Two sponsors were slapped with hefty fines in the aftermath of LeEco’s fraud
According to an investigation by the China Securities Regulatory Commission (CSRC), LeEco’s financial fraud began as early as 2007.
China EV maker NIO claims no plans to raise prices in the short term
Recently, several automakers hit by raw material price variations have announced price increases. In response, NIO stated that price stability is beneficial to both users and the market, and NIO has no plans to raise prices in the short term.
Microsoft announced its fifth Azure data centre in China
Microsoft announced the opening of its fifth Azure data centre in China. The new data centre located in North China’s Hebei Province, was officially put into operation on Thursday.
Chinese Online Grocer Dingdong apologises for the food safety issue
Dingdong (Cayman) Ltd, one of the most popular Chinese online grocers, apologised for its food safety issue after being accused of selling expired products.
Alibaba’s former vice president joins DingTalk as COO
Ku Wei, former VP of Ali Group, has been appointed as the COO of DingTalk, an Alibaba-backed all-in-one workplace mobile platform.
Reeling from layoff wave at China’s Big Tech companies, what’s next?
Recently, news of a layoff wave at Alibaba and Tencent landed on micro-blogging platform Weibo’s hot search list.
POP MART is revealed to overhype its mystery toy boxes
On March 16th, POP MART was revealed to overhype its mystery toy boxes during the CCTV 315 Gala.
China’s 12315 platform retrieves 5.5 billion yuan in consumer losses
As a bridge between market regulators and consumers, the 12315 platform and other channels accepted 23.812 million complaints and reports from consumers in 2021.
Meituan e-commerce launches self-operated stores and cross-border businesses
On March 14, Meituan e-commerce launched its self-operated stores, whose operation model is similar to “JD’s self-operated store”.
Alipay’s standard list aids in the protection of rights and interests
On March 11, Ant Group’s Alipay (China) has officially released a list of national, industry, group and enterprise standards.
“Sudden death” scares of Chinese Internet workers
According to the Overwork Report 2021 released by 36kr, 76.1% of young people work overtime frequently and over 30% never leave work on time.
H&M sister brand Monki pulled out of China
Monki, a fast-fashion brand owned by Swedish retail giant H&M, announced the closing of its Tmall flagship store on March 10.