#Laogao E-commerce Newsletter# [E-commerce Morning News on August 16]

      Morning News: News said that Xiaohongshu launched a new round of financing valuation of more than US$10 billion; Suning.com launched subsidies, full discounts and other activities during the 818 outbreak period; Beijing Walmart Chaoyang store stopped operating and this year Walmart closed stores reached double digits; Kuaishou: A total of 133 illegal accounts in the live broadcast room were dealt with 241 illegal live broadcasts; Beijing Walmart Chaoyang store stopped operating and this year Walmart closed stores reached double digits...

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

E-commerce newsletter

1. News says Xiaohongshu has launched a new round of financing and valuation exceeds US$10 billion

      According to the report on August 14, according to "Finance" magazine, recently, many investors close to Xiaohongshu said that Xiaohongshu has started a new round of financing, with a valuation of more than US$10 billion. Previously, Xiaohongshu had completed six rounds of financing, and the latest round of financing was in the first half of this year, but Xiaohongshu did not disclose this round of financing. The investor said that Xiaohongshu's valuation was about $6 billion at that time. Currently, Xiaohongshu's investors include Alibaba, Tencent, Tiantu Investment, Zhen Fund and other well-known institutions. Some people familiar with the matter said that Xiaohongshu originally planned to go public in the United States, but due to regulatory impacts, the IPO was suspended. (E-commerce News)

2. Suning.com launches subsidies, full discounts and other activities during the 818 outbreak period

      According to August 15, at 0:00 today, Suning.com started the 818 outbreak period. Suning.com will launch activities such as subsidies, full discounts, and 50% off. During the 818 event, Suning.com focused its resources on categories such as home appliances and home decoration, and brands such as Hisense, Midea, Xiaomi, and Gree participated. In addition, users who choose to trade the old for new can enjoy a one-stop trade-in with refrigerators and washing machines, and air conditioners, color TVs, kitchens and bathrooms can deliver new and old to the door at the same time. (E-commerce News)

3. Alibaba Auction and the new version of the chain cooperation to build "Blockchain Digital Copyright Asset Trading" is launched

      On August 15, according to new news from Link, the "Blockchain Digital Copyright Asset Trading" channel, jointly built by Alibaba Auction and the new version of the chain, was launched nationwide and pre-existing. The project uses blockchain technology and is an innovative application in the digital copyright industry of Alibaba Auction Platform. Earlier this month, Alibaba Auction, in conjunction with more than 300 service providers across the country, held the 2021 service provider conference in Hangzhou. Alibaba Auction officially launched a service product specially launched for individual bidding users - judicial "Reliance Shooting". (E-commerce News)

4. ICBC and Chengdu Jinjiang Government issued the "Love Line 1.314" digital RMB hardware wallet

      The wallet contains 199 yuan of RMB pre-deposited by Industrial and Commercial Bank of China for each new couple, which means "love lasts forever". It is given to the top 20 new couples who came to Hejiangting Marriage Registration Office on the day of the Chinese Valentine's Day. This hardware wallet supports "touch payment", and also has functions such as balance inquiry, consumption count display, etc., and can experience consumption in merchants that can accept digital RMB. (E-commerce News)

Cross-border newsletter

5. Hefei Shushan Economic and Technological Development Zone cross-border e-commerce transaction volume exceeds US$50 million

      On August 15, last September, the Anhui Provincial Cross-border E-commerce Innovation Service Center was established in Shushan Economic and Technological Development Zone, Hefei City, with an area of ​​about 13,000 square meters. By creating a comprehensive cross-border e-commerce service system-based cross-border e-commerce services integrating customs clearance information services, international logistics, and cross-border payments, building an ecological closed loop of the entire industrial chain, promoting the localization of cross-border e-commerce and promoting the upgrading of traditional trade. According to Han Dong, Secretary of the Party Working Committee and Director of the Management Committee of Shushan Economic and Technological Development Zone, the establishment of the center has enabled Shushan Economic and Technological Development Zone to achieve leapfrog development, and has signed contracts to settle in 46 upstream and downstream supporting and operating enterprises. From January to July this year, the customs clearance of 9610 export business has been completed by about 800,000 orders, and the cross-border e-commerce transaction volume has exceeded US$50 million. (E-commerce News)

6. Beijing Walmart Chaoyang store has ceased business. This year, Walmart stores have closed twice-digit numbers.

      According to August 15, on August 10, the Beijing Walmart Chaoyang store officially stopped operating. According to the announcement, after the Walmart store is closed, there are still 10 Walmart stores in Beijing, including 7 Walmart Shopping Plazas and 3 Sam's Membership Stores. As the scale of the domestic e-commerce market continues to expand in recent years, the physical retail market has been continuously squeezed, and Walmart's Chinese market has gradually suffered challenges. In fact, during the four years from 2016 to 2020, Walmart has successively closed 80 stores in China, most of which are hypermarkets, and since 2021, its number of stores has reached double digits. (E-commerce News)

7. Lanzhou's cross-border e-commerce import and export volume was RMB 168 million from January to June

      On August 15, the Lanzhou Municipal Bureau of Commerce of Gansu Province stated that from January to June this year, Lanzhou City achieved a cross-border e-commerce import and export volume of 168 million yuan, an increase of 104.9% year-on-year. In July 2018, Lanzhou City was approved as a national-level cross-border e-commerce comprehensive pilot zone. (E-commerce News)

8. Shenzhen Bureau of Commerce held a seminar on cross-border e-commerce companies on the ban on Amazon

      According to August 14, according to 21st Century Business Herald, the Shenzhen Municipal Bureau of Commerce recently held a cross-border e-commerce company symposium on the impact of Amazon's recent large-scale ban on sellers. Representatives of participating companies said that the Shenzhen Municipal Government’s support policy for cross-border e-commerce sellers may be announced in the future. It is reported that at the symposium, the Shenzhen Municipal Government mainly learned about the negative impact of Amazon's store closure on cross-border e-commerce export companies, what difficulties have caused to the normal production and operation of enterprises, what "self-rescue" measures have the enterprises taken, and what help Amazon sellers hope that government departments will provide. (E-commerce News)

Internet Information

9. Kuaishou: 133 illegal accounts in the live broadcast room were handled in 241 illegal live broadcasts

      On August 14, today, the "Kuaishou Blackboard Newspaper" issued an announcement on cracking down on bad behavior in the live broadcast room. This time, Kuaishou dealt with 133 illegal accounts and 241 illegal live broadcasts. At present, Kuaishou has launched a special rectification campaign, and comprehensively cleans up bad information in the live broadcast room through technical means and manual review. Once violations are found, a penalty for live broadcast ban and account ban will be given. At the same time, the average monthly live broadcast paid users of Kuaishou App in the first quarter of 2021 was RMB 46.1, an increase of 2.9% since RMB 44.8 in the same period in 2020. (E-commerce News)

10. Lei Jun: Xiaomi’s total amount of red envelopes to be issued has reached 194 million yuan

      According to August 16, yesterday, Lei Jun posted on his Weibo that after Xiaomi's 10th anniversary gratitude event was launched, 96,986 users have received the 1999 yuan red envelope released by him, totaling 194 million yuan. It is reported that the event has 23 hours left. At the 2021 Lei Jun annual speech and new product launch conference held recently, Lei Jun released Xiaomi's new MIX4 and announced that he would give a red envelope of 1,999 yuan to each Xiaomi mobile phone user. After the news was released, data from second-hand platforms such as Zhuanzhuan showed that the search volume of Xiaomi 1 instantly surged. (E-commerce News)