China

Huawei’s annual sales growth was taking a hit, dropping significantly from 24.4% to 9.9%, according to its earnings report released on Friday.

Tesla increased Model 3 production capacity at its Shanghai Gigafactory to 250,000 units a year and it is building a new factory for its Model Y.

The sale will generate nearly USD 2 billion in net proceeds, half of the USD 4 billion the company raised in its IPO in September 2018.

Before the livestreaming event was announced, Baidu’s shopping channel, which launched quietly in the last month, only offered a limited range of products.

Alibaba is subscribing for a fifth of the available Ant shares in the IPO, that could raise as much as USD 35 billion.

Tencent’s Pony Ma registers the biggest personal wealth increase among all the names on the rich list.

Douyin will roll out landscape mode soon and mobile editing tool Jianying will have a PC version.

The Chinese online education market is projected to reach a volume of RMB 423 billion, up 21.97% from last year’s level.