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