China and Thailand to waive visa requirements from March

Thailand and China will permanently waive visa requirements for each other's citizens from March, according to Thai Prime Minister Srettha Thavisin . After the announcement, searches related to Thailand increased by over 90 percent. Flight searches from Shanghai to Bangkok, Beijing to Bangkok saw a surge of over 40 percent. Data from Travelgo.com shows that during the New Year holiday, Thailand was Chinese tourists’ top overseas destination. Nearly 40,000 travelers flew to Thailand during the New Year holiday. There were over 5,000 flights between China and Thailand over the holiday Last year, Thailand faced bad publicity related to scams, fraud, and kidnapping, becoming a momentarily "dangerous country," significantly impacting the tourism industry but these safety concerns are fading. Malaysia also has a visa-free policy for Chinese citizens entering the country for 30 days.

ASML's export licenses for DUV lithography machines to China revoked

Dutch photolithography leader ASML faced a sudden setback as export licenses for two models of Deep Ultraviolet (DUV) lithography machines approved in 2023 were revoked, the company said on January 2. Despite the setback, most pending orders from Chinese customers who pre-paid for DUV lithography machines have been fulfilled. ASML has been consistently supplying lithography machines, including the NXT:2000i and advanced DUV models, to Chinese customers throughout 2023. However, the company is still unable to sell the more advanced Extreme Ultraviolet (EUV) lithography machines designed for producing 7-nanometer and below chips to Chinese clients.

Baidu-Joyy acquisition officially terminated

Chinese search engine giant Baidu has terminated its acquisition of Joyy Inc., the parent company of live-streaming platform YY Live, leading to discussions regarding the next steps for both companies. In November 2020, Baidu set out to acquire Joyy Inc.'s domestic video business for US$3.6 billion (25.67 billion yuan). The decision to terminate the acquisition comes after Joyy Inc. faced scrutiny from Muddy Waters Research, a prominent short-selling institution, alleging that 90 percent of YY Live's reported live streaming revenue was inaccurately represented. The process encountered delays, with reports surfacing of competition between Baidu Live and YY Live. Amid Baidu's streamlining efforts and substantial layoffs, the acquisition has been officially terminated. With both sides having invested so much, the termination raises questions about the future strategies and directions for both Baidu and Joyy Inc.

Shanghai Airport Authority: passenger throughput at Pudong and Hongqiao airports surges by 235% YoY in 2023

In 2023, Shanghai's Pudong and Hongqiao airports witnessed a surge in air traffic, with 700,000 flights (Pudong: 430,000, Hongqiao: 270,000), marking a 114 percent YoY increase, Shanghai Airport Authority said on Tuesday. Passenger numbers soared to 96.75 million (Pudong: 54.25 million, Hongqiao: 42.5 million), up 235 percent. Cargo and mail throughput rose by 15 percent to 3.8 million tons. A total of 101 airlines operated flights to 278 destinations in 47 countries. Domestic routes reached 175, while international routes achieved 73 percent recovery, with key global destinations returning to 2019 flight frequencies.

JD.com doubles salaries for key workers

Chinese e-commerce giant JD.comis to raise the salaries of frontline employees, including procurement and sales staff, who will see salaries almost double from the beginning of the year. In early 2024, the entire retail workforce is set to receive a raise of no less than 20 percent. The last big salary increase at JD.com was two years ago. JD’s procurement and sales personnel are crucial to retail success. Responsibilities involve dealing with suppliers and listing products on the platform. At the beginning of this year, chairman Richard LIUQiangdong made procurement and sales personnel the actual executors of the low-price strategy. JD.com’s workforce exceeds 590,000 people, 400,000-plus of whom are logistics and delivery personnel.

Changan Auto puts new men in the driving seat

WANG Jun, president of Changan Automobile, is to serve concurrently as chairman of Deepal, a Changan EV subsidiary. In December, Deepal CEO DENG Chenghao, became VP of Changan while retaining his position at Deepal. Another Changan brand, Avatr, also underwent personnel changes. ZHU Huarong, chairman of Changan has assumed the same role at Avatr. WANG Xiaofei, of Deepal, will assist Zhu in his new role. Changan is one of the progressive new energy vehicle companies in China, currently, with three new energy sub-brands: Avatr, Deepal and Nevo. Deepal focuses on extended-range electric vehicles, targeting the mass market, while Avatr focuses on the high-end pure electric market. Launched in August this year, Nevo concentrates on digital intelligence. Changan sold 50,000 EVs in November, a year-on-year increase of 52.7 percent but a month-on-month decrease of 11.9 percent. This year, Changan has sold over 400,000 vehicles.

Geely and Baidu's EV JV names second model

Jiyue, the electric vehicle marque jointly launched by automaker Geely and search engine giant Baidu, released a picture of its second model Jiyue 07 on its official Weibo account on Tuesday. The Jiyue 07 will be the company's first Sedan and will have its debut next year.

Domestic gaming market revenue surpassed 300 bln yuan in 2023

On December 25, the National Press and Publication Administration approved 105 new domestic game licenses, breaking the hundred mark for the first time. This follows the approval of a batch of imported online game licenses on December 22. The move is seen as a positive signal for the thriving Chinese online gaming industry. With this batch, the total number of domestic online game licenses issued in 2023 has reached 977, a 108.76 percent increase from 2022. The domestic gaming market shows signs of recovery, with sales reaching 302.96 billion yuan (US$42.39 billion) in 2023, a 13.95 percent YoY increase, surpassing the 300 billion yuan mark for the first time. The user base reached a record high of 668 million people.

Blizzard and Netease rekindle partnership, reports say

A year after its exit, Activision Blizzard, a key player in the gaming industry renowned for developing World of Warcraft, is reportedly seeking to re-enter the Chinese market. According to business media outlet 36Kr, the company is in discussions with its former collaborator, Netease. As per 36Kr, Netease is expected to reassemble a team for Blizzard games and test servers. This suggests that fans may need to wait for at least six months before the games make a comeback in China. Netease declined to comment on the speculation. Sources familiar with the matter said that Netease had disbanded its Blizzard team in January, making it unlikely for the company to reassemble the team. Blizzard respondedthat the company currently has no information or updates to share on the matter.

Alibaba’s Eddie Wu appoints 6 young sidekicks

Since taking over as CEO of Alibaba’s TaotianGroup, Eddie Wu has launched a bold organizational restructuring with six young managers reporting directly to Wu. The restructuring of Taotian, the unit which includes Taobao and Tmall, is one of Wu’s measures to support young talent who have gained experience and won recognition in their previous roles. Taotian is also recruiting 2,000 graduates for roles around the country. The jobs will be based in at least six cities including Hangzhou and Shanghai. Taobao and Tmall are the foundation of Alibaba's e-commerce, and Taotian’s importance is self-evident. After its competitor, Pinduoduo overtook Alibaba Group in terms of market value, Wu called on Alibaba employees to reshape the business with the determination to start a new business again.