China Mobile launches 5G commercial voice
On April 12, China Mobile released a new 5G voice product. 5G voice is the mobile phone call service that service providers offers based on the 5G network.
TikTok’s ad avenue will balloon to $11bn this year
TikTok’s worldwide ad revenue is predicted to triple to over $11 billion in 2022, according to Insider Intelligence, more than the $10.4 billion for Snapchat and Twitter combined.
Vivo launches first foldable smartphone “X Fold”
On April 11, Vivo officially unveiled its first foldable smartphone, the “X Fold”. At present, the mainstream smartphone manufacturers in China have all entered the foldable smartphone market, releasing their own cult products.
TikTok’s ad revenue hits a 300% growth rate
While TikTok’s ad revenue is growing at a 300% compound annual growth rate, ByteDance’s advertising revenue in China has stagnated, despite recent growth in TikTok’s e-commerce business.
WeChat payment is trialled on the Taobao App
Taobao has opened a small range of WeChat Pay functions for internal testing and has introduced two WeChat Pay payment methods to the payment options.
Removing additional tariffs on US-China trade may ease inflation
On March 24, the spokesperson of The Ministry of Commerce of China Shu Jueting, said that China expects the United States to cancel all additional tariffs imposed on China as soon as possible.
Didi is venturing into the automobile manufacturing business
Didi has been preparing for its move into autonomous driving for quite some time and has started to establish its own R&D teams in Beijing and Shenzhen.
Chinese Online Grocer Dingdong apologises for the food safety issue
Dingdong (Cayman) Ltd, one of the most popular Chinese online grocers, apologised for its food safety issue after being accused of selling expired products.
Meituan e-commerce launches self-operated stores and cross-border businesses
On March 14, Meituan e-commerce launched its self-operated stores, whose operation model is similar to “JD’s self-operated store”.
JD.com built China’s first “zero-carbon” logistics park
JD “Asia No.1” Xi’an Intelligent Industrial Park was awarded dual carbon-neutral certifications by Beijing Green Exchange and Centre Testing International (CTI) this month.
Alibaba announced the sixth public welfare award
On March 3, the “Alibaba public welfare List”, an internal award of Alibaba, was unveiled. The names of the winners and initiatives will be displayed on a Wall of Fame at Alibaba’s Hangzhou headquarters.
Meituan set up a low-altitude logistics tech company in Shenzhen
On March 3, Meituan Low Altitude Logistics Technology Co., Ltd. was founded in Shenzhen, with legal representative Mao Yinian and registered capital of RMB 10 million.