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在线翻译:
szdaily -> Business -> 
At a Glance
    2020-06-30  08:53    Shenzhen Daily

Power price cut

THE National Development and Reform Commission (NDRC) said a policy to cut electricity prices by 5 percent will be extended until the year-end to aid companies struggling because of the impact of the COVID-19 pandemic.

During the early stage of China’s outbreak in February, the NDRC announced measures to cut electricity prices from Feb. 1 to June 30. NDRC said Sunday companies will continue to enjoy lower prices between July 1 and Dec. 31, as the government works to lower companies’ operating costs and protect jobs.

Startup raises $750m

ONLINE tutoring startup Zuoyebang said yesterday it raised US$750 million in a fresh funding round, led by investment firms FountainVest Partners and Tiger Global Management, as the COVID-19 crisis spurs investor interest in education technology.

The Chinese company said in a release that its series E funding round also attracted other investors, including SoftBank’s Vision Fund, Qatar Investment Authority, Sequoia Capital China, Tiantu Capital and Xiang He Capital. Zuoyebang, which was founded by search engine giant Baidu in 2014 and spun off in 2015, says it has more than 50 million daily active users and over 12 million paid users. Its current investors include Goldman Sachs, Coatue Management and GGV Capital.

Online payment

ONLINE payment clearing house NetsUnion Clearing Corp. reported an increasing number of online transactions during the three-day Dragon Boat Festival holiday that ended Saturday.

From June 25 to 27, about 4.2 billion online transactions were processed by the platform, up 50.15 percent from the same holiday last year. The transactions involved 1.97 trillion yuan (US$278.22 billion), up 25.48 percent from last year, the company said. Compared with the three-day Tomb-sweeping Day holiday in early April, the number of transactions surged by 21.99 percent while the value marked a 10.61 percent rise, according to the company.

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