1. The market regulator fined Alibaba CNY 18.228B for monopoly abuse
In December 2020, the General Administration of Market Supervision in China launched an investigation against Alibaba under the "Anti-Monopoly Law". The investigation found that Alibaba Group has a dominant position in the online retail platform market in China. Since 2015, Alibaba Group has abused its dominant position by prohibiting companies from opening stores or participating in promotional activities on other competing platforms on its platform and has taken various reward and punishment measures. As the penalty is now determined, the market's uncertainty about Alibaba is reduced, which leads the stock market price to increase..
2. JD subsidiary cooperates with autonomous driving startup
QUANDAO Technology and JD Logistics have entered into a partnership to cooperate in unmanned logistics distribution vehicles. Both sides will promote the regular operation and safety of unmanned distribution business in Changshu ( a city in Jiangsu province) and even more regions in China. Under this cooperation, QUANDAO technology will provide JD Logistics with a complete solution for applying high-precision L4 map data.
3. Tencent Cloud expands to an additional region
Tencent Cloud is opening its first cloud computing data center in Indonesia. The company will use it to provide high-quality cloud services such as elastic computing, storage, and security to customers in Indonesia and surrounding areas. Tencent wants to be a reliable partner to help businesses and organizations in the region realize rapid digital transformation.
4. BYD focuses on safer battery technology despite mid-price cars
BYD targets low and middle-income drivers compared to other electric car manufacturers in China. The company has announced that it will be one of the first to fully embrace LFP (lithium-ion battery) technology. This should increase the safety of electric vehicles made by BYD. Other companies in this field are still using NMC (Nickel Manganese Cobalt Oxide) batteries, which are much cheaper but more prone to problems. Last year alone, 124 incidents of NEV smoke were recorded in China.
5. ByteDance's TikTok remains the most successful app in Q1 2021
The mobile business research institute Sensor Tower has once again reported that TikTok continues to rank #1 in global mobile app downloads in Q1 2021, with more than 58 million downloads in March. This is excellent news for the world's most valuable startup, which is planning go public in the coming months.