Douyin Pay was recently added to the app, allowing users to buy virtual gifts for livestreamers and pay for goods on the app’s e-commerce platform.
The US Department of Commerce has told Huawei suppliers that it intents to deny “a significant number of license requests” to Huawei.
US investors will be prohibited from buying Xiaomi shares and will have to divest their holdings by November, according to the executive order.
China’s ride-hailing industry faces more economic uncertainty, more competition, and more regulation. But giant players are poised to thrive post-Covid.
Huawei is losing its status as a smartphone powerhouse in 2021, with a smartphone shipment forecast putting it in seventh place among global vendors.
As sister company Ant Group faces challenges from finance regulators, Alibaba is confirmed to face an anti-monopoly investigation.
China’s “second landlord” platforms have seen a dramatic rise and fall. What led to their fall from grace and who stands to benfit as the industry consolidates?