Baidu to build 5 million intelligent cloud servers by 2030, China has seen fast growth in its livestreaming industry over the past years, ByteDance made $5.6 billion in Q1, Alibaba Pictures to delist from Singapore Exchange, Huawei to get green light for $500m R&D center in UK, China’s TZTEK Technology to buy German chip tester for USD20.4 million

A quick introduction to 618 and first day sales

Xpeng files for US IPO, online marketplace for artists and collectors filed for IPO, Netease aims to raise $2-$3 billion in Hong Kong listing, Alibaba's online market to sponsor 100,000 influencers worldwide, TikTok user spending hits USD 78 million in April, Amazon unveils its first solar power project in China

NASDAQ to delist China's biggest Starbucks rival Luckin Coffee, Bytedance is forming a car infotainment team, Zoom suspends new free user registrations in China, Ant Financial’s MYbank to extend USD1.4 billion in interest-free loans to small businesses

Business operation highlights for Baidu and Bilibili in Q1 2020

Chinese e-commerce upstart Pinduoduo has overtaken rival JD.com to become China’s second most valuable online retailer after Alibaba, following a 5.26% rise in its shares on Tuesday

ChinaJoy Game Anime Expo to Go Ahead, BMW to invest $620M in Shenyang, cloud computing company Kingsoft surges 40% on IPO day, Dior unveils AI skin-testing tool, China to Give Foreign Banks’ Local Branches Access to Fund Custody Licenses

Alibaba's Double Five shopping festival in Shanghai, grocery e-retail brand Hema Fresh, U.S. drafts rule to allow Huawei and U.S. firms to work together, Bilibili’s market capital increased USD 480 million in one day, Inspur wades into Japan’s USD 5 billion market

China has overtaken Japan to emerge as the second-largest wealth market, with an estimated 2.3 million high net worth individuals

Huawei's Hisilicon chip unit overtook U.S. semiconductor giant Qualcomm to be the biggest mobile phone chip supplier in China for the first time, Chinese brands accounted for about 61% of global 5G smartphone shipments in Q1, Tencent buys 5% stake in Australian buy-now-pay-later firm Afterpay, Chinese mobile games accounted for 19 of the top 100 highest-grossing games in the US, Didi Chuxing has reopened all of its mobility services in Wuhan, Tesla unveils new price cuts

MYbank, a digital bank under Ant Financial Services Group, served 20.87 million small and micro businesses (SME) in China as of the end of 2019, an increase of 70% YoY, according to its annual report.

Smartphone maker Transsion profit up 173% in 2019, Bitcoin-mining machine maker Ebang files for U.S. IPO, JD.com files for secondary listing in Hong Kong, China is expanding listing reforms, Alibaba Cloud 3rd biggest global provider for IaaS, Tencent to take over China’s game livestreaming market

AutoX trialing its “robotaxi” service in Shanghai, Tesla escalates battle against Chinese EV maker Xpeng, Starbucks has entered a strategic partnership with Sequoia Capital China, ByteDance ordered to suspend office app Feishu

JD.com and Volkswagen collaborate for vehicle-mounted smart system, Shanghai has become a major force behind the adoption of e-commerce live-streaming, China will launch an online shopping festival

iFlyTek reported a loss in Q1, Online education firm sees spike in userbases, China plane tickets fall 30%, Alibaba & JD offer bookings for COVID-19 tests

Tencent invests USD17M in Navinfo, Shanghai’s free-trade zone will accelerate digital infrastructure push with 5G, IoT and AI tech, Chinese smartphone brand OnePlus to compete in China, Huawei Q1 revenue grows 1.4%, Baidu introduced an updated version of Baidu Hi, 4.9 billion online office hours logged in March

The gross domestic product (GDP) of China was 20,650.4 billion yuan (US$2,908.74 billion) in the first quarter of 2020, a year-on-year decrease of 6.8%

Megvii unveils virtual makeup solution FaceStyle to boost sales for cosmetics retailers, China’s largest utilities will spend $570m on charging stations this year, Revenues of Chinese mobile game providers hit record-high of US$7 billion during Q1, a new committee tasked with setting up national standards for blockchain, e-commerce platform Jumei Youpin exit NYSE, 7,000 car-related live-streaming sessions in a single day,

China surpassed the U.S. as the top source of patent applications in 2019;

Lenovo Group managed to increase its market share of PC sector in Q1, Jack Ma tops Fortune China’s list of influential business leaders in 2020, China to extend cross-border e-commerce scheme, Tencent becomes majority shareholder in Chinese game live-streamer Huya, Chinese telcos try to replace WeChat with launch of 5G messaging service, China’s AI startups already raised $420 million in April, Tesla's China sales hit record high in March, Bilibili announces 400 mln USD investment from Sony