Spotlight Monday
Anti-Trust Regulations
1️⃣ Market regulators have recently announced the largest batch of antitrust punishment, where tech giants such as Alibaba, Didi Chuxing and Tencent were each fined💰US$77,350 over 22 investment deals.
2️⃣ Market regulators blocked Tencent's plan to merge the two biggest Chinese video game livestreaming platforms 🎮📹: Huya and Douyu (worth a combined US$5.3 billion in market value).
Alibaba
3️⃣ To ramp up competition with Meituan, Alibaba has restructured its operations to form a life services division. The new division includes digital mapping platform AutoNavi 🗺, online travel business Fliggy ✈️, and local services platforms Ele.me and Koubei 🏪.
ByteDance
4️⃣ ByteDance plans to bring back its social app, Feiliao 💬, an instant audio messaging platform that has been removed from the Chinese app store.
Didi Chuxing
5️⃣ After being pulled from app stores📱, Alipay and WeChat have also temporarily closed Didi Chuxing's mini-program to new users in China 🇨🇳.
Xiaomi
6️⃣ Xiaomi has recently acquired DeepMotion, an autonomous driving technology company 🚗🚙.
Anti-Trust Regulations
1️⃣ Market regulators have recently announced the largest batch of antitrust punishment, where tech giants such as Alibaba, Didi Chuxing and Tencent were each fined💰US$77,350 over 22 investment deals.
2️⃣ Market regulators blocked Tencent's plan to merge the two biggest Chinese video game livestreaming platforms 🎮📹: Huya and Douyu (worth a combined US$5.3 billion in market value).
Alibaba
3️⃣ To ramp up competition with Meituan, Alibaba has restructured its operations to form a life services division. The new division includes digital mapping platform AutoNavi 🗺, online travel business Fliggy ✈️, and local services platforms Ele.me and Koubei 🏪.
ByteDance
4️⃣ ByteDance plans to bring back its social app, Feiliao 💬, an instant audio messaging platform that has been removed from the Chinese app store.
Didi Chuxing
5️⃣ After being pulled from app stores📱, Alipay and WeChat have also temporarily closed Didi Chuxing's mini-program to new users in China 🇨🇳.
Xiaomi
6️⃣ Xiaomi has recently acquired DeepMotion, an autonomous driving technology company 🚗🚙.
Spotlight Monday
ByteDance
1️⃣ ByteDance is testing a new food delivery feature 🥗🥪🛵, Xindong Waimai, in its Douyin app.
2️⃣ ByteDance Volcano Engine's 🌋 translation team debuts its "simultaneous translation" system, clinching first place in an international machine translation competition 🌏. The new system aims to expedite the translation process by ten times.
Meituan
3️⃣ Meituan plans to downscale its mobile power bank rental service📱. 👤Gao Cheng, head of the rental service division, has resigned. Staff under this division are relocated to Meituan Youxuan, a community grocery division.
4️⃣ Meituan relaunched its ride-hailing app 🚕🚖, Meituan Dache, three years after removing it from China's app store.
Tencent
5️⃣ Tencent has posted several computer chip R&D positions on its official recruitment website 💻🖥, making headway into chip R&D and design.
ByteDance
1️⃣ ByteDance is testing a new food delivery feature 🥗🥪🛵, Xindong Waimai, in its Douyin app.
2️⃣ ByteDance Volcano Engine's 🌋 translation team debuts its "simultaneous translation" system, clinching first place in an international machine translation competition 🌏. The new system aims to expedite the translation process by ten times.
Meituan
3️⃣ Meituan plans to downscale its mobile power bank rental service📱. 👤Gao Cheng, head of the rental service division, has resigned. Staff under this division are relocated to Meituan Youxuan, a community grocery division.
4️⃣ Meituan relaunched its ride-hailing app 🚕🚖, Meituan Dache, three years after removing it from China's app store.
Tencent
5️⃣ Tencent has posted several computer chip R&D positions on its official recruitment website 💻🖥, making headway into chip R&D and design.
China has ramped up efforts to rein in the country’s cryptocurrency industry, banning crypto mining operations and ordering major banks to cease businesses with crypto companies. Read here to find out more about China’s crypto crackdown: https://86insider.com/chinas-crackdown-on-cryptocurrency/
Photo: Reuters
Photo: Reuters
Spotlight Monday
Baidu
1️⃣ Baidu recently launched its robotaxi ride-hailing pilot program in Guangzhou 🚕🚖. Thus far, Baidu Apollo has also initiated services in Changsha, Cangzhou and Beijing.
