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China Business News (2021-04-22)

1.Tencent Cloud is the most environmentally friendly

Tencent leads Greenpeace's China Big Tech clean energy rankings. Tencent is the best among China's cloud service providers at tackling carbon emissions and sourcing from renewable sources. Tencent has a positive record of transparency and has increased its procurement of renewable energy. Huawei Technologies ranked second, and Baidu ranked third, with Alibaba coming in fourth.


2. Kuaishou sets its sights on eCommerce growth

Kuaishou has announced that they want to have an eCommerce GMV of CNY 750-800 billion in 2021. This would be a doubling to 2020. From the supply chain perspective, they plan to have a volume of CNY 800 billion. Already, 60% of purchases will be completed through the internal store and delivery. External platforms will handle the remaining 40%.


3. Chang'an Automobile with ambitious transformation plans

Chang'an Automobile has released a new 5-year plan to transform into a low carbon technology company where efficiency and software capabilities are core competencies. Changan Automobile plans to invest 150 billion yuan in focusing on software, intelligent technology, low-carbon driving. It strives to become a world-class automotive brand. In terms of business targets, Changan Automobile's sales volume will reach 5 million units by 2030.


4. China Digital Media Awards 2021 iQIYI wins four awards

At the China Digital Media Awards, iQIYI won four awards, including the best digital media innovation company of the year and the best digital marketing team. iQIYI also announced that it plans to launch in Australia and New Zealand in partnership with Sun Entertainment Production Australia.


5. Huawei wins a trademark dispute against fashion brand Chanel

Chanel has lost a trademark dispute against Huawei. The accusation was that a logo from the Chinese telecommunications giant was too similar to the luxury fashion house's iconic double-C. The General Court of the European Union dismissed Chanel's claim, arguing that the logos used for the two brands were sufficiently distinct.


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