan 20, online retail sales reached RMB 510 billion (USD 78 billion) (KrASIA)
- Alibaba Group’s Youku, iQIYI and Tencent Holding’s Tencent Video announced their cooperation in launching the first online cinema project during China’s Lunar New Year holidays (pandaily)
- The number of brands and merchants on Tmall Global grew 60% in 2020 (China Internet Watch)
- Luckin Coffee files for bankruptcy in the US (TechNode)
- Douyin is suing Tencent for monopolistic behaviour including blocking Douyin’s content on its WeChat and QQ apps (TechNode)
- Tencent has launched an early version of a separate portal within WeChat to centralise various mini programs (KrASIA)
- Chinese authorities have banned the use of mobile phones in schools (SCMP)
- Alibaba Group announces revenue of US$ 33.9 Billion, while Taobao Live generated over RMB 400 billion in GMV in 2020 (pandaily and China Internet Watch)
- China issues another set of anti-monopoly rules targeting its tech giants (Reuters)
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