Chinaccelerator Daily Digest

1. Beijing last week effectively obliterated the after-school tutoring industry overnight and set off a US$1 trillion global sell-off of related stocks. Investors in China stocks need to remember to pay attention to what the government is thinking or risk getting burnt – badly, said SOSV’s William Bao Bean. SCMP

2. Xiaomi unveils its first quadrupedal robot CyberDog. It’s nimble enough to perform backflips and weights 3kg (compared to Boston Dynamics Spot’s 5.2kg). Coupled with human posture and face recognition tracking, CyberDog is capable of following its owner and darting around obstructions, says Xiaomi. The Verge

3. China’s top antitrust regulator is weighing a roughly $1 billion fine on food-delivery giant Meituan for allegedly abusing its dominant market position. WSJ

4. Tencent launched an NFTs trading platform called Huanhe, issuing 300 NFTs styled as vinyl records based on the popular Tencent-developed celebrity talk show “Shisanyao.” Each piece is priced at RMB 18 ($2.8). The platform is planning to sell NFTs in the forms of video, audio, photos, 3D models, and more. Wu Blockchain in Chinese

5. China’s bitcoin-mining ban saves enough electricity to power an industrial city of 1M people for 33 years. Its electricity-rich areas pivot to building electric-vehicle (EV) charging stations to reduce range anxiety of EV users: Guizhou plans to build 4,500 EV charging piles this year. SCMP