China’s Instant Grocery Battle Intensifies as Alibaba Bids $1.5 Billion for Pupu
The move intensifies competition with Meituan in China’s instant grocery delivery market.
The move intensifies competition with Meituan in China’s instant grocery delivery market.
Beijing targets misleading 618 deals by JD, PDD, Alibaba; stocks fall as regulators curb subsidy wars and unclear discounts.
China is cracking down on brokers helping locals invest abroad, restricting accounts to stop illegal money outflows.
JD.com posts modest Q4 revenue growth but swings to a loss due to competition and new investments; announces dividend and buybacks in tough China market.
Chinese regulators dispatch 100+ investigators to PDD Holdings' Shanghai headquarters following employee clashes with officials. Investigation covers fraud allegations and tax issues, triggering stock decline.
Chinese food delivery stocks surge as regulators investigate price wars. Meituan, Alibaba, and JD.com rally on hopes authorities will end costly subsidy battles.