China Tech Daily Briefing (Feb 23)

1. Short video platform Kuaishou releases new product called Mulight, aims to compete with TikTok.

2. Alibaba will not lay off employees: CEO Daniel Zhang.

3. Baidu Cloud’s profit in Q4 2018 is USD 16 million.

4. ByteDance denies news of being listed in the science and technology innovation board of Shanghai Stock Exchange.

5. Huawei plans to expand team in Canada by 20% and R&D investment budget by 15%.

6. OPPO F11 Pro, which has a pop-up selfie camera, will be released on March 5.

7. Social e-commerce star Pinduoduo denies news of Tencent and Sequoia selling its stock.

8. Baidu will focus on investing in companies which can bring higher annual income in 2019: CEO Robin Li.

(By Carl Zhou, intern with The Passage)