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Meituan has announced a leadership reshuffle, with senior vice president Zhang Chuan stepping down from daily operations to take on an advisory role starting in May. This change, communicated by CEO Wang Xing, includes the merger of the Dianping division into the Core Local Commerce unit and the appointment of former SaaS head Xiao Fei to lead a new software and hardware services unit. The restructuring aims to streamline operations and enhance the company's international growth strategy.
Thailand's Tourism Authority has partnered with Baidu to enhance its appeal to Chinese tourists amid safety concerns, particularly following the disappearance of actor Wang Xing. The initiative, launched on February 27, aims to leverage digital marketing and AI insights to boost tourist confidence and attract high-quality visitors through 2025. In 2024, Thailand welcomed 6.73 million Chinese tourists, with a goal of restoring pre-pandemic levels of 40 million foreign arrivals by the end of 2025, as tourism significantly contributes to the nation's economy.
Chinese President Xi Jinping met with top tech entrepreneurs, including Jack Ma and Ren Zhengfei, to bolster support for the private sector amid economic challenges and a trade war with the U.S. Xi emphasized the need to eliminate barriers for fair market competition.In other news, X has begun blocking links to the encrypted messaging app Signal, citing potential harm, despite Elon Musk's previous endorsement of the platform for privacy. Meanwhile, OpenAI cofounder Ilya Sutskever's new venture, Safe Superintelligence, is reportedly raising funds at a $30 billion valuation, focusing on advanced AI development.
China's regulators are intensifying efforts to stabilize the housing and stock markets, following a meeting of top leaders that emphasized the need for greater stimulus. Measures will include boosting property market demand, enhancing market monitoring, and implementing more effective fiscal policies.The government plans to raise the fiscal deficit target and prioritize lifting consumption to stimulate domestic demand. Despite recent signs of economic recovery, overall confidence remains low, with credit expansion unexpectedly slowing in November, prompting expectations of further monetary easing.
Wang Xingyue
People
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