China

Walmart could leverage TikTok’s backend and a partnership with ByteDance to create social commerce platforms for the next generation of shoppers.

And there are more penalties coming its way.

Ride-hailing services from Tencent Map are expected to be expanded nationwide before the National Day holiday.

Founded in 2015 in Shanghai, WM Motor launched its first model EX5 at the end of 2018, and the second model EX6 Plus in the fourth quarter of last year.

JD Health has grown into China’s largest online pharmacy by revenue and was valued at USD 7 billion as of September 2019.

Pinduoduo predicts annual gross merchandise volume on its platform from agriculture to exceed RMB 1 trillion (USD 146 billion) in annual GMV in five years.

Its valuation also increased to USD 250 billion.

Perfect Diary plans for a US IPO before the end of this year, with Goldman Sachs and Morgan Stanley as underwriters.