ByteDance
2️⃣ ByteDance tests a new social feature in its Douyin app named "Shake" 🤝, allowing users to make friends with strangers living in the city 👯♂️.
3️⃣ ByteDance has invested in VisionNav Robotics 🤖, a supplier of autonomous industrial vehicles 🚗.
Digital Yuan
4️⃣ The People's Bank of China has released its first white paper on digital yuan 💴, including the digital yuan's definition, design principles, operation systems, digital wallets, the scope of existing trials, and the responsibilities of participants.
5️⃣ Shenzhen has rolled out a pilot project involving the integration of digital currency into public transportation networks 🚎🚝.
Tencent
6️⃣ Tencent plans to buy British game studio Sumo Group for US$1.27 billion 👾🎮.
Baidu
1️⃣ Baidu recently launched its robotaxi ride-hailing pilot program in Guangzhou 🚕🚖. Thus far, Baidu Apollo has also initiated services in Changsha, Cangzhou and Beijing.
ByteDance
2️⃣ ByteDance tests a new social feature in its Douyin app named "Shake" 🤝, allowing users to make friends with strangers living in the city 👯♂️.
3️⃣ ByteDance has invested in VisionNav Robotics 🤖, a supplier of autonomous industrial vehicles 🚗.
Digital Yuan
4️⃣ The People's Bank of China has released its first white paper on digital yuan 💴, including the digital yuan's definition, design principles, operation systems, digital wallets, the scope of existing trials, and the responsibilities of participants.
5️⃣ Shenzhen has rolled out a pilot project involving the integration of digital currency into public transportation networks 🚎🚝.
Tencent
6️⃣ Tencent plans to buy British game studio Sumo Group for US$1.27 billion 👾🎮.
Spotlight Monday
Alibaba
1️⃣ Alibaba continues its partnership 🤝 with ByteDance by allowing Douyin users to include Taobao product links in the app. Users will be directed to the Taobao App to complete the transaction💰.
Baidu
2️⃣ Baidu and Pony.ai are the first batch of companies to receive the license to test autonomous driving on the expressway 🚗🚙🛣.
NetEase
3️⃣ NetEase Cloud Music 🎧🎶 passed its listing hearing with the Hong Kong Stock Exchange 🇭🇰 and aimed to raise about US$1 billion.
Tencent
4️⃣ Tencent will complete the integration of Sogou, a Chinese Internet service provider 🇨🇳, as early as August.
Alibaba
1️⃣ Alibaba continues its partnership 🤝 with ByteDance by allowing Douyin users to include Taobao product links in the app. Users will be directed to the Taobao App to complete the transaction💰.
Baidu
2️⃣ Baidu and Pony.ai are the first batch of companies to receive the license to test autonomous driving on the expressway 🚗🚙🛣.
NetEase
3️⃣ NetEase Cloud Music 🎧🎶 passed its listing hearing with the Hong Kong Stock Exchange 🇭🇰 and aimed to raise about US$1 billion.
Tencent
4️⃣ Tencent will complete the integration of Sogou, a Chinese Internet service provider 🇨🇳, as early as August.
Spotlight Monday
ByteDance
1️⃣ Amid the pressure of the double reduction policy, ByteDance’s education businesses have retrenched employees and have suspended provision of trial courses 📚👩🏻🏫.
Meituan
2️⃣ Chinese antitrust regulators contemplate imposing a💰US$1 billion fine on Meituan for allegedly monopolistic behaviour.
Didi Chuxing
3️⃣ Didi has laid off about a third of its staff in its community group-buy grocery unit 🥒🍅🍇, Chengxin Youxuan.
Tencent
4️⃣ After the state media drew a correlation between video games and drugs 👾💊, Tencent further tightened minors’ access to games such as Honor of Kings 👑.
5️⃣ Tencent launched a non-fungible token (NFTs) trading platform called Huanhe, which aims to sell NFTs in the forms of video, audio, photos and 3D models 🎥📸🎶.
ByteDance
1️⃣ Amid the pressure of the double reduction policy, ByteDance’s education businesses have retrenched employees and have suspended provision of trial courses 📚👩🏻🏫.
Meituan
2️⃣ Chinese antitrust regulators contemplate imposing a💰US$1 billion fine on Meituan for allegedly monopolistic behaviour.
