#Laogao E-commerce Newsletter# [E-commerce Morning News on July 23]

      Morning News: The Olympics will use Alibaba Cloud to support global broadcasting for the first time; the State Administration for Market Regulation: crack down on unfair competition using live streaming and other methods; State Grid "Diane E Bao" officially landed on the official digital RMB APP of the central bank; Twitter's Q2 financial report for 2021: Net profit of US$65.6 million, turning losses into profits year-on-year; Russia's cumulative fine on Facebook in 2021 reached 49 million rubles.

      Lao Gao provides everyone with the latest and most valuable Internet and e-commerce information every day.

E-commerce newsletter

1. State Grid "Diane E Bao" officially logs into the official digital RMB APP of the People's Bank of China

      On July 23, the State Grid Corporation of China's "Dianebao" recently officially logged into the official digital RMB APP of the People's Bank of China, completing the connection with the central bank's sub-wallet push function. At present, this business has been fully liberalized to nine pilot areas including Xiongan New Area, Suzhou, Chengdu, Shanghai, Xi'an, Dalian, Changsha, Qingdao and Winter Olympics scenes within the operating areas of the State Grid Company. Residents can experience the convenient application of digital RMB in electricity bill scenarios without leaving home. In addition, the official unified online service portal of the State Grid Corporation of China's "Online State Grid" sub-wallet push is about to be launched. (E-commerce News)

2. Xinning Logistics: Shareholder JD.com reduced its holdings of 1.06% of its shares

      On July 23, Xinning Logistics issued a morning announcement stating that the company received a "Notice of Share Reduction Ratio of 1%" by Suqian JD Zhenyue Enterprise Management Co., Ltd. on July 22, 2021. It reduced its holdings of the company's shares by a total of 4.72 million shares through centralized bidding and bulk transactions, accounting for 1.06% of the company's total share capital. (E-commerce News)

3. State Administration for Market Regulation: Cracking for unfair competition by using live streaming and other means

      As of the first half of 2021, market supervision departments at all levels across the country have investigated and dealt with 3,128 cases of unfair competition, with a fine of 206 million yuan. The State Administration for Market Regulation also announced the first batch of 10 typical cases of online false propaganda and unfair competition, involving three different types of order brushing methods. (E-commerce News)

4. Naixue's Tea set up a new beverage technology company with a registered capital of 50 million

      According to the news on July 23, Tianyancha App showed that on July 22, Shenzhen Naixue Beverage Technology Co., Ltd. was established. The legal representative is Yuan Jie, with a registered capital of RMB 50 million. The business scope includes food production, tea product production, wine product production, etc. Shareholder information shows that the company is jointly held by Naixue’s tea-related companies Shenzhen Pindao Catering Management Co., Ltd. and Yuan Jie. (Yibang Power News)

Cross-border newsletter

5. Twitter's Q2 financial report for 2021: Net profit of US$65.6 million, turning losses into profits year-on-year

      According to July 23, Twitter released its second quarter financial report for 2021 as of June 30. The report shows that Twitter's second-quarter revenue was US$1.19 billion, a 74% increase from US$683 million in the same period last year; net profit was US$65.6 million, compared with a net loss of US$1.378 billion in the same period last year. Twitter's core performance indicators exceeded Wall Street analyst expectations, driving its after-hours stock price to rise 5.65% as of press time. (E-commerce News)

6. Uber will acquire logistics company Transplace for $2.25 billion

      July 22nd news, Uber's logistics department Uber Freight announced today that it will acquire logistics company Transplace for US$2.25 billion. The deal will be in stock plus cash, which includes up to $750 million in Uber common stock, with the rest being paid in cash. Meanwhile, Uber invested billions of dollars to strengthen its Uber Eats food delivery business, acquires Drizly, a takeaway service for alcohol products, and Postmate, and food delivery service. (E-commerce News)

7. Cloud computing company Salesforce completes acquisition of Slack for US$27.7 billion

      July 23 news, it is reported that cloud computing company Salesforce has completed the acquisition of Slack, a corporate chat and internal collaboration tool, and has added the instant messaging app to its enterprise software suite without changing Slack's capabilities, brand or leadership. (Yibang Power News)

8. Russia's cumulative fine on Facebook in 2021 reaches 49 million rubles

      According to July 23, Russia has imposed a cumulative fine on Facebook in 2021 to 49 million rubles. (Bloomberg) (E-commerce News)

Internet Information

9. The Olympics will use Alibaba Cloud to support global broadcasting for the first time

      On July 22, Bach said at Alibaba's "Olympics on Cloud" press conference that this year's Olympic Games will use Alibaba Cloud to support global broadcasting for the first time, which is an important step for the Olympics to enter the digital age. The President of the International Olympic Committee expressed his gratitude for Alibaba's technical support. Zhang Jianfeng, president of Alibaba Cloud Intelligence, said that for this special Olympics this year, digitalization is not only a challenge, but also an opportunity. (E-commerce News)

10. State Administration for Market Regulation: Cracking for unfair competition by using live streaming and other methods

      As of the first half of 2021, market supervision departments at all levels across the country have investigated and dealt with 3,128 cases of unfair competition, with a fine of 206 million yuan. The State Administration for Market Regulation also announced the first batch of 10 typical cases of unfair competition on the Internet, involving three different types of order brushing methods. (E-commerce News)