Jack Ma, co-founder of technology giant Alibaba. Wang HE/Getty Images Temu’s parent company, PDD Holdings, is currently more valuable than Alibaba. PDD’s market capitalization overtook Alibaba a day after Jack Ma praised the rival e-commerce upstart. PDD’s market cap is nearly $185 billion, while Alibaba’s market cap is nearly $184 billion. Chinese tech giant Alibaba … [Read more…]
[1/4]People walk along the Nanjing Pedestrian Street, a main shopping district, ahead of the National Day in Shanghai, China, September 26, 2023. Portal/Aly Song/File Photo Acquire License Rights Consumer Price Index (November) -0.5% year-on-year versus -0.2% in October Consumer Price Index November -0.5% month-on-month versus -0.1% in October November PPI -3.0% YoY versus -2.6% in … [Read more…]
Mobile games in China range from League of Legends-like Honor of Kings to Source: Apple Inc. BEIJING – China’s proposed gambling rules would hit smaller developers more than large ones while reducing overall online advertising revenue, according to UBS. Shares of Tencent, NetEase and Bilibili plunged to their lowest levels in more than a year … [Read more…]
Florence Lo/Portal In this illustration image, a Tencent Games app logo is seen on a mobile phone. Portal/Florence Lo/Illustration Hong Kong CNN – Shares of several Chinese tech giants slumped in Hong Kong on Friday, shedding billions from their total value, after Beijing unveiled a series of new regulations to curb online spending in the … [Read more…]