Pandaily's Digest #20210521
ByteDance co-founder Zhang Yiming to step down as CEO, Midea to mass produce new energy vehicle parts, Bitcoin plunges after China issues new bans on cryptocurrency transactions, and more.
ByteDance Co-founder Zhang Yiming to Step Down as CEO
Zhang Yiming, Chinese internet giant ByteDance’s co-founder, will step down as chief executive and transition to a new role at the end of 2021 to focus on long-term strategy, the biggest management shake-up since the company’s launch in 2012.
China Esports Weekly: $7.7M HoK World Champion Cup Heads to Beijing Olympic Sports Center, Huya and Douyu Report Q1 Financial Results
Last week, the Chinese esports industry experienced some early summer heat that brought new changes to the scene, witnessing some significant esports announcements from the Beijing government.
Tencent to Ramp Up Investment on Back of Strong Q1 Performance
Tencent Holdings on Thursday reported a 25% gain in first quarter revenue from a year earlier, as the Chinese tech giant pledged to further ramp up investment across various areas.
Chinese Home Appliances Giant Midea to Mass Produce Parts for New Energy Vehicles
Midea Group has announced its foray into the new energy vehicle (NEV) market with plans to produce a range of components and control systems for cars.
Bitcoin Plunges After China Issues New Bans on Cryptocurrency Transactions
Prices of bitcoin and other cryptocurrencies tumbled on Wednesday after the Chinese government imposed fresh curbs on banks’ use of digital money, further fueling concerns sparked by tweets of Tesla CEO Elon Musk.
Beike Founder Zuo Hui Passes Due to Unknown Illness
KE Holdings Inc. announced that founder Zuo Hui passed away on May 20, 2021 due to something described by the company’s press team as “an unexpected worsening of illness.” The exact illness was not specified.