Over the past few decades, China’s digital giants have steadily raised China to a position of global technological leadership. They have also contributed tremendously to the advancement of China’s living standards. As such, the BAT (Baidu, Alibaba and Tencent) ecosystems have been able to grow with limited government intervention. Then, last week, China’s State Administration for Market Regulation (SAMR) slapped CNY500,000 fines on both Tencent and Alibaba for not reporting previous acquisitions for government clearance.
The influence of short-form video on platforms like Douyin is expanding and deepening across China. With over 600 million users, it’s no wonder a rising number of art and cultural institutions are now taking to Douyin to reach their audiences. As we move into 2021, Douyin will strive to further establish its position as “the educational and creative platform for the mainstream, to show people good lifestyles and good art.“
The team at China Skinny have released a white paper summary of the key business trends to watch in China over 2021. The paper draws on insights from the senior management of Coca Cola, Austrade, the NFL, Mondelez, New Zealand Tourism, Alibaba, Colgate Palmolive and more.
Pinduoduo has launched its own payment tool, Duoduo Pay, to support its 731 million members. Currently, Duoduo Pay’s payment features are comparatively basic by comparison to WeChat Pay and Alipay. However, the system will surely help to minimise some of the on-platform ‘frictions’ faced by Pinduoduo users.
Want to shed some unwanted kilos ahead of summer? It’s as easy as spitting in a tube and sending it to Genebox. For $3, they’ll analyse your DNA, give you a weight loss regime, give you the backgrounds of your great grandparents and let you know your chances of developing cancer or diabetes. Genebox are just one of the 100+ Chinese direct-to-market DNA testing startups. The industry is set to reach $405 million by 2022.