Didi Chuxing
3️⃣ Didi has laid off about a third of its staff in its community group-buy grocery unit 🥒🍅🍇, Chengxin Youxuan.
Tencent
4️⃣ After the state media drew a correlation between video games and drugs 👾💊, Tencent further tightened minors’ access to games such as Honor of Kings 👑.
5️⃣ Tencent launched a non-fungible token (NFTs) trading platform called Huanhe, which aims to sell NFTs in the forms of video, audio, photos and 3D models 🎥📸🎶.
China’s meteoric rise at the Olympics would not be possible without its athletes, all of whom have gone through gruelling training regimes for years. Read to find out the success stories and post-Olympics lives of five of China’s greatest Olympians of all time: https://86insider.com/chinas-olympics-titans-and-where-they-are-now/
Photo: SupChina
Photo: SupChina
Spotlight Monday
ByteDance
1️⃣ ByteDance tests ecommerce platform TikTok shop in the UK 🛍🛒, hoping to boost in-app transactions.
Meituan
2️⃣ Meituan tests a new takeout order sharing feature, Fan xiaoquan, allowing users to recommend food to their Wechat friends by sharing food delivery orders 🥪🍕.
NetEase
3️⃣ NetEase Cloud Music ☁️🎶 has postponed its IPO in Hong Kong after mulling over the current market environment.
Tencent
4️⃣ Tencent merges its long-form video platform Tencent Video and short video service Weishi into a new online video operation 📹📽.
ByteDance
1️⃣ ByteDance tests ecommerce platform TikTok shop in the UK 🛍🛒, hoping to boost in-app transactions.
Meituan
2️⃣ Meituan tests a new takeout order sharing feature, Fan xiaoquan, allowing users to recommend food to their Wechat friends by sharing food delivery orders 🥪🍕.
NetEase
3️⃣ NetEase Cloud Music ☁️🎶 has postponed its IPO in Hong Kong after mulling over the current market environment.
Tencent
4️⃣ Tencent merges its long-form video platform Tencent Video and short video service Weishi into a new online video operation 📹📽.
Spotlight Monday
Baidu
1️⃣ Baidu debuts its robotaxi mobile platform Luobo Kuaipao 🚕🚖, currently available in Beijing, Guangzhou, Changsha and Cangzhou.
Bilibili
2️⃣ Bilibili tested a new auto-tune remix video editor 📹 feature to help users produce remix-themed videos more easily.
ByteDance
3️⃣ Douyin released a new auction function that allows merchants to auction goods such as jewellery, jade, beverages and second-hand luxury products 💎👜🍷.
Tencent
4️⃣ Tencent Video 🎬 filed a lawsuit against Douyin and sought US$$15.4 million for copyright infringement over clips from a hit TV drama, 📺 Crime Crackdown.
Baidu
1️⃣ Baidu debuts its robotaxi mobile platform Luobo Kuaipao 🚕🚖, currently available in Beijing, Guangzhou, Changsha and Cangzhou.
Bilibili
2️⃣ Bilibili tested a new auto-tune remix video editor 📹 feature to help users produce remix-themed videos more easily.
ByteDance
3️⃣ Douyin released a new auction function that allows merchants to auction goods such as jewellery, jade, beverages and second-hand luxury products 💎👜🍷.
Tencent
4️⃣ Tencent Video 🎬 filed a lawsuit against Douyin and sought US$$15.4 million for copyright infringement over clips from a hit TV drama, 📺 Crime Crackdown.
Spotlight Monday
Alibaba
1️⃣ Alibaba made a second investment in DeepRoute.Ai, a level 4 self-driving solution provider 🚗🚙.
ByteDance
2️⃣ ByteDance mulls over acquiring Chinese VR hardware maker Pico for US$771 million💰.
JD.com
3️⃣ JD.com is in talks to obtain a controlling stake in China Logistics Property Holdings, one of the country’s largest shipping and warehouse companies 🏚.
Kuaishou
4️⃣ Kuaishou and NBA plan for a partnership🤝 in content rights and brand commercialization.
Alibaba
1️⃣ Alibaba made a second investment in DeepRoute.Ai, a level 4 self-driving solution provider 🚗🚙.
ByteDance
2️⃣ ByteDance mulls over acquiring Chinese VR hardware maker Pico for US$771 million💰.
