Pandaily's Digest#20221114
The world’s largest shopping festival reached its apex on Friday, as leading Chinese e-commerce sites and social media platforms unleashed a blitz of promotions and live streams in their annual bid.
Subdued Singles’ Day Reflects China’s Evolving E-Commerce Sector
The world’s largest shopping festival reached its apex on Friday, as leading Chinese e-commerce sites and social media platforms unleashed a blitz of promotions and live streams in their annual bid to drum up sales.
UC Berkeley Professor Yi Ma to Leave US for University of Hong Kong
On November 13, Yi Ma, a Professor at the Department of Electrical Engineering and Computer Sciences at the University of California, Berkeley, announced that “Starting in Jan. 1, I will serve as the director of a new Institute of Data Science of Hong Kong University.”
HiPhi, BYD and Other Chinese Carmakers Eye Luxury EV Market
Recent years have laid bare the advantages of electrification, intelligent technology and user targets for the automotive industry, and Chinese brands are increasingly launching vehicles from 300,000 yuan ($42,624) and upward in a bid to join the high-end market.
Air Suspension System Firm KH Automotive Technologies Secures Round-B Financing of $72M
KH Automotive Technologies, a supplier of air suspension systems for passenger cars, announced on November 14 its completion of round-B financing totaling 510 million yuan ($72 million), jointly led by China Venture Capital, CRRC Guochuang, Source Code Capital and Shenzhen Capital Group. Other participating institutions included Yonghua Capital, Huoyan Capital, Shanshan Venture Capital and Dening Capital.
Tesla Model Y Loses Control in Guangdong, Two Dead and Three Injuries
A Tesla Model Y in Chaozhou, China’s Guangdong Province was recently suspected to have lost control while driving at a high speed for 2.6 kilometers, causing two deaths and three injuries. The maximum speed of the vehicle reached 198 km/hour.
Hong Kong-Based Crypto Exchange Bitcoke Suspends Withdrawals Due to Investigation of Financial Officer
BitCoke, a Hong Kong-based crypto exchange, suspended withdrawals from 13:00 on November 13 local time due to a police investigation into its financial officer. The employee, who is currently cooperating with officials under restricted conditions, is unable to provide private key authorization for the exchange to continue certain operations.
Warren Buffett Reduces Shareholding Ratio in BYD to 16.62%
On November 11, documents on the Hong Kong Stock Exchange (HKEx) showed that Berkshire Hathaway, founded by Warren Buffett, reduced its holdings of more than 5.78 million BYD shares at HK $196.99 on November 8, and its shareholding ratio dropped to 16.62%.
PDD Holdings’ Temu App Said to Consider Canada After September US Debut
PDD Holdings’ US shopping app Temu is planning an expansion into Canada, just months after beginning operations in America, according to the Late Post.
JD.com Founder Richard Liu Condemns Firm Executives in Email, Adhering to Low-Price Strategy
Richard Liu, the founder and former CEO of Chinese e-commerce giant JD.com, emphasized that low prices are the core competitiveness of the retail industry in an October 23 reply to Farris Xie, firm Vice President and President of its Home Appliances Division.
After Publishing Paper on Landau-Siegel Zeros Conjecture, Mathematician Yitang Zhang Shares His Mood
A post appeared recently on popular online Chinese Q&A platform Zhihu, stating that “mathematician Yitang [Tom] Zhang has published a new paper, ‘Discrete Mean Estimates and the Landau-Siegel Zero.’ What are the achievements and significance of this research?” This question has aroused extensive discussion, and Zhang himself posted a long article in response on November 10.
ByteDance’s TikTok Shop Officially Launched in US
On November 10, news that TikTok Shop will be launched in US was finally confirmed. According to the official website, in order to register for TikTok Shop in the US, merchants will need to use a domestic mobile phone number and email address, or an existing TikTok account. An invitation code is also required.
