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…
Mannings, one of Hong Kong’s largest health and beauty chains, will cease all retail operations in mainland China, both online and offline, as it adjusts its strategy in the highly competitive market. In a letter to its members, Mannings China said “its physical stores on the mainland will close permanently after January 15, 2026”. Its…
(Reuters) -China’s JD.com (JD) topped market estimates for quarterly revenue on Thursday, as the e-commerce giant benefited from steady consumer spending on its platform thanks to government subsidies and lower prices. U.S.-listed shares of the company rose nearly 5% in premarket trading. Chinese retail majors including JD.com and Alibaba are using heavy discounts and price…
Gavin Newsom continues to mock the ever-loving hell out of Donald Trump on social media. Anadolu / Getty Images In the past week, he opened up his own store: Related: JD Vance’s “Ridiculous” Answer About How To Curb School Shootings Is Going Viral He renamed MAGA: He held his own mock Trump press conference: Advertisement…
BEIJING (Reuters) -Chinese retailer JD.com (JD) plans to open five discount superstores in two Chinese cities, marking its latest move into new segments as competition intensifies in its core e-commerce market. Confirming a report in Beijing Business Today, a government-backed newspaper, the company told Reuters on Tuesday that the supermarkets will be in Zhuozhou city…
Once a rising star in China’s AI scene, Manus has since relocated its headquarters to Singapore, quietly stepping out of the mainland spotlight just as Big Tech players from Tencent to ByteDance rush to fill the void. The timing is not coincidental. Manus’ departure didn’t trigger fireworks, but it did mark a turning point. The…
CLN KraneShares Key News Asian equities delivered mixed performance overnight, as Vietnam outperformed on a trade deal, while Taiwan, South Korea, and Thailand all lagged amid the absence of new deals. News broke that Treasury Secretary Scott Bessent will travel to Stockholm to meet his Chinese counterparts, a potential signal of further thawing in US-China…