JD.com
3️⃣ JD.com is in talks to obtain a controlling stake in China Logistics Property Holdings, one of the country’s largest shipping and warehouse companies 🏚.
Kuaishou
4️⃣ Kuaishou and NBA plan for a partnership🤝 in content rights and brand commercialization.
Spotlight Monday
ByteDance
1️⃣ ByteDance plans to sell its domestic and international securities business, with an overall valuation of about US$77 to 150 million💰.
Stock Exchange
2️⃣ China will set up a new stock exchange in Beijing to support the innovation and development of SMEs 🇨🇳🏢.
Tencent
3️⃣ Tencent has increased its gaming investments 👾🎮 in European startups by more than seven times this year.
Xiaomi
4️⃣ Xiaomi completes business registration of its electric vehicle unit 🚙🚗, Xiaomi Auto, with registered capital of US$1.5 billion.
ByteDance
1️⃣ ByteDance plans to sell its domestic and international securities business, with an overall valuation of about US$77 to 150 million💰.
Stock Exchange
2️⃣ China will set up a new stock exchange in Beijing to support the innovation and development of SMEs 🇨🇳🏢.
Tencent
3️⃣ Tencent has increased its gaming investments 👾🎮 in European startups by more than seven times this year.
Xiaomi
4️⃣ Xiaomi completes business registration of its electric vehicle unit 🚙🚗, Xiaomi Auto, with registered capital of US$1.5 billion.
As President Xi Jinping ratchets up the rhetoric about "common prosperity," read here to find out the measures implemented thus far to realize the goal, and how this idea was ignited: https://86insider.com/common-prosperity-chinas-way-of-tackling-social-inequality/
Photo: South China Morning Post
Photo: South China Morning Post
Spotlight Monday
ByteDance
1️⃣ ByteDance is reportedly in talks with banks 🏦 on raising a US$4 billion 💵 loan to support its overseas expansion, refinance debt and replenish funds for daily operations.
Didi Chuxing
2️⃣ After failing to gain an edge in the community group-buy sector 👥, Chengxin Youxuan will cease operations in 22 provinces, accounting for more than 60% of its service locations.
Tencent
3️⃣ After receiving multiple complaints on the loss of chat data, WeChat plans to launch a paid cloud storage ☁️ service that allows users to back up their chat records.
4️⃣ Tencent has applied for two trademarks related to "metaverse"—creating an immersive virtual world via AR and VR—for its games 👾🎮.
ByteDance
1️⃣ ByteDance is reportedly in talks with banks 🏦 on raising a US$4 billion 💵 loan to support its overseas expansion, refinance debt and replenish funds for daily operations.
Didi Chuxing
2️⃣ After failing to gain an edge in the community group-buy sector 👥, Chengxin Youxuan will cease operations in 22 provinces, accounting for more than 60% of its service locations.
Tencent
3️⃣ After receiving multiple complaints on the loss of chat data, WeChat plans to launch a paid cloud storage ☁️ service that allows users to back up their chat records.
4️⃣ Tencent has applied for two trademarks related to "metaverse"—creating an immersive virtual world via AR and VR—for its games 👾🎮.
Spotlight Monday
Alibaba
1️⃣ Alibaba rebranded its community group-buy unit to “Taocaicai,” which incorporated Freshippo Market 🦛 and Taobao Maicai 🥦🥕.
ByteDance
2️⃣ Douyin tests incorporating Xindong Waimai, its food delivery service 🍔🛵, into livestreaming portals 📹.
3️⃣ ByteDance plans to release a music streaming product 🎵🎧 named Feile for the domestic market later this year.
JD.com
4️⃣ JD will launch its five-story physical store 🛍🛒 named JD Mall in Xi An on 30 September.
Tencent
5️⃣ Tencent’s QQ started allowing users to access competitor links 🔗 such as Taobao and Douyin, after regulators told the company and its rivals to end a long-standing practice of blocking each other’s links.
Alibaba
1️⃣ Alibaba rebranded its community group-buy unit to “Taocaicai,” which incorporated Freshippo Market 🦛 and Taobao Maicai 🥦🥕.
ByteDance
2️⃣ Douyin tests incorporating Xindong Waimai, its food delivery service 🍔🛵, into livestreaming portals 📹.
3️⃣ ByteDance plans to release a music streaming product 🎵🎧 named Feile for the domestic market later this year.
JD.com
4️⃣ JD will launch its five-story physical store 🛍🛒 named JD Mall in Xi An on 30 September.
