So, what’s up in China? 🇨🇳 Issue 64, covering 8 – 14 February.
- Total sales volume during CNY has surged 81% YoY on Pinduoduo. For GenZ and millennial users, fitness kits, pet wear, and books were top best-sellers (pandaily)
- Huawei is seeking approval from authorities to acquire licensed digital payment provider Xunlian Zhifu (TechNode)
- China now has 5 million “wealthy families” with at least 6 million RMB assets (China Internet Watch)
- Bilibili faces accusations of promoting inappropriate sexualized content (KrASIA)
- Kuaishou will give a CNY bonus of 100 shares (around USD 4,447) for each of its regular employees (KrASIA)
- Tmall Global offers “nursery service” for brands entering China. One-to-one assistance will guide them through the process of launching a store on Tmall and how the platform operates (DAO Insights)
- China’s central bank has partnered with SWIFT to set up a joint venture (VOA News)
- Railway journeys in China during this CNY travel rush are down by almost 70% YoY (Bloomberg)
- China bans BBC World News from airwaves (Asia Nikkei)
- In China pandemic pushes births down 15% (Asia Nikkei)
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