The downsizing follows a round of restructuring earlier this year, as Netease seeks to increase its focus on its two main businesses — e-commerce and gaming.
A previous restructuring last May helped boost its faltering finances.
The newly-formed department will be considered the cradle of “new growth engines.”
The murder of two passengers has exposed Didi and China’s ride-hailing industry to increased scrutiny.
Alibaba restructures business structure two months after Tencent.
The law doesn’t just prohibit fake products and reviews on shopping sites like Taobao.
The restructuring follows reports that Xiaomi is trying to become ‘more regulated.’
Tencent stock price drop is not only about China’s crackdown on gaming.
The investment and cooperation agreement with Xiaomi could streamline TCL’s move away from consumer electronics.
Both parties have agreed to drop all litigation against each other.