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.’
The Alibaba restructuring involved fintech affiliate Ant Financial, online travel platform Fliggy, retail, and entertainment units.
Luckin apologized to its employees for the upheaval following its fraud admission in early April, and on the same day removed its CEO and COO.
Tencent stock price drop is not only about China’s crackdown on gaming.
The fintech giants’ licensed online-only banks will be the first of their kind to take part in China’s digital yuan trials.
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.
The two recently invested companies are listed on Beijing’s NEEQ, home to many emerging internet and tech stocks.