Douyin, the Chinese version of TikTok with domestic e-commerce operations, has been slammed for charging exorbitant promotion fees amid insufficient sales by the head of Chinese budget retailer Miniso Group, which runs multiple stores on the ByteDance-owned platform. Miniso founder and chief executive Ye Guofu, 47, levelled his criticism of Douyin via his WeChat post … Read more
PDD Holdings shares plunged by more than 10 per cent in pre-market trading, despite a 44 per cent rise in third-quarter revenue, as concerns around China’s economic slowdown and fierce e-commerce competition weigh on investor sentiment. The owner of the budget-focused shopping app Pinduoduo and its overseas sibling Temu on Thursday reported 99.35 billion yuan … Read more
China’s second-wealthiest man on Wednesday made a surprise demand that the country’s richest man, founder of ByteDance, apologise for the perceived role that TikTok’s Chinese sibling Douyin has played in “spreading rumours and misinformation”. Zhong Shanshan, 69 – founder and chairman of China’s largest packaged drinks company Nongfu Spring and the country’s second-richest person, according … Read more
The original clause – “producing, disseminating, propagating or spreading articles or remarks that are harmful to the spirit or the feelings of the Chinese nation” – has been removed from the article. In the first proposed draft amendment released in September, the clause stipulated six acts that could attract up to 15 days in detention, … Read more
The post went viral after it was carried by the firm’s official social media account, confirming the company’s official stance and drawing praise from nationalist voices on social media platforms. 02:00 Japan sells itself to Global South nations as a China counterweight in Africa, South Asia Japan sells itself to Global South nations as a … Read more
Chinese social media platform Weibo has deleted a number of accounts publishing and spreading a retouched photo of a grey-haired and wrinkle-faced Pony Ma Huateng, Tencent Holdings’ founder and CEO, in the latest example of efforts to protect the country’s top entrepreneurs from online abuse. “A small number of users posted and hyped up false … Read more
