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.
Turf Wars
US revokes licenses to sell to Huawei, to deny more: report
The US Department of Commerce has told Huawei suppliers that it intents to deny “a significant number of license requests” to Huawei.
Xiaomi shares plunge after US investment ban
US investors will be prohibited from buying Xiaomi shares and will have to divest their holdings by November, according to the executive order.
Drive I/O | The five trends that will reshape ride-hailing in China
China’s ride-hailing industry faces more economic uncertainty, more competition, and more regulation. But giant players are poised to thrive post-Covid.
Huawei to fall to seventh place in 2021 global handset rankings: report
Huawei is losing its status as a smartphone powerhouse in 2021, with a smartphone shipment forecast putting it in seventh place among global vendors.
China launches anti-monopoly investigation into Alibaba
As sister company Ant Group faces challenges from finance regulators, Alibaba is confirmed to face an anti-monopoly investigation.
China Tech Investor: The boom and bust of China’s ‘second landlords,’ with Capucine Cogné
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?