Pandaily's Digest #20210208
Debt-ridden LeTV Adds Debt Total to App Icon Amid Lunar New Year Red Envelope Fever, and TikTok Plans to Enter E-Commerce Business with Livestream Shopping.
Debt-ridden LeTV Adds Debt Total to App Icon Amid Lunar New Year Red Envelope Fever
Debt-ridden LeTV on Feb. 6 updated its app to Android 9.24 and changed its icon, adding the caption “owing 12.2 billion yuan.”
China Regulator Fines Vipshop 3 Million Yuan for Unfair Competition Following Probe
Chinese market regulators on Monday issued a 3 million yuan ($464,000) fine to online discount retailer Vipshop Holdings Ltd for unfair competition.
PDD Reveals Top-Selling Products Amid Chinese Lunar New Year
According to PDD, total sales volume has surged 81% year-on-year. For Generation-Z and millennial users, fitness kits, pet wear, and books came to the top on the holiday best-selling list.
China’s Anti-Monopoly Watchdog Issues New Fair Market Rules to Tech Giants
China’s regulatory watchdog on Feb. 7 released new anti-monopoly regulations targeting tech giants and a recent escalation in unfair competition.
Huawei Could Hand Out 40 Billion Yuan in Cash Dividends to Staff: Report
Huawei Technologies will reward employee shareholders in cash dividends that could be worth at least 40 billion yuan ($6.2 billion), state-owned Securities Times reported. The calculation is based on a previous announcement according to which the company had held a total of 22.2 billion shares in 2018.
TikTok Plans to Enter E-Commerce Business in 2021 with Livestream Shopping
As of Feb.8, Chinese video-sharing social networking app TikTok was reportedly planning to enter the e-commerce business in 2021, according to the Financial Times.
Top Three Video Streaming Giants Co-Host First Virtual Cinema Project in China Amid Spring Festival
On Feb. 5, China’s top three video streaming platforms, Alibaba Group’s Youku (NYSE: YOKU), iQIYI Inc. (NASDAQ: IQ), and Tencent Holding’s Tencent Video (OTC: TCEHY) announced their cooperation in launching the first online cinema project in the country during China’s Lunar New Year holiday, known as Spring Festival.
China Approves Sinovac Covid-19 Vaccine For Mass Rollout
China has given conditional approval for the general public use of a Covid-19 vaccine developed by Sinovac Biotech, making it the second home-made vaccine to get the green light for mass inoculation.