EU investigates JD.com’s $2.6 BN bid for Germany’s Ceconomy The European Commission is launching an in-depth investigation into Chinese e-commerce giant JD.com’s €2.2 billion ($2.6 billion) bid to acquire German electronics retailer Ceconomy, reports the South China Morning Post. This comes amid mounting tensions between Brussels and Beijing. A preliminary investigation showed that the Chinese firm could have received […]
Category: Consumer
Consumption slowed in China at the end of the first quarter, reports Caixin. This comes as weaker income growth and a declining propensity to spend pointed to fragile domestic demand. Retail sales of consumer goods rose 1.7% year-on-year in March, missing the 2.2% average forecast in a Caixin survey and slowing from the first two months […]
Chinese online shopping site AliExpress said it was improving controls to comply with European Union regulations, reports Reuters. This comes as European lawmakers grilled executives over sales of dangerous and counterfeit products in the bloc. The EU has ramped up scrutiny of fast-growing online platforms like AliExpress, Temu, and Shein which ship cheap products made in […]
Chinese e‑commerce giant JD.com has launched its Joybuy online marketplace in the UK, Germany, France, the Netherlands, Belgium and Luxembourg, reports Reuters. The move sees the company stepping up its push beyond its home market and taking aim at market leader Amazon. JD.com wants to internationalize its business and last year agreed to buy German electronics retailer Ceconomy, owner […]
Bubble tea producer Mixue is planning to build a theme park at its headquarters in Zhengzhou, the capital of central China’s Henan province, reports the South China Morning Post. The park will be based on its Snow King mascot, a singing snowman that has become one of Chinese retailing’s most recognisable intellectual properties (IPs), and offer […]