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China Business News Tuesday (2021-02-16)




News


1. Digital RMB (Blockchain-based) red pocket.

For the Chinese New Year, the Chinese government in Beijing gave away 200 digital RNB to 50,000 people. The blockchain-based currency can be spent via an app at online e-commerce or certain offline retailers. This is part of a regular test in the development of digital RMB and is an innovative practice to boost domestic demand.

Source: http://www.xinhuanet.com/fortune/2021-02/15/c_1127103205.htm

2. Naixuecha, a "new tea beverage" chain, filed for IPO in HK.

According to China Economic Net, "Naixue's tea" has filed a prospectus with the Hong Kong

Stock Exchange, officially starting the process of listing in Hong Kong. If "Naixue's tea" can be successfully listed, it will be the first "new tea beverage" company to be listed in China. Naixue is said to be worth around 13 billion yuan. The company was only founded in Shenzhen in 2015.

Source: https://baijiahao.baidu.com/s?id=1691818971316096190&wfr=spider&for=pc

3. Alibaba Pictures' share price increases by 30%

Very good box office figures in 2021 have a very positive impact on the share prices of Chinese cinema chains and film producers. The total box office of the Chinese film market in 2021 already exceeded 10 billion yuan with a total audience of 229 million. IMAX China also recorded the best Spring Festival box office result ever.

Source: https://baijiahao.baidu.com/s?id=1691821963620318409&wfr=spider&for=pc

4. NetEase plans to invest 155 million US dollars in short videos.

Very good box office figures in 2021 have a very positive impact on the share prices of Chinese cinema chains and film producers. The total box office of the Chinese film market in 2021 already exceeded 10 billion yuan with a total audience of 229 million. IMAX China also recorded the best Spring Festival box office result ever.

Source: https://www.scmp.com/tech/big-tech/article/3121334/netease-spreads-short-video-ambitions-across-entire-ecosystem-take

5. bilibili acquires Emon Animation Company.

The video market in China is highly competitive with rivals TencentVideo and iQIYI. The Chinese video portals are now also trying to differentiate themselves with their own produced content.This is also partly done with partnerships. Last year alone, Sony Corporation of America paid around 400 million US dollars to buy 17.3 million shares in bilibili, which corresponded to 4.98% of the Chinese company's shares.

Source: https://www.animenewsnetwork.com/news/2021-02-15/bilibili-acquires-emon-animation-company/.169512

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