Last week's hottest news and trends from Chinese social media and digital space.
Xiaohongshu demands a cut from influencers’ revenue
The social e-commerce platform Xiaohongshu, or Little Red Book, just announced it will start collecting a percentage of any fees paid to influencers, as the company strives to better monetize its 300 million consumer base. How will the influencers react to this new initiative?
Chinese e-commerce 2019 in review
2019 was truly the year of Chinese e-commerce including the popularity of live-streaming, new sales records, and new players shaking the market from the ground. Plenty has happened within e-commerce in 2019. Jingdaily listed the biggest updates.
Tencent is expanding beyond China’s borders
Tencent generates most of its revenue from its home market, China. But with the pressure of finding new revenue streams, it is strengthening its presence beyond China’s borders and through new industries to remain a market leader. Check out what Tencent is doing outside China in four major ways.
PayPal aims for China after acquiring Gopay
PayPal, one of the world’s biggest payment platforms, is hungry to tap into the Chinese payment market after it completed the deal to acquire 70% of Gopay, a Chinese digital payment service provider. With the deal, PayPal will be allowed to operate payment services in China. The battle for China’s payment market escalates.
TikTok beats Instagram as the 4th most downloaded app
TikTok continues its impressive international growth despite political headwinds in the U.S. The short-video app became the fourth most downloaded app in 2019, even surpassing Instagram. What’s the odds to see TikTok on the very top in 2020?