Welcome back dear readers to your China Digest appointment, in a week that has seen major news. Internet portal and owner of microblogging service Weibo, Sina, announced that it has entered into a definitive agreement for a delisting from Nasdaq, while Hong Kong Exchange CEO Charles Li announced its decision to step down, ten months before the end of his term. Also, chipmaker SMIC is facing a harsh moment, as its shares dived as much as 7% in Shanghai on Monday, following reports indicating upcoming US export restrictions that could cut off the firm from vital equipment and software. On our feature story, we analyze how Walmart's reported participation, together with Oracle, in a deal to maintain TikTok's operations in the US, could rejuvenate the company’s stuttering e-commerce business. As the fitness industry is recovering at a slow pace after the post-pandemic period, "new-style" gyms such as Shape, powered by tech, want to redesign the market, learn more in our Inside China's Startup story. As always, stay up to date with us.
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