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China Crypto Roundup (Mar. 8-Mar. 14):Meitu Bought 260M Yuan BTC and ETH, Digital RMB Pilot Became a Hot Topic at NPC&CPPCC

1. Meitu spent 260 million yuan to buy Bitcoin and Ethereum

On March 8, Well-known beauty camera app Meitu’s parent company, the Hong Kong-listed Meitu Company, became a trending topic on Weibo after it announced to great fanfare that it had bought $40 million, or about 260 million yuan, in Ethereum and Bitcoin.

Later, Cai Wensheng, chairman of Meitu, said that Meitu continued to lay out blockchain. “Someone has to be the first to eat crabs,” Cai said. “This is the first listed company in Hong Kong to purchase BTC, and the first listed company in the world to use ETH as a reserve of currency value.”

2. Blockchain talent education status in China: 36 universities offer courses and laboratories

By the end of November 2020, 32 Chinese universities have carried out blockchain teaching research. Among them, 16 universities have launched/planned to launch 20 credit courses; Twenty-seven universities have set up 33 laboratories.

Companies are requiring fewer degrees for talent than they did in October 2019. In November 2020, the enterprise required the blockchain talent undergraduate rate (note: only for undergraduate, not including master and doctoral) was 51.74%, down 10.84% compared with the previous. The average undergraduate salary is 24,700 yuan/month, which is about 1,000 yuan less than before.

3. 500.com has changed its name to “BITMiningLimited”

Recently, Internet sports lottery trading platform 500.com revealed that its board of directors voted to change its Chinese name to “比特矿业”, its English name to “BITMiningLimited” from “500.comLimited”, and its stock symbol to “BTCM”.

In December last year, 500.com announced that it would systematically explore and advance the blockchain and cryptocurrency industry. In January of this year, 500.com announced that it would issue about $14.4 million worth of common stock to acquire Bitcoin miners, including S17, T17, M20 and S9.

4. Blockchain-related proposals for NPC&CPPCC in 2021: Digital RMB pilot became a hot topic

At NPC (the National People’s Congress) &CPPCC (the Chinese People’s Political Consultative Conference), government work report mentioned that we should speed up digital development, create new advantages of digital economy, and coordinate to promote digital industrialization and industrial digital transformation. As a cornerstone of digital economy, blockchain technology plays an important role.

At least 20 provincial-level administrative regions have written “blockchain” into their 2021 government work reports. In addition, in the draft of the 14th Five-Year Plan and the chapter of “Accelerating Digital Development and Building Digital China”, “Blockchain” has also been listed as a key industry of digital economy. And Digital RMB pilot became a hot topic.

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