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Meituan relaunches ride-hailing app amid Didi investigation

Jul 13, 2021
Chinese life service app Meituan relaunched a standalone ride-hailing app on Friday, three years after the company removed Meituan Dache to cut expansion costs. The launch came as market leader Didi’s apps are banned from accepting new users during a cybersecurity review. Meituan’s ride-hailing service continued operating as a mini-program within the Meituan super app during the app’s hiatus. [SCMP]

Suning founder Zhang Jindong steps down as chairman

Jul 13, 2021

Zhang Jindong, the billionaire founder of Suning, resigned as chairman of the Chinese retail conglomerate this Monday. Zhang lost control of the company when the business sold a nearly 17% stake to a government-led consortium for a $1.36 billion bailout last week. [Bloomberg]

China to ask Tencent Music to give up exclusive deals with music labels

Jul 12, 2021

China’s top market regulator is set to ask Tencent Music Entertainment to give up exclusive deals with music labels like Sony, Reuters reported, as part of an anti-trust campaign. The State Administration of Market Regulation (SAMR) will also fine the Nasdaq-listed the company RMB 500,000 ($77,251) for failing to report 2016 acquisitions of music apps Kuwo and Kugou. [Reuters]

Meituan to pilot drone delivery system in Shanghai

Jul 9, 2021

Chinese food delivery giant Meituan unveiled a self-developed drone delivery system Tuesday at the World Artificial Intelligence Conference held in Shanghai. Through a partnership with local government, Meituan plans to construct a demonstration center in Shanghai’s southwestern Jinshan district, promising 15-minute delivery for users within a three kilometer radius. [Sina, in Chinese]

Tesla launches cheaper Model Y in China

Jul 8, 2021
Tesla began selling a cheaper Model Y in China on Thursday. Starting from RMB 276,000 ($42,600), the standard range model is 20% cheaper than the previously released long-range Model Y and runs for 525 kilometers (326 miles) on a single charge. [Bloomberg]
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