1. Meituan suffers setback after Chinese government’s announcement
Meituan’s stock price fell by 15% after the Chinese government’s announcement that food delivery companies should reduce current fees and also charge preferential fees to food enterprises in high-risk epidemic zones. The company will continue to transform their business model from food+platform to technology+retail. The company is in the process of applying for the trademark “Meituan eCommerce”.
Source: https://new.qq.com/omn/20220220/20220220A092T900.html
2. Plastic straw market badly impacted by new Chinese government policy
The recent ban in China on the use of plastic straws caused many companies to turn to biodegradable straws as urgent alternative. Cafes like Starbucks weren’t affected as they were early adopters of biodegradable straws, but the same couldn’t be said for many other cafes and plastic straws producers. Money-losing plastic straw producers pivoted to producing paper straws only to be besieged by health concerns due to high level of potassium permanganate.
Source: https://new.qq.com/omn/20220222/20220222A0C98Y00.html
3. China’s three child policy
Academics highlighted the potential implications of China’s recent three child policy. Women in rural places, take more increasing child-rearing responsibility while the men had to travel to other provinces in search of higher salary to support family. Survey showed that these women were concerned about the dynamics of husband-wife relationship as the women were unable to earn a living while the men become the sole-bread winner.
Source: https://new.qq.com/omn/20220223/20220223A00ZJ100.html
4. Are you willing to replace news anchors with a USD15,000 lifelike avatar?
The digital avatar market is growing rapidly in China, and its usage extends far beyond what it could perform inside a metaverse. Digital avatar developers are reportedly charging USD 4,500 to USD15,000 to create digital avatars ranging from comic characters, lifelike people to avatars that can perform the job of a news anchor. The trend is causing mixed feelings among the news anchor community.
5. Leveraging virtual pets to attract more users to Metaverse
The battle to create the best Metaverse is still ongoing in China. Companies are racing to build out their metaverse to replicate the real world as much as they can. Elements such as digital economy, digital currency, digital pop scene, etc. Just like the earlier craze for the toy “Tamagotchi”, companies want to use similar concept to attract even more users into metaverse with digital pets.
Source: https://new.qq.com/omn/20220224/20220224A04S9Q00.html
Terra Link Research 