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Alibaba Group

China's market regulator investigates Alibaba-Minmetals JV

China's market regulator investigates Alibaba-Minmetals JV

  • Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.
Published 19 Apr, 2021 05:23pm
Tencent boss meets China antitrust officials as scrutiny widens
Technology

Tencent boss meets China antitrust officials as scrutiny widens

  • The meeting is the most concrete indication yet that China's unprecedented antitrust crackdown, which started late last year with billionaire Jack Ma's Alibaba business empire, could soon target other internet behemoths.
  • Tencent, whose WeChat messaging and payment mobile app is ubiquitous in China, is expected to be the next in line for sharper antitrust regulatory inquiries, said the three people.
Published 24 Mar, 2021 05:41pm
China's Pinduoduo quarterly revenue more than doubles
Business & Finance

China's Pinduoduo quarterly revenue more than doubles

  • The Shanghai-based company reported 788.4 million annual active buyers for the 12 months to the end of 2020, overtaking rival Alibaba Group to become China's largest e-commerce platform by users. Alibaba recorded 779 million annual active buyers during the same period.
  • The 41-year-old Huang, who owns about 30% of Pinduoduo, will also give up his super voting rights.
Published 17 Mar, 2021 07:19pm