Apple has removed thousands of apps from its app store in China following a report by state media channel CCTV that pointed out that the American tech company was allowing illegal gambling apps to be sold on its platform, the Financial Times reports. Apple took down 500 apps with the keyword “lottery” in the title […]
Category: Consumer
China’s banking and insurance regulator has told the country’s finance institutions to increase their support for infrastructure investment projects, importers, exporters and creditworthy companies with temporary cash-flow problems, Reuters reports. The statement by the China Banking and Insurance Regulatory Commission, which was posted on the regulator’s website on Saturday evening, appears to be a reaction […]
Faced with various problems domestically and externally, the decision in Beijing seems to be to just pile on the debt. After a year of relatively determined efforts to rein in this debt monster, it was announced this week that the Center had ordered local governments to issue more bonds to spend more money on infrastructure […]
E-commerce giant JD.com disappointed with its quarterly earnings release on Thursday, where it dipped back into loss-making territory from April to June. Despite taking Rmb 122.3 billion ($17.73 billion) in sales during the period – a 31% jump from the same time last year – the market consensus according to a Reuters poll expected sales […]
Tencent reported disappointing quarterly earnings on Wednesday, the same week that regulators dealt a blow to its ailing video game business by taking its latest blockbuster release off the shelves. The tech giant’s net income in the second quarter fell by 2% year-on-year, according to the Wall Street Journal, marking the first y/y decline since […]