Quick takes
/Beijing cracks down on influencers
It is well-known that livestreaming is big business in China, but we didn’t realise quite how big it is. This week, Huang Wei, China’s so-called ‘queen of livestreaming,’ was fined by Beijing for evading taxes. The fine… US$210 million. And apparently, she has the cash on-hand to settle the bill in the next few days.
Another misstep by Alibaba
Alibaba’s woes continue. This week, China’s Ministry of Industry and Information Technology (MIIT) suspended an information-sharing partnership with Alibaba Cloud Computing. Apparently, the company failed to “promptly report and address a cybersecurity vulnerability.”
CEIR reports weak Q3 numbers in U.S.
The Center for Exhibition Industry Research (CEIR) has published its key metrics on the U.S. B2B exhibitions industry. Net square feet sold fell 44% in Q3 2021 compared with Q3 2019. Number of exhibitors was down 51%. Attendees fell 37% and revenues were down 50%. Despite that, the U.S. still seems likely to be one of the best performing markets in 2022.
Cancellations in KL continue
Automechanika Kuala Lumpur, organised by Messe Frankfurt, has announced the decision to postpone the next edition of its show from March 2022 until March 2023.
Malaysia’s Movement Control Order (MCO) policies are severely affecting travel. As a result, Messe Frankfurt stated that the new show dates are 16-18 March 2023.