E-commerce giant JD.com has sent a letter of complaint to China’s State Administration of Industry and Commerce requesting an investigation into whether rival Alibaba’s policies violate a new regulation forbidding firms from limiting or barring their merchants from participating in other platforms’ promotional events, Reuters reported. JD.com said in its letter its merchants were being […]
Category: Business Practice
Zhang Yun, the president and vice-chairman of the Agricultural Bank of China, has been removed from his post on suspicion of corruption amid a ratcheting up of inspections of Chinese financial authorities by the party’s Central Commission for Discipline Inspection, South China Morning Post reported, citing unnamed sources and local media. Zhang, 56, had been with […]
Billionaire fund manager Xu Xiang of Zexi Investment has been detained on charges of insider trading, The New York Times reported, citing state media. While the Shanghai composite index has risen less than 3% so far this year, the Zexi No.1 Fund, which works with a subsidiary of the state-owned conglomerate China Resources, gained 323% through […]
The inspection of a Pfizer plant in the Chinese city of Dalian by the US Food and Drug Administration revealed that officials there were keeping a second set of quality and manufacturing records to hide quality failures, the use of expired manufacturing materials and other violations, Bloomberg reported, citing details from an FDA report. Pfizer […]
A closer inspection