Pandaily’s Digest #20220316
On Tuesday, investment institution Hillhouse Capital denied the rumor that the company had been liquidated after losing over over $30 billion with its Chinese ADR holdings.
Hillhouse Capital Denies Liquidation Rumors, Losses on Chinese ADRs
On Tuesday, investment institution Hillhouse Capital denied the rumor that the company had been liquidated after losing over over $30 billion with its Chinese ADR holdings.
Ant Group Tops 2022 Global Privacy Computing Patents List
Intellectual property research institution IPRdaily and Chinese patent database provider incoPat on Wednesday jointly released the “2022 Global Privacy Computing Patents List.”
China’s “CCTV 3.15 Gala” Exposes Consumer Rights Violations
China’s annual consumer rights day TV show, the “CCTV 3.15 Gala,” was held on Tuesday evening by the country’s state broadcaster China Media Group (CMG). Similar to CBS network’s “60 Minutes” in the United States, the China Central Television (CCTV) show known as “3.15,” in reference to the global consumer rights day on March 15, exposed many brands and companies for alleged infringements.
TikTok Partners With Cannes Film Festival
In order to enhance its global influence, the organizing committee of the Cannes Film Festival has chosen to cooperate with TikTok, providing users of the popular app with exclusive backstage, red-carpet interviews with filmmakers from all over the world, according to Variety on Tuesday. The Cannes Film Festival, however, previously had banned selfies on the red carpet.
Newborn Town Launches Video Social Networking NFTs
Newborn Town, a global social networking company headquartered in Beijing, recently launched the world’s first video-based social networking digital collectibles – “YUMY QUEEN 2021 NFTs” – released by its user community organization, “Yumy Queen DAO.” Yumy, a dating app operated by Newborn Town, previously underwent alpha testing for a metaverse feature called Meta Town.
BYD Unveils Han DM-i and DM-p Models
On Tuesday, Chinese electric vehicle maker BYD unveiled its new Han DM-i and DM-p models, both of which were available for pre-order last month though price have remained undecided. Both models feature BYD’s super hybrid system and blade battery.
China’s Shenzhou-13 Astronauts to Conduct Second Class from Space Station
Astronauts aboard China’s space station will give another class in the coming days, the China Manned Space Engineering Office (CMSEO) announced on Tuesday.
Envision AESC to Supply Power Batteries to Mercedes-Benz
Luxury automotive brand Mercedes-Benz announced on Wednesday that it has reached a strategic cooperation agreement with Envision AESC, a subsidiary of Envision Group. Under the arrangement, the firm will provide power battery products for Mercedes-Benz’s new pure electric SUV models EQS and EQE, and will help the brand accelerate its electric transformation. The two sides did not disclose the purchase volume of this cooperation.
Several Tencent Business Groups Undergo Staff Reduction
Since the end of 2021, many business groups operated by Shenzhen-based tech giant Tencent have begun to undergo personnel reductions, according to 36Kr on Tuesday. The company’s CSIG (Cloud & Smart Industries Group) and PCG (Platform & Content Group) are seeing major layoffs, while the IEG (Interactive Entertainment Group) is either reducing a small number of employees or hasn’t yet initiated layoffs. As of 8:00 a.m. on Tuesday, Tencent has not responded to this news.
Cyberspace Administration of China Strengthens Network Protection Measures for Minors
The Cyberspace Administration of China (CAC) issued a notice on Monday for public consultation on the Regulations on Network Protection for Minors.