Alibaba

The city says it hasn’t issued an appropriate license yet.

Although group-buying has been around in China way before the COVID-19 pandemic, the sector enjoyed renewed popularity thanks to social distancing measures.

Alibaba, Tencent, Baidu, and Meituan have all used variable interest entities to dodge rules on capital activity.

The tragedy calls attention to the lack of workplace protections and benefits for around 200 million gig workers in China.

Major platforms, such as Alipay and JD Finance, removed deposit products last month.

DingTalk has already been the most-used app of its kind before the pandemic.

Here’s a look at the key trends in China’s capital markets.

Chinese consumers are expected to account for 50% of the global luxury market by 2025. Second-hand luxury platforms have also sprung up in China to gain a slice of the market.