Chinese online housing firm Ke Holdings, also known as Beike, is starting a new round of layoffs, Chinese media outlet the Paper reported on Tuesday. The job cuts will affect the company’s research and development, operations, and mid- and back-end services the report says, citing people with knowledge of the matter. The Beijing-based firm reportedly downsized its operations in its second-hand and new property transaction services groups in March. At that time, the company refuted the rumored headcount reduction. China’s widespread tech layoff, which has impacted most of the country’s tech majors – from big-name behemoths such as Alibaba and Tencent to vertical unicorns such as Bilibli – shows no signs of ending just yet. [The Paper, in Chinese]
NFT market is also bustling with new projects in China. That may come as a surprise for people familiar with China’s strict crypto policy.
The annual meetings of the National People’s Congress (NPC) and the advisory Chinese People’s Political Consultative Conference (CPPCC) being held this week are most important for the windows they provide into the government’s economic targets and policy priorities in the coming year. But the so-called “two sessions” meetings also enable some top private enterprise executives who are […]
Meituan faces a profit squeeze as Chinese regulators order platforms to cut fees to help small businesses.
Several Alibaba affiliated apps now support Tencent’s WeChat Pay, a rival of Alibaba’s Alipay. The apps include food delivery service Ele.me, video app Youku, e-commerce site Kaola, entertainment ticketing platform Damai, and online reading app Shuqi. The change came less than a month after Beijing asked companies to stop blocking links to rivals’ services. Other Alibaba apps such as second-hand trading service Idle Fish and grocery app Freshippo are waiting for Tencent’s approval to support WeChat pay. [Sina Tech, in Chinese]
Emerge is TechNode’s annual conference about emerging trends in China tech. It presents a strategic and forward-looking view of China’s tech sector in English with voices from experts and representatives of leading companies.
MissFresh, Dingdong Maicai, two Chinese online grocers, filed for US IPOs. JD.com and its logistic branch are expanding overseas.
Crypto exchanges are shutting off Chinese users from derivatives trading. A government official said digital yuan could run on Ethereum.
Aihuishou, a Chinese electronics resale platform backed by JD.com, filed an application for an IPO on the New York stock exchange on Friday.
Re-commerce, or secondhand shopping, is growing fast in China. But users are finding scams and counterfeits mixed in with the bargains.