INDUSTRY BRIEF: China regulators intervene in growing food delivery wars
Regulators have stepped in to try to tamp down a growing price war in China’s takeout dining sector. On the evening of May 13, the State Administration for Market Regulation…
BRIEF: Meituan to enter Brazil with $1 billion investment over five years
Food delivery giant Meituan (3690.HK) announced it will expand its Keeta overseas delivery platform into Brazil, following launches in Hong Kong and Saudi Arabia. The company said Keeta will debut…
BRIEF: Synagistics forms AI partnership with ByteDance
E-commerce company Synagistics Ltd. (2562.HK) said on Tuesday it will use AI infrastructure supplied by Chinese internet giant ByteDance to create tools to help its merchants boost their productivity. The…
INDUSTRY BRIEF: Temu and Shein slash U.S. ad spending, warn of price hikes
Chinese-linked e-commerce operators Shein and Temu are slashing their U.S. advertising spending and warning customers of imminent price hikes as the U.S. gets set to start collecting import tariffs on…
BRIEF: Meituan launches $13.7 billion subsidy to support merchants, consumers
Meituan (3690.HK) has pledged to invest 100 billion yuan ($13.7 billion) in the restaurant industry over the next three years, focusing on consumer subsidies, merchant support, incentives for high-quality restaurant…
BRIEF: Shein London IPO approved by British financial regulator
Britian’s financial regulator has approved a London Stock Exchange listing by Shein, bringing the online fast fashion retailer one step closer to its long-awaited goal of becoming a publicly listed…
BRIEF: J&T Express’ first-quarter parcel volume rises 31.2%
Logistics company J&T Express Global Ltd. (1519.HK) announced on Thursday its parcel volume reached 6.6 billion in the first quarter, up 31.2% year-on-year. The company handled an average of 73.3…
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