Here are the articles we found most interesting and relevant for our clients this past week.

1.Alibaba gains minor stake in courier firm Yunda

China’s e-commerce giant Alibaba has become a shareholder in courier firm Yunda Holding Co. with a 2% stake.

2.The top China healthcare investment trends in 2020, according to investors

Investors are bullish about innovative medical devices and globally-tested innovative drugs, where high returns are expected. Also promising are aesthetic medicine and medical services, which are considered as consumer services.

3.China’s public blockchain service network to increase accessibility for global SMEs

China’s National Development and Reform Commission (NDRC) announced the launch of a national Blockchain Service Network (BSN), which will reduce blockchain application operating costs by as much as 80%. China’s BSN will greatly reduce the barrier to entry for firms looking to leverage blockchain technology and hopes to expand to include global SMEs.

4.Meet the company behind China’s self-driving vending machines: Inside China’s Startups

A young Chinese company called Neolix, which was founded in 2018 in Beijing, believes it is already on the right track and set to break even in the near future.

5.China startup NIO gains USD 1 billion state funding to chase Tesla

The new government investment comes after at least one similar deal collapsed, as NIO races to ensure cash flow while facing growing competition from American rival Tesla.

6.Alibaba wants to make remote work the new normal: Will it succeed?

An Alibaba insider shares the company’s efforts to transform remote working. It’s online working platform DingTalk has improved to support video conferences for large groups of employees.

7.Online push helps Shanghai shopping festival pull in USD 2.2 billion of sales in first 24 hours

The Double Five shopping festival is part of measures to boost consumer spending,which got off to a strong start on the May 5 evening, with online and offline sales exceeding RMB 15.6 billion yuan (USD 2.2 billion) in its first 24 hours.

8.Tencent bolsters overseas presence in smart retail with investment in Australian payments firm Afterpay

Tencent Holdings has become a “substantial shareholder” in shop-now-pay-later firm Afterpay, as the Chinese internet giant continues to expand its overseas investments in smart retail and fintech services.

9.Airbnb China to Lay Off Employees As 25% Workforce Cut Globally

 American tourism experiences platform Airbnb is laying off about 25% of its workforce as the COVID-19 pandemic halts the travel industry and threatens the company’s core business. Airbnb China has also started the layoff process.

10.China’s e-sports market tops 100 billion yuan for the first time after official recognition boosts prospects

E-sports revenue, including income generated by games, tournaments and merchandising, passed the RMB 100 billion milestone for the first time. The market is expected to rake in more than 165.1 RMB billion in revenue by 2021.

 

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