China Newsbase
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The China News Database was last updated at 01:50PM on November 9, 2023.
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138 articles matching the search query.
JD.com, Meituan, Didi, Bilibili are in Suzhou's digital yuan trial · TechNode
Suzhou lottery winners can spend their RMB 200 of the digital yuan at JD.com, Didi, Meituan, or Bilibili—or pay their Party dues.
Why China's Cracking Down on Tech Giants Ant, Alibaba, Tencent
China’s hands-off approach to the technology sector has minted billionaires and giant companies at a breathtaking pace. Now President Xi Jinping’s government is reining in the country’s most powerful corporations, including Alibaba Group Holding Ltd., Tencent Holdings Ltd and Didi Global Inc., along with their ultra-rich founders. The scrutiny is shaping up as one of the largest concerted actions against private enterprise in decades and raising the prospect that the leeway enjoyed by entreprene
Down $290 Billion, China Tech Investors Mull Nightmare Scenarios
With 22 pages of vaguely worded edicts, China has cast doubt on the future of its biggest internet companies and ignited a $290 billion equity selloff.
Meituan blocks payment via Alipay as rivalry intensifies · TechNode
The move highlights efforts from Meituan to fend off competition from Alipay, which is moving into the local services sector—Meituan's home turf.
Meituan is testing a group buying feature for food deliveries · TechNode
Meituan is taking a leaf out of Pinduoduo’s book by integrating social elements to its food delivery business hoping boost user engagement.
Missfresh racks up $495 million in funding as China’s e-grocery booms
The COVID-19 lockdown around the world introduced online grocery to many shoppers for the first time, boosting an industry that had long drawn skepticism. In China particularly, the older generations often worry about buying perishable food items without scrutinizing them in person. Still, venture investors are bullish on the future of online grocery. One beneficiary […]
China to Expand Digital Yuan Test to Tencent-Backed Meituan
China’s central bank is planning to test its digital currency on platforms operated by Meituan Dianping, enlisting the food delivery giant backed by Tencent Holdings Ltd. in a major step toward the token’s mass adoption.
Jack Ma Chieftain Simon Hu Lays Out Plan to Fend Off Tencent
Billionaire Jack Ma’s newest chieftain is accelerating Alipay’s evolution into an online mall for everything from loans and travel services to food delivery, in a bid to claw back shoppers lost to Tencent Holdings Ltd.
As Chinese listings 'migrate' from U.S. to Hong Kong, it could attract more than $500 billion to the city
Currently, companies listed in the U.S. can have a secondary listing on the Hong Kong Stock Exchange. But, before the latest rule change, they could not be included in the benchmark HSI.
Meituan Dianping Founder Wang Xing Boosts Fortune to $10 Billion
Meituan Dianping founder Wang Xing’s fortune has nearly doubled since his company emerged from the depths of China’s Covid-19 lockdown, cementing his place among a generation of the country’s most prominent tech entrepreneurs.
Meituan says Covid-19 effect to extend beyond Q1 losses · TechNode
Meituan Dianping reported first quarter losses that were smaller than expected, with its core food delivery business showing signs of rapid recovery.
Tencent-Backed Meituan Joins $100 Billion Club After Sales Beat
Meituan Dianping’s shares soared after it reported a smaller than expected 13% slide in revenue that drove hopes the world’s largest meal delivery business is starting to recover as China emerges from Covid-19 lockdowns.
Hong Kong Opens Door for Alibaba in Index Overhaul
Alibaba Group Holding and other Chinese technology companies appear set to join Hong Kong’s main stock benchmark, after the compilers of the city’s flagship Hang Seng index revamped their inclusion rules.
Meituan Rejects Claims It Exploited Restaurants During Virus
China’s largest food-delivery site Meituan has hit back against allegations that it charged onerous commissions to restaurants during the Covid-19 outbreak, underscoring the delicate balance the company must strike to get its business back on track.
Meituan challenges ecommerce giants with cosmetics, smartphone delivery
Meituan users can order a Huawei P40 on the app and have it delivered to their homes in an hour.
iPhone to your door: Chinese firms test super-fast phone delivery as coronavirus caution remains
Even though infection numbers have declined sharply from the peak in China, analysts warned that consumers are still cautious about going outside and so quick deliveries could be a way to reach them.
Meituan faces challenge from Alipay on its home turf · TechNode
Meituan faces a renewed challenge from Alibaba in local lifestyle market as Alipay drives users to in-ecosystem services.
Meituan is shuttering its cloud business · TechNode
Chinese food delivery and services platform Meituan Dianping is shutting down its public cloud service in order to retain focus on its core businesses.
China’s ecommerce giants deploy robots to deliver orders amid coronavirus outbreak
Meituan put its autonomous delivery vehicles on public roads for the first time, while JD.com and Ele.me are sending robots into quarantine areas.
China State Firm’s $6 Billion Loss Is Among Nation’s Worst Ever
A distressed Chinese fertilizer company said it may report one of the nation’s biggest-ever annual losses, sparking a slump in its shares and underscoring the challenges faced by some pockets of corporate China as the economy slows.
