Alibaba

Chinese regulators have been confronting the boom in digital finance this year and released torrents of new rules, designed to get a firmer grip on the country’s financial system.

JD.com has been enlarging its offline presence to compete in the era of new retail, which merges online and offline shopping.

“The internet industry is not a place outside the anti-monopoly law,” said the State Administration for Market Regulation.

Companies like Alibaba and Meituan use exclusivity agreements and “monopoly clauses” to box in merchants and hobble competitors. That may change soon.

The healthcare unit of JD.com became the youngest unicorn on the Hurun Global Unicorns Index 2020.

An “offline wallet” function will enable mobile payments without the need to be connected to the internet.

In August, Alibaba-backed AutoX opened a robotaxi ride-hailing service in Shanghai.

The tensions between the two countries and the Luckin Coffee accounting scandal pushed the US regulator to move forward and impose new rules.