AUG 17 – CHINACCELERATOR DAILY DIGEST: FIVE HEADLINES YOU NEED TO KNOW

1. China E-commerce giant Alibaba opened a NFT(non-fungible tokens) trading section on Alibaba Auction backed by the Sichuan provincial government. The service, called “Blockchain Digital Copyright and Asset Trade”, allows writers, musicians, game developers and other artists to sell the rights to their content via blockchain. SCMP

2. Chinese self-driving unicorn QCraft raised $100 million in its Series A+ round led by YF Capital and Genesis Capital, with Meituan’s DragonBall Capital and IDG Capital joining, highlighting the bets made by the Big Techs on the promising driverless car space. Born in Silicon Valley and shifted its pivot to China in 2019, QCraft announces to achieve “Level 4” automation. Pandaily

3. Tencent’s PUBG mobile game brought in $299 million in revenue in July, with two-thirds of its revenue comes from the Chinese market, making it the world’s top-grossing game. Honor of Kings, another game from Tencent, ranked second at $231.2 million, with nearly 95% of the sales comes from China. Technode

4. China introduces new Personal Information Protection Law to regulate “Big Data Killing” by internet enterprises, preventing the price discrimination strategy of increasing product’s price for returning customers. Deeper problem of “big data killing” lies in the improper protection and utilization of user data by large tech firms. Pandaily

5. In the aftermath of the Amazon banning on Chinese merchants who bribe customers to write good reviews, Shenzhen is giving $308,000 to each qualified cross-border e-commerce store as encouragement to find alternatives to Amazon. Applicants must have started operation before 2019 with $300,000+ monthly sales and own independent website as opposed to opening a store on a larger platform. SCMP