China’s game live-streamer Huya has agreed to buy a 100% equity interest in Tencent-operated global mobile application service provider, according to Huya’s filings to the SEC, in a deal for cash consideration of $81 million. Huya did not disclose which specific bid was being made in the document. The latest selling comes several weeks after […]

On Dec. 22, Tencent witnessed a decline of approximately $46 billion in market value, while NetEase faced a loss of around $17 billion, after a surprising move by China’s gaming authority, which introduced new regulations targeting excessive gaming and spending. The National Press and Publication Administration of China (NPPA) today issued the approval of 105 […]

Alibaba has promoted six younger figures to lead key operations within Taobao and Tmall on Dec. 22, two days following CEO Eddie Wu taking over from Trudy Dai as the direct leader of Alibaba’s domestic e-commerce marketplaces. The rejuvenated management team further signals that the 24-year-old company is adapting to more flexible strategies as an […]

The Enforcement Directorate (ED) in India, a financial crime-fighting agency, recently arrested several senior executives of Vivo India, including the interim CEO and CFO, as revealed by sources familiar with the matter. In response, a spokesperson for Vivo stated that the company will use all legal means to address these accusations. In October, the ED […]

Alibaba’s supermarket chain Freshippo has suspended new membership subscriptions since Dec. 13, according to local media outlet Yicai, which quoted a Freshippo source. The move comes two months after the grocery retailer introduced large-scale discounts across most of its product range. The activation fee for a one-year membership is RMB 258, which is very close […]

The National Press and Publication Administration (NPPA) today issued Draft Management Measures for Online Games, open for public feedback until January 22, 2024. In future, online games will not be allowed to provide rewards for daily logins, or first-time and consecutive in-game purchasing. All game publishers will be prohibited from promoting or allowing high-priced transactions […]

JD Logistics has shortened individual-to-individual delivery time in Beijing, Shanghai, and seven provinces, the e-commerce giant’s logistics arm announced on Thursday, in a move to grab customers as it fights Alibaba’s Cainiao. The company said recipients could see their delivery from other cities in the same province as early as 8 am the next morning, […]

Chinese air mobility maker EHang said on Thursday that its EH216-S, a passenger-carrying unmanned aerial vehicle (UAV), had been granted China’s standard Airworthiness Certificate (AC), marking it the world’s first unmanned electric vertical take-off and landing (eVTOL) aircraft to receive such certification. The Civil Aviation Administration of China (CAAC) certified EH216-S, produced at EHang’s Yunfu […]