AUG 19 – CHINACCELERATOR DAILY DIGEST: FIVE HEADLINES YOU NEED TO KNOW
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China issues new draft rules to further rein in anti-competitive practices which prohibits forced exclusivity, soliciting fake reviews, and protect intellectual property and brand reputation. It triggered a sell-off wave for Chinese tech companies, including Alibaba Group, Tencent, Baidu, and Bilibili. TheWallStreetJournal
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Tencent’s total revenue in Q2 exceeds $42 billion, a 23% increase year-on-year. “During the recent Henan floods, Tencent Docs, our cloud-based productivity solution, played a valuable role.” Ma Huateng said. Pandaily
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Smartphone manufacturer OPPO sets up a new camera innovation laboratory at its R&D centre in Hyderabad, India, dedicated to developing functions for the Indian and South Asian markets. Pandaily
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Baidu boss Robin Li unveils Robocar, with zero-gravity seats, voice and facial recognition, and advanced AI capabilities, the prototype vehicle is “more robot than car”. SCMP
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Shenzhen says emphatic “no” to cryptocurrency as People’s Bank of China “cleansed” 11 companies for their involvement in suspected illegal cryptocurrency activities as part of a special campaign. SCMP