China summons Pinduoduo, JD.com over misleading advertising

    China summons Pinduoduo, JD.com over misleading advertising

    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,…

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      BABA, JD, PPD Drop Overnight As China Reprimands E-com Giants Over Misleading Ads

      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…

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