AUG 18 – CHINACCELERATOR DAILY DIGEST: FIVE HEADLINES YOU NEED TO KNOW
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SoftBank co-leads Series B in Chinese self-driving startup Neolix, which has deployed nearly 1,000 autonomous vehicles globally with 1.3 million kilometers safe-driving mileage, and established partnerships with food and beverage retail brands like Pizza Hut and KFC. SCMP
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Chinese government takes minority stake, board seat in TikTok owner ByteDance’s main domestic subsidiary. SCMP
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Alibaba-backed Zuoyebang launches 5 quality education products. NetEase’s Youdao launched 6 new quality education products earlier, covering such fields as programming for children, science, art and robotics and the game of Go. Pandaily
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Tencent Music is considering postponing its plans to sell up to $5 billion in shares in Hong Kong until next year, as China’s regulatory crackdown has resulted in a volatile market. NikkeiAsia
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Chinese Q&A platform Zhihu reported a net loss of $49.7 million in the second quarter, a 177% increase from last year, its continued high marketing expenses partly contributed to the widening losses. While its MAUs grew 46% yearly to 94.3M, only 4% are paying users.Zhihu