Tencent
5️⃣ Tencent’s QQ started allowing users to access competitor links 🔗 such as Taobao and Douyin, after regulators told the company and its rivals to end a long-standing practice of blocking each other’s links.
Spotlight Monday
Alibaba
1️⃣ Ali Venture Capital plans to sell all of its stake in Mango Excellent Media 🥭, a publicly-traded Chinese media company 📺, expecting to lose about US$356 million.
ByteDance
2️⃣ ByteDance plans to launch an e-commerce app aimed at international online shoppers 🛍🛒, similar to Alibaba's Ali Express.
3️⃣ ByteDance plans to launch a new perfume brand called Emotif 👩🏼.
Xiaomi
4️⃣ Xiaomi published a new imaging system patent 📸, allowing users to take 3D images via a multi-device interconnected shooting method.
Alibaba
1️⃣ Ali Venture Capital plans to sell all of its stake in Mango Excellent Media 🥭, a publicly-traded Chinese media company 📺, expecting to lose about US$356 million.
ByteDance
2️⃣ ByteDance plans to launch an e-commerce app aimed at international online shoppers 🛍🛒, similar to Alibaba's Ali Express.
3️⃣ ByteDance plans to launch a new perfume brand called Emotif 👩🏼.
Xiaomi
4️⃣ Xiaomi published a new imaging system patent 📸, allowing users to take 3D images via a multi-device interconnected shooting method.
Spotlight Monday
Alibaba
1️⃣ Alibaba, Baidu and others invested in a core chip vendor Phytium 📱💻, increasing the company's registered capital by about US$13 million.
Baidu
2️⃣ China's antitrust regulator is unlikely to approve Baidu's US$3.6 billion acquisition of JOYY Inc's video-based domestic livestreaming business YY Live 📹📸.
Tencent
3️⃣ Tencent bought 22% of shares in Polish game developer 👾🎮 Bloober Team for US$19.5 million.
Alibaba
1️⃣ Alibaba, Baidu and others invested in a core chip vendor Phytium 📱💻, increasing the company's registered capital by about US$13 million.
Baidu
2️⃣ China's antitrust regulator is unlikely to approve Baidu's US$3.6 billion acquisition of JOYY Inc's video-based domestic livestreaming business YY Live 📹📸.
Tencent
3️⃣ Tencent bought 22% of shares in Polish game developer 👾🎮 Bloober Team for US$19.5 million.
Much has been speculated on the winner of the arms race in AI between the United States and China. Many reports compare these countries on venture funding and policy choices while largely ignoring the fact that talent is the scarcest resource in the AI industry. This article assesses the talent pool in both countries. Read on to find out more: https://86insider.com/chinese-undergrads-will-determine-the-outcome-of-us-china-arms-race-in-artificial-intelligence/
Photo: Modern War Institute at West Point
Photo: Modern War Institute at West Point
Cultural intelligence has become fundamental for venturing into a foreign country. In China, grasping a good understanding of "guan xi" is never less important. "Where should you sit in a business dinner setting? When is a good time to exchange WeChat contact? Learn about these tips as we join two fictional characters (Xiao Ming and Da Ming) on their business trip to Shanghai."
Join us on 10th November from 7.30 PM to 8.30 PM with an exclusive sharing from 86Insider.
Seats are limited to 30 youths! Register now at: https://www.eventbrite.sg/e/curious-potato-talk-series-7-navigating-guan-xi-in-china-tickets-200681211907
Zoom Meeting ID: 880 3273 4283
Zoom Passcode: 111021
Zoomlink: https://us06web.zoom.us/j/88032734283?pwd=eXdvcDRXL25RYVRNU3U5SzNIZ1VJZz09
Join us on 10th November from 7.30 PM to 8.30 PM with an exclusive sharing from 86Insider.
Seats are limited to 30 youths! Register now at: https://www.eventbrite.sg/e/curious-potato-talk-series-7-navigating-guan-xi-in-china-tickets-200681211907
Zoom Meeting ID: 880 3273 4283
Zoom Passcode: 111021
Zoomlink: https://us06web.zoom.us/j/88032734283?pwd=eXdvcDRXL25RYVRNU3U5SzNIZ1VJZz09
As we are approaching the year end, here is our pick of the five events that shaped China in 2021. Read more: https://86insider.com/5-events-that-shaped-china-in-2021/
Photo: SCMP
Photo: SCMP