Newsletter: Discriminatory Hiring Practices in China, Rejected for Being “Too Rich”
Here is this week’s roundup of China tech stories.
In the 2018 World Cup that just ended in Russia, the absence of the Chinese national team did not stop Chinese companies or fans from joining in the carnival. With the 4-2 victory of France over Croatia, Chinese kitchen-appliance maker Vatti, began to fulfill its earlier promise to refund customers who purchased certain products during the month of games if France wins the World Cup. The unique marketing strategy has increased its brand visibility in the domestic market.
As for the World Cup broadcasting channels, video platform Youku drew over 180 million viewers for all the matches, while Weibo, the Chinese twitter-like platform, became a major short-video content provider for Chinese soccer fans.
During the recent recruiting season in China, a Beijing local was denied an offer by Freshhema, the online grocery store by Alibaba, simply for being a Beijinger. The company’s biased recruitment policy has triggered massive criticism online.
Also noteworthy is Elon Musk’s China visit last week for the production factory in Shanghai and the Beijing Technology Innovation Center. Was his three-day visit a positive sign considering the current tensions of U.S.- China relations?
Editor’s Pick
Criticism the Only Cost for China’s Discriminatory Recruiters
Absent National Team No Barrier to China Fans’ World Cup Madness
Market Briefings
Chinese logistics platform 58 Suyun announced on July 12 the completion of its first round of fundraising in the amount of $250 million, led by InnoVision Capital.
Didi Chuxing signed a strategic partnership on July 17 with Booking Holdings who will put an investment of $500 million into the Chinese mobile transportation platform.
China’s new e-commerce platform, Pinduoduo, plans to raise a maximum of $1.87 billion through its listing on the NASDAQ Global Select section.
Tik Tok was released from a one-week ban in Indonesia on July 10. The Chinese short video app was unlocked after it agreed to censor “negative content”, according to government statement.
Apple announced its plan to invest $300 million along with 10 suppliers in a China Clean Energy Fund on July 12.
JD Finance, the financial spin-off of the e-commerce platform JD.com will raise 13 billion yuan ($1.95 billion) in series B at a valuation of 133 billion yuan.
Editor’s Pick
Tesla’s Beijing Technology Innovation Center Announced During Elon Musk’s Visit to China
World Cup Wrap-up
After France won against Croatia with a score of 4-2, Vatti, the Chinese kitchen-appliance maker, made an announcement that as official partner of French national football team, it would keep its promise to refund customers who bought specific Vatti products during the 2018 World Cup.
It is estimated that the refund could cost Vatti up to 79 million yuan.
Youku published its performance data of the 2018 World Cup in Russia after broadcasting the football matches online as an official new media partner of China Central Television (CCTV).
New Gadgets
The newly released OnePlus 6 red is the sexiest OnePlus device to date!
Xiaomi‘s Mi 8 Explorer Edition will be available for purchase soon, with details unveiled on the website of the Ministry of Industry and Information Technology recently.
Xiaomi will also soon launch the Mi A2 – the successor of Xiaomi’s first Android One powered Mi A1, and the Mi Max 3, which will have “big screen and bigger battery”.
Podcast
This week on TechBuzz China, Ying-Ying and Rui take opposite positions on the future of Xiaomi, an eight-year old company founded by billionaire entrepreneur Lei Jun.
