TikTok eyes $17.5 billion shopping business on Amazon’s turf
By Bloomberg Published Jan 4, 2024 TikTok aims to grow the size of its US e-commerce business tenfold to as much as $17.5 billion this year, according to people familiar …
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Veteran Chinese video gaming official steps down in wake of market rout linked to proposed rule changes, sources say
A key Chinese official involved in oversight of the country’s video gaming industry has stepped down after proposed regulation last month wiped out billions of dollars of value from Chinese …
Chinese fintech giant Ant Group gets approval for no-controller status, ending Jack Ma’s reign before seeking IPO
China’s central bank has agreed that Ant Group’s mobile payment app Alipay has no controller, a crucial step in the fintech giant’s overhaul deemed necessary to put its much-anticipated initial …
Hong Kong stocks rise to 3-week high as Tencent, NetEase extend recovery, BYD leads EV makers as foreign funds return
Hong Kong stocks rose for a second day to a three-week high. led by gains in top Chinese technology leaders and electric-car makers. Foreign investors bought onshore-listed shares by the …
Hong Kong stocks recover as Tencent, NetEase recoup part of US$63 billion sell-off while new China report aids sentiment
Hong Kong stocks gained as video-gaming companies rebounded after Beijing calmed jitters about tightening industry policing and approved new titles by the most in 17 months. China’s better-than-expected industrial profits …
JPMorgan fund manager: record dividends, buy-backs offer respite from Chinese stock market’s slump
With the Chinese market mired in a painful slump, companies are mounting their defences with record dividend payouts and share repurchases. That should provide income-seeking investors with some comfort with …
China approves 105 video games, but Christmas miracle does not revive stocks after suggested spending curbs
The latest batch of approvals, released by the National Press and Publication Administration (NPPA) on Monday, marked the first time Beijing had approved more than 100 titles in its monthly …
ByteDance sales surpass Tencent’s to reach US$110 billion as TikTok owner pushes into e-commerce
ByteDance’s sales surged in 2023 to more than US$110 billion, according to people familiar with the matter, potentially overtaking arch-foe Tencent Holdings in a sign TikTok’s fledgling e-commerce business is …
ShareChat faces large valuation cut in new funding
ShareChat is in final stages of deliberations to secure about $50 million in new funding that trims the startup’s valuation to below $1.5 billion, according to two sources familiar with …
Nio ET7 Goes 649 Miles On A Single Charge
The Nio ET7 is already one of the highest-range electric vehicles available globally, with its 100-kWh battery pack option giving the large Chinese sedan a range of 435 miles on …