Chinese e-commerce giant JD.com’s founder Richard Liu has taken a step back as CEO to be replaced by current company president Lei Xu. Xu has already performed the CEO role for several months but will now officially hold the title, reports Reuters. Xu, who has worked at JD.com for more than a decade, will start […]
Category: Business Practice
The total dividend payout amount by firms in the CSI 300, which tracks the largest stocks in Shenzhen and Shanghai, is expected to be over RMB 1 trillion ($157.2 billion) for 2021 for the first time, increasing from RMB 395.1 billion in 2021, according to an S&P Global Market Intelligence study, reports the South China […]
European companies in the China market are facing struggles due to supply-chain disruptions and a growing gap between themselves, their customers and their headquarters, as the country’s zero-Covid campaign has ratcheted up quarantine measures making daily operations “unplanned and unpredictable,” reports the South China Morning Post. With the coronavirus troubling 29 of China’s 31 provincial-level […]
China’s second-biggest beer maker, Tsingtao Brewery, posted a 43% surge in net profit to a record RMB 3.1 billion ($486 million) in 2021, mainly due to growth in its premium segment, reports Nikkei Asia. Earnings released Tuesday show a 9% rise in sales to RMB 30.1 billion. Sales of mid- and high-end Tsingtao beers grew […]
China’s second-largest short video company Kuaishou Technology’s revenue beat estimates in the fourth quarter of last year, flying in the face of China’s economic downturn and intensifying competition with rival and TikTok-owner ByteDance, reports Caixin. Kuaishou is joining its peers in embracing a new era of cautious expansion in the country’s giant internet sector. Its […]