Pandaily's Digest #20220119
ByteDance is reportedly preparing to disband its investment business, CATL launches EV battery swap service, China's pilot digital yuan app surpasses 20 million total downloads, and more.
ByteDance to Disband Investment Team
On Wednesday, 36Kr learned from several sources that Chinese internet company ByteDance plans to disband its investment business as a whole, involving about 100 employees. Among them, Zhao Pengyuan, the head of strategic investment, and some employees in the strategic investment department may merge into strategic business. The financial investment portion of the company will be completely dissolved.
Chinese Battery Maker CATL Launches Battery Swap Service for Electric Cars
At its first online launch event, Contemporary Amperex Energy Service Technology Ltd. (CAES), a wholly-owned subsidiary of Contemporary Amperex Technology Co. Ltd. (CATL), launched on Tuesday a new service for electric vehicles called EVOGO featuring modular battery swapping.
Downloads of China’s Pilot e-CNY App Exceed 20 Million
Data from the app stores operated by Huawei, Xiaomi, OPPO, Vivo and other major Chinese smartphone makers show that the cumulative downloads of a recently released digital yuan mobile application have exceeded 20 million, according to a Monday report by Cailian Press.
Starbucks Partners With Meituan to Expand Delivery Services
Starbucks China on Tuesday announced a new cooperation agreement with Meituan, a domestic food delivery platform giant. As part of the arrangement, Starbucks will launch an exclusive events initiative called “1971 salons” alongside Meituan, allowing customers to order coffee delivery via the super-app’s digital platform.
Video Streaming Site Bilibili Removes Hacked Security Camera Footage
Web users in China have uploaded footage to domestic video streaming platform Bilibili that is suspected to have been obtained by hacking security cameras in public places, sparking public concern.
Assessing China’s Platform Economy in 2022
Nowhere is the rise of the platform economy more apparent than in China, where a burgeoning economy and technological metamorphosis in recent decades have been underpinned by a cohort of sprawling and innovative tech giants such as Alibaba, Tencent and Baidu.
China VC Weekly: Plant-Based Meat and Bioelectronic Skin
In last week’s VC news, prominent Chinese plant-based meat startup Starfield raised a new $100 million round, bioelectronic technology provider Rotex secured backing from investors including Hillhouse Capital, and computer vision startup Axera raked in $126 million from Meituan, Qiming and others.
Canalys: Apple Retakes Top Spot in Global Smartphone Market, Xiaomi Ranks No. 3
According to a report released by data research organization Canalys on Tuesday, Apple is back at the top of the smartphone market in Q4 2021 with a market share of 22%, thanks to strong demand for the iPhone 13.
China’s JD.com and Shopify Team Up to Serve Cross-Border Merchants
Chinese e-commerce giant JD.com has formed a strategic partnership with Ottawa-based Shopify to help U.S. merchants sell their goods in the world’s second-largest economy. JD.com will open its platform to Shopify merchants by integrating domestic supplier resources while JD International Logistics will provide door-to-door logistics services.
ByteDance’s Perfume Sub-Brand EMOTIF to Hit Shelves Soon
Beijing-based tech giant and TikTok creator ByteDance is carrying out final preparations for its subsidiary perfume brand EMOTIF, before it enters shelves on third-party e-commerce platforms, Xinyan Finance reported on Monday. EMOTIF is comprised of three versions, namely “Electronic Lover,” “Deep Sea Flight” and “Pompidou Only Drinks Champagne.”
