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China Business News Tuesday (2021-03-05)



News

1. Huawei imitates more Google services (Petal Mail).

Due to the ongoing U.S. sanctions, Huawei is striving to provide a well-rounded software experience on its devices. The company is not only working on its Harmony OS mobile operating system but has also released a number of alternatives to Google's services such as HMS and HMS Core, AppGallery, Petal Search, and Petal Maps over the past two years. Now they are launching their email service called Petal Mail to fill the gap left by Gmail. This service is also supposed to be linked to a virtual currency called Petals.

Source: · https://www.xda-developers.com/huawei-petal-mail-testing/

2. SMIC suppliers must fight for export licenses due to trade war.

The U.S. government has been slow to approve licenses for American companies such as Lam Research Corp. and Applied Materials Inc. to sell chipmaking equipment to Chinese semiconductor giant SMIC, which further negatively impacts the global chip shortage. The value of the assets and materials worth is estimated to be USD 5 billion. U.S. government regulators still have not fully decided what to will be allowed to sell to SMIC.

Source: https://www.scmp.com/tech/tech-war/article/3124167/us-china-tech-war-suppliers-smic-said-be-struggling-get-export

3. eCommerce platform provider Baozun's net profit rose 68%.

Baozun can be seen as the Chinese Shopify and provides an end-to-end platform that runs all the e-commerce operations, logistics, IT, and marketing campaigns for large companies. Fourth-quarter 2020 net profit of Baozun rose 68% to RMB 239 million on total company revenue of RMB 3.347 billion (YoY growth 20%). Annual revenue increased 20%, and annual profit increased 51%.

Source: https://m.sohu.com/a/454159858_223785?_f=m-sub_channel_996_feeds_21&spm=smwp.ch15-996.fd-d.1.1614919472737OrYDHVb

4. CEO from Chinese gaming titan NetEase calls for shared parental leave.

In 2019, China's birth rate dropped to a seven-year low. The founder and CEO of tech company NetEase says one way to fix China's demographic crisis is to ease mothers' burden. Ding advocated a shared parental leave model, which should be flexible and can be selected at their own discretion. In addition, they should greatly increase the number of childcare facilities.

Source: https://www.scmp.com/business/article/3124138/baidu-gets-go-ahead-secondary-listing-hong-kong-stock-exchange

5. Tea market growth in China continues with new players.

JD subsidiary JD Supermarket and Zhuyeqing will launch a new national tea brand called "V4". Zhuyeqing is a tea brand, and the only brand in China awarded as one of the top ten famous high-end tea in the world. The cooperation with JD is expected to support the growth of the tea market further. With JD supermarket's support, Zhuyeqing's brand image, service efficiency, and product quality have been continuously improved.

Source: https://m.sohu.com/a/454162658_114984?_f=m-sub_channel_996_feeds_16&scm=0.0.0.0&spm=smwp.ch15-996.fd-s.16.1614919472737OrYDHVb


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