More Chinese people are dissatisfied with overtime schedules and voting against “996” with their feet. Bytedance and Kuaishou could start a wave of reforms.
Chinese regulators are about to get a lot more involved in how e-commerce brands set prices, in a crackdown on a practice called price discrimination.
Ride-hailing giant Didi raised $4.4 billion in a New York IPO on June 30. Then, it caught the attention of Chinese regulators.
AntChain’s solutions are already seeing wide global adoption, from cross-border trade, to artwork and food authentication, to the sporting world.
The Shenzhen government issued the most detailed data regulation on data in China yet. The regulation laid the groundwork for future data legislation.
In this episode the guys welcome Emma Lee back to discuss MissFresh and Dingdong Maicai. Key topics include what grocery e-commerce is, who the players in the space are, how they are different, and more.
Chinese social shopping app Xiaohongshu is planning to block external links to Alibaba-owned Taobao in August, after allowing them last year. The ban only applies to Taobao links in Xiaohongshu’s text-based reviews, while those embedded in the app’s livestreaming feature will be still available. [Tencent Tech, in Chinese]
Chinese authorities called for food delivery platforms to guarantee drivers are paid local minimum wages and to provide social insurance. The “Guidelines” also call for platforms to make changes to improve driver safety, including reducing pressure for fast deliveries, and offer better dispute resolution processes. Guidelines are not legally binding until implemented through regulations. The action follows months of public and official criticism of the working conditions of food delivery drivers. [State Administration of Market Regulation press release, in Chinese]
Electric vehicle maker Faraday Future debuted on the Nasdaq on Thursday. The company’s shares gained 1.45% from an issuing price of $13.78 during its first of trading day. The California-based EV startup has no product offerings yet and plans to produce a limited-edition $180,000 EV in the next 12 months. Chinese entrepreneur Jia Yueting, who filed for bankruptcy in 2019, founded Faraday in 2014 and now serves as its chief product and user officer. [CNBC]
Nio announced Thursday it had started exporting vehicles to Norway. The company has shipped an undisclosed number of ES8 premium crossovers from Shanghai Waigaoqiao Port, which are scheduled for September delivery. The Chinese electric vehicle maker exported the first batch of battery charging and swap facilities to Norway earlier this month, after revealing a Europe expansion plan in May. [Nio press release, in Chinese]