Updates: 24 – 30 May

NAMES:

1. Li Ziqi

Li Ziqi is appointed by the Ministry of Agriculture and Rural Affairs to be one of the ambassadors to the Chinese Farmers’ Harvest Festival. Among the six appointed ambassadors — which includes a National People’s Congress delegate and a scientist— Li is the youngest. (25 May)

2. Liu Zhen

Liu Zhen, SVP of Bytedance, has resigned. She was in charge of the company’s international expansion and investments, public relations and legal affairs. Her resignation could be seen as a move by Bytedance to shift decision making power of its international business out of China. She is the niece of Liu Chuanzhi, founder of Lenovo. (29 May)

COMPANIES:

1. Qihoo 360

The United States blacklisted more Chinese entities, the most prominent being Qihoo 360. The total number of blacklisted Chinese entities is now 33. (24 May)

2. JD.com

Riding on the livestream frenzy, JD.com announced that its June 18 Anniversary Sale will primarily focus on e-commerce through livestreaming. A total of over 300,000 livestreams will be hosted on partner platforms such as Kuaishou, Douyin and Bilibili. (27 May)

3. Surgical Mask Factories

Several small surgical mask factories have shut down due to the drop of domestic demand and tightening of export quality control. Since March, China has been exporting 460 million masks per day. (23 May)

EVENT:

Key Highlights of Two Sessions

  • China approved Hong Kong’s national security plan to suppress subversion, terrorism and any acts that might threaten the national security of Hong Kong.
  • China has adopted the Civil Code, which will take effect on 1 January 2021. China’s first ever Civil Code will encompass seven parts and more than 1000 articles, including sections on property, contracts, inheritance and personality rights. The Civil Code will improve China’s business environment and make it friendlier for international companies to do business in China, experts say.