The Beijing Municipal Administration for Market Regulation has summoned Pinduoduo for talks over misleading advertising. (Reuters pic) BEIJING: Chinese e-commerce giants Pinduoduo and JD.com were among five major platforms summoned for talks over misleading advertising on Thursday, Beijing’s market watchdog said. The talks with company representatives, held by the Beijing Municipal Administration for Market Regulation,…
Beijing believes the internet giants’ aggressive price-cutting campaign could push retailers across China into losses, potentially undermining the economy. BABA led the declines, falling 5.3%; the stock has declined sharply in recent months due to a host of factors. China’s State Administration for Market Regulation summoned executives from the firms over what officials said was…
China is the world’s largest e-commerce market and has been so for many years. One of the biggest players in China’s online shopping market is Chinese ecommerce giant JD.Com, also known as ‘China’s Amazon’. As AI layoffs sweep companies and countries, the founder of JD.com has made a pledge to the company’s 900,000 employees. JD.com…
Hong Kong’s smaller grocers are bracing for pressure amid a fresh wave of price cuts by supermarkets and big retail chains, but some economists say their “neighbourhood connection” could help them stay afloat. A lawmaker also said it was unlikely the big local chains would monopolise the market citing strong competition from online shopping platforms….
Hong Kong Exchanges and Clearing (HKEX) has unveiled its biggest listing reforms since 2018, broadening its special listing regime for innovative companies and opening the door for smaller and more diverse firms to list in the city, the bourse operator said on Friday. HKEX proposed lowering the minimum threshold for companies to list under the…
HSBC and a joint venture led by Standard Chartered are expected to be among the first companies to obtain Hong Kong’s stablecoin licences within two weeks, according to people familiar with the matter. The number of licences and timetable had yet to be finalised and remained subject to change, but sources said a possible date…
Overseas expansion and a commodity boom have put Chinese companies trading on the mainland in a position to beat their offshore-listed peers in earnings, cementing the outperformance of yuan-denominated stocks since the outbreak of Middle East hostility. The 300 largest mainland-traded companies may post average 2025 profit growth of 6.3 per cent during the coming…
Hong Kong’s government-backed investment fund is being redeployed to support the city’s sluggish commercial property sector, signaling authorities’ growing willingness to use public funds as a policy tool to steady office valuations and align real estate investment with the city’s industrial ambitions. Attracting foreign institutions, however, might prove challenging. The city’s elevated vacancy rates, looming…
The company behind Qdama, a mainland Chinese meat and fresh produce chain known for its hefty discounts that rise by the hour every evening until the products are completely sold out, is planning to go public in Hong Kong. Qdama International, set up in 2014, has grown to become the mainland’s largest meat and fresh…
Top tech talent in China can expect lavish bonuses for 2025 as big tech firms from ByteDance to Tencent Holdings double down on efforts to retain and lure people with specialised skills in fields such as artificial intelligence. TikTok owner ByteDance expanded its bonus pool by 35 per cent from a year earlier, as well…