Popular Chinese video-sharing platform Bilibili has filed to be listed at the New York Stock Exchange, with its initial public offering (IPO) expected to raise $400 million, media reported Saturday.
Founded in 2009, Bilibili is considered the home of the ACG — anime, comics, and games — subculture in China, and is known for its “bullet screen” video comments. The company claimed 72 million monthly active users on average by the end of last year, more than four-fifths of whom were born after 1990.
Bilibili’s net revenue increased from $20.1 million to $80.4 million from 2015 to 2017, but it still suffered losses in those years. Last month, one of Bilibili’s rivals iQiyi — a video streaming service similar to Netflix — also filed for an IPO in the U.S.
Premier Li Keqiang said Wednesday that China will adopt a new amendment to its intellectual property (IP) protection law as the country aims to combat counterfeit goods.
The amendment will focus on “significantly upgrading” the crackdown on copyright infringements to deter illegal behavior, according to a State Council memo. The new rule will impose higher fines on those who intentionally infringe or fake patents, though it does not specify by how much.
Many domestic and international companies have fallen victim to IP theft in China. On Wednesday, police in Anhui province said they had destroyed 500,000 pairs of fake Converse and Vans shoes worth 600 million yuan ($87.5 million). Last year, Chinese courts received 237,242 IP cases, a 33.5 percent increase from 2016. (Image: VCG)
On Tuesday, a public primary school in Shenzhen issued a notice that enrollment eligibility would be based on years lived in certain sizes of local homes, China News Service reported Wednesday.
To apply for enrollment, children must have resided in the school’s district for either six-plus years in a home no larger than 30 square meters, or four-plus years in a home over 30 square meters but no larger than 50 square meters. With ever-higher demand for limited seats, the school says the measure — set to go into effect in 2019 — is intended to reduce applications from families who recently registered a local residence for the purpose of securing enrollment. The notice had been removed from the school website by Wednesday night.
Competition for spots in desirable Chinese primary schools is often fierce, with young children sometimes touting outlandish résumés and one school even testing parents’ scholastic aptitudes to determine their child’s eligibility. (Image: VCG)
Wang Yuan, 18, was referenced in an essay prompt in a tome titled “Morality and Law” for his role as a UNICEF Special Advocate for Education. In January, Wang attended the 7th Economic and Social Council Youth Forum in New York, where he gave a speech to promote higher-quality education. In comments under the post, netizens were quick to explain the inclusion of their “positive energy idol” in the textbook. “It’s because Wang Yuan has a positive image and has done lots of charity work,” wrote one user.
Since TFBoys debuted in 2013, Wang has accumulated over 68 million followers on Weibo. Last year, he was named one of Time magazine’s “30 Most Influential Teens of 2017,” and in September, news of him throwing out the first pitch at a New York Mets game became a trending topic on Chinese social media. (Image: VCG)
Yang Weidong, who was until last week the president of Alibaba-owned video-sharing platform Youku, is being investigated on suspicion of “economic wrongdoing,” The Paper reported Tuesday. Though Alibaba initially disclosed the investigation to media, the company has not commented since.
Yang joined Youku as its senior vice president in March 2013; Alibaba acquired Youku three years later, in April 2016. Alibaba CEO Daniel Zhang appointed Fan Luyuan, a former executive at fintech company Ant Financial, as Yang’s successor on Nov. 26.
In April 2016, Liu Chunning, then the president Alibaba’s media and entertainment arm, was put on trial for allegedly accepting over 2 million yuan ($290,000) in bribes while at his previous company, Tencent, were he was in charge of video copyright purchases. (Image: VCG)
China’s all-in-one app WeChat introduced a new feature on Monday to combat plagiarism, a tech news outlet reported. Currently available only to selected users, the feature will invite credible content creators with no history of plagiarism to form a panel to review and resolve “article laundering” complaints. WeChat said it has received about 50,000 such complaints since April.
Plagiarism has plagued the social platform’s publishing service since self-publishing outlets, known as “WeMedia,” popularized article rewrites that were just slight enough to avoid detection. Since October, China’s cyberspace authority has closed 9,800 WeMedia accounts accused of article laundering. In May, an investment deal between WeChat’s parent company, Tencent, and WeMedia outlet Chaping fell apart amid accusations of plagiarism against the latter. (Image: VCG)
Police in eastern China’s Zhejiang province have detained two people in connection with the death of a pollution inspector, China Daily reported Monday.
The inspector, Chen Ben, 30, had been investigating pollution in the city of Wenling when he was run over with a car and killed on Saturday night, according to a WeChat post from local authorities. Police have now detained two suspects, surnamed Wang and Jiang, who were in the car when the alleged crime occurred.
The police department’s post had been viewed over 100,000 times by Sunday afternoon, with many netizens commenting to express their disgust with the suspects, according to China Daily. (Image: @温岭发布 on Weibo)
Republished with permission from Caixin Global.
The Ministry of Civil Affairs urged local governments nationwide to promote traditional weddings and organize them in elegant, yet frugal, forms. “Grassroots rural governments [should] set up folk conventions to regulate the wedding process and price,” said Yang Zongtao, an official from the ministry’s Department of Social Affairs.
China’s wedding rituals have often raised eyebrows, either because of opulent spending or the bridal hazing customs that have sometimes turned fatal. In 2016, a bridesmaid in Hainan province choked to death on her own vomit after being forced to drink too much alcohol during a wedding. (Image: VCG)
Police in Hebei province have detained 15 people after a fire in Zhangjiakou killed 23 people and injured 22 others , the city’s publicity department announced Friday.
According to state media outlet Science and Technology Daily, a truck carrying an unspecified amount of acetylene — a highly flammable but generally nontoxic gas — exploded while making a delivery to a local chemical factory on Wednesday. The fire engulfed around 40 vehicles in the vicinity, including 38 trucks. Most of the deceased were truck drivers.
The local government has suspended operations at the chemical factory and taken 15 of its employees into custody, pending an investigation. Following the disaster, local authorities also said they would conduct a safety inspection of the city’s chemical plants and fireworks manufacturers. (Image: VCG)
Chinese search engine Baidu has been fined 600,000 yuan ($86,000) after advertisements deemed pornographic, “superstitious,” or gambling-related appeared on its webpages, People’s Daily reported Saturday.
According to a deposition filed Friday by Beijing’s official commerce watchdog, Baidu Wangmeng — the company’s online advertising platform — displayed illegal content between February 2017 and January 2018 from three advertisers. “Your Chinese zodiac [sign] determines whether you will be poor or rich,” read one example in the deposition. Baidu had not publicly responded to the fine by time of publication.
Chinese authorities have tightened their grip on internet advertising in recent years. Over 8,100 illegal ads were identified in the first half of 2018, up 64.2 percent year-on-year. (Image: VCG)
A court in northeastern China acquitted a man 23 years after he was given a suspended death sentence, citing a lack of evidence, The Paper reported.
The Jilin High People's Court on Friday found Jin Zhehong not guilty of raping and murdering a woman in 1995. The judiciary concluded that the previous ruling was based on a “vague establishment of facts.” Jin’s case was reopened in 2014 after a report by The Paper questioned whether the evidence presented at trial had justified the initial ruling.
In recent years, Chinese courts have overturned several cases involving miscarriages of justice. In April, a 50-year-old man in Jilin was acquitted 28 years after first being charged with murder — the longest known period of wrongful imprisonment in China. (Image: The Paper)