Pandaily's Digest #20210329
NIO temporarily suspends production for five working days, Huawei obtains vital mobile payment license, Meituan expects more red ink in 2021, and more.
NIO Temporarily Suspends Production for Five Working Days Due to Semiconductor Shortage
Chinese electric vehicle (EV) manufacturer NIO announced last Friday that it would halt production at its JAC-NIO manufacturing plant in Hefei, the capital of the Anhui Province, beginning from today.
Huawei Obtains Vital Mobile Payment License Through Acquisition of Sharelink
Huawei gained a mobile payment license after purchasing full control of Sharelink Network Co., a licensed digital payment firm, suggesting that the Chinese telecom giant wants a piece of an industry over which major payment platforms Alipay and WeChat Pay have assumed dominance.
Meituan Expects More Red Ink in 2021 Following Expansion of Community Group Buying Business
Chinese food delivery platform Meituan reported better-than-expected fourth quarter and full year revenues but warned that continued investment in its community group buying business would likely lead to losses in future quarters.
Chinese Central Bank Official Calls for Greater International Oversight of Digital Currencies
An official at the People’s Bank of China (PBOC), China’s top monetary authority, has called for more robust international management of state-backed digital currencies.
China’s F1 Hopeful Zhou Guanyu Claims his First 2021 Formula 2 Win in Bahrain
Chinese race car driver Zhou Guanyu claimed his second title on Sunday after winning his first race of the 2021 Formula 2 season in Bahrain.