China’s top market regulator has fined a subsidiary of short-video giant Kuaishou Technology RMB 26.7 million($3.8 million) for a range of violations, reports Caixin, including inflating sales data and enabling the illegal trade of wildlife products. The State Administration for Market Regulation (SAMR) on Friday imposed the penalty on Chengdu Kuaigou Technology, a wholly owned e-commerce […]
Category: Law & Regulation
China has given approval for three of its largest tech companies to buy Nvidia’s H200 chips, reports Reuters, citing four people familiar with the matter. ByteDance, Alibaba and Tencent have been approved to purchase more than 400,000 H200 chips in total, with other firms now joining a queue for subsequent approvals, the sources said, speaking on […]
At least 70% of European companies operating in China were reviewing their supply chain strategies, reports the South China Morning Post, citing a survey from the European Chamber of Commerce. This comes in response to geopolitical tensions and Beijing’s opaque policymaking, which appears to set back the country’s globalization efforts, according to the survey. 324 corporate […]
China is reviving a lottery-style tax receipt program across 50 cities in an effort to revive weak consumer spending and tighten tax enforcement, reports Caixin. The six-month trial lets consumers enter prize drawings by requesting an official tax invoice—known as a fapiao — for purchases over RMB 100 ($14). The initiative, outlined in documents from the […]
Texas will bar its employees from using Shein, Alibaba and TP-Link hardware and software, reports Reuters. The announcement was made by the governor, saying his state made the decision to protect the “privacy of Texans” from the Chinese government. The list also includes online commerce platform Temu and battery maker CATL, according to the statement from […]