Chinese e-commerce giant Alibaba Group Holding Ltd has fired Zhao Yan, the head of its fast-growing livestreaming division, on grounds of nepotism and accepting gifts, according to an internal memo … ( read original story…
Tagged By business
China Police Said to Detain Crypto OTC Traders Amid Money Laundering Crackdown
Chinese police are stepping up efforts in cracking down on illegal economic activities, which now leads to crypto over-the-counter (OTC) traders being detained to assist investigations. ( read original story …)
China Market Update: US Investors’ Home Bias: Please Don’t Notice China Bull Market
Year Average Mainland China volume nearly 2X 1-Year Average Northbound Stock Connect volume 2X 1-Year Average$2.421B of foreign buying on the Mainland China via Northbound Connect Asian equities rode … ( read original story …)
U.S. Warns Businesses Over Supply Chains Tied to Rights Violations in China
The administration said companies face legal risks for involvement with entities in China blamed for human-rights abuses, including the mass detention of Uighur Muslims. ( read original story …)
U.S. House passes bill to sanction Chinese banks over Hong Kong
The U.S. House of Representatives passed legislation on Wednesday that would penalize banks doing business with Chinese officials who implement Beijing’s draconian new national security law imposed on … ( read original story …)
China demands info from 4 media companies in response to US
China is demanding staff and business information from four U.S. media companies including The Associated Press in what it calls a necessary response to similar demands by Washington on Chinese state- … ( read original…
JD.com’s fintech arm prepares for IPO in Shanghai’s Star Market
JD Digits, formerly known as JD Finance, has expanded its range of activities to include projects in artificial intelligence, blockchain and data technologies. ( read original story …)
IPO Launch: Quhuo Limited Readies Plan For $27 Million U.S. IPO
Quhuo Limited (QH) intends to raise $27 million in an IPO of ADSs representing underlying Class A shares, according to an amended registration statement. The company hires and manages personnel for on … ( read…
JD.com fintech unit is planning a STAR Market IPO
The initial public offering plan for JD Digits is part of a broader timetable to take JD.com affiliates public over the next two years. ( read original story …)
China Beauty Firm to Pick Goldman, Morgan Stanley for IPO
The Chinese company behind the fast-growing Perfect Diary cosmetics brand has picked Goldman Sachs Group Inc. and Morgan Stanley to prepare for a potential initial public offering, according to people … ( read original story…
China Tech Giant Tencent Duped By Saucy Scammers
The dispute between Tencent — owner of the WeChat app — and legendary Chinese sauce Lao Gan Ma heated up this week when a court in the southern city of Shenzhen announced it would freeze…
Apple to China 5G iPhone Manufacturers: Ramp it Up Stat
Apple is reportedly putting pressure on its China suppliers to ramp up production of its pending 5G-enabled iPhones amid what it expects to be hot demand. ( read original story …)
IPO Update: Quhuo Limited Proposes U.S. IPO Terms
Quhuo Limited has filed to raise $27 million in a U.S. IPO. The firm provides staffing services to on-demand companies in China. QH has grown quickly but is fac … ( read original story …)
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