Consumer Economy

Over 240 million users have bought agricultural products on Pinduoduo last year, amounting to USD 19.3 billion in sales.

The investment will help businesses speed up digital transformation to recover from the COVID-19 pandemic.

Equator Pure Nature’s products are derived from a pineapple fermentation process rather than petrochemicals.

Online sales for food and daily goods increased while clothing fell by 15% year-on-year in Q1 2020.

The share price of Ruhnn, the celebrity incubator also involved in the scandal, dived 6.3%.

E-commerce companies had already begun to set things in order to start delivering non-essential products from this week.

Pinduoduo will subscribe to USD 200 million in convertible bonds to be issued by Gome as part of the partnership.

Companies cut marketing and halt expansion to stay afloat.