Chinese e-commerce startup Pinduoduo has posted an extraordinary surge in losses in its first results as a public company, with the company’s expenses rising far quicker than its revenues, the Financial Times reports. The company, which is trying to shake up China’s e-commerce market using a group-buying model that offers users huge discounts, has struggled […]
Category: Consumer
Three of China’s “big four” state-run commercial banks reported year-on-year profits growth above 5% for the first half of 2018, suggesting that they have an advantage over smaller competitors that are struggling due to the country’s crackdown on financial risk, Caixin reports. China Construction Bank reported profits were up 6.5%, while Bank of China’s profits […]
China’s leaders have sent another signal that they will soon scrap limits on the number of children parents are able to have by publishing a draft civil code with no mention of the controversial policy, Caixin reports. The new civil code, which could come into force as early as 2020, would replace existing laws that […]
Chinese President Xi Jinping appears to have successfully shored up his power base in Beijing since returning from the Communist party’s annual summer break and shows no sign of changing course on his major policy initiatives, according to the South China Morning Post. The annual vacation for China’s top leaders in the northern beach resort […]
The United States plans to resolve its trade issues with Europe, Canada and Mexico before shifting its focus to China, US Treasury Secretary Steven Mnuchin said Tuesday. “We’ve put [Washington’s foreign trade objectives] in three categories: the first was really [the North American Free Trade Agreement, or Nafta]; the second is dealing with the EU, […]