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Education startups IPO plans were damped as China announced more regulation on the industry, which it saw as putting too much pressure on school children.
(Bloomberg) -- Jessica Liu, president of Lazada Group, is leaving the Southeast Asian online shopping unit of Alibaba Group Holding Ltd.
BENGALURU (Reuters) -Tata Sons has acquired a majority stake in online grocery seller BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon.com Inc, Walmart's Flipkart and Reliance Industries.
Bytedance founder Zhang Yiming, the brains behind TikTok, said he preferred “daydreaming” as he stepped down as head of his own firm last week. But his departure comes as several of China’s once-lauded tech entrepreneurs step aside under increasing scrutiny from a government concerned about their growing power and influence.
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Three companies have been granted licences to test self-driving delivery vehicles at an economic and technological development zone. China is under pressure to develop autonomous technology as its population ages and labour pool shrinks.
Beijing’s crackdown on its tech giants is fuelling a noticeable phenomenon: it’s opened the spending floodgates.
Since early May, product listings from some of the biggest Chinese electronic gadget vendors have vanished from Amazon’s online marketplace. The share of China-based sellers on Amazon’s US site has surged to 63% this year.
HONG KONG: The prediction was vintage Jack Ma, as provocative as it was prescient.