On the evening of July 13, Chinese delivery and e-commerce giant Meituan announced that all preconditions for the items contained in Tencent's subscription agreement had been reached. The estimated net proceeds from the deal are expected to be about $400 million.
China is moving closer to enforcing a new law that would crack down on the invasive practices of the country’s most powerful tech giants, as the draft of the Personal Information Protection Law has been submitted on Monday.
Meituan is facing an anti-monopoly investigation for abusing its dominant position as the government steps up scrutiny of the country’s biggest tech companies.
Chinese e-commerce platforms are thinking about new ways to help consumers obtain cheaper pork. And the online community group buying model is one of the ways.
Meituan Dianping reported a revenue of 24.72 billion yuan ($3.57 billion) in the second quarter of 2020, surpassing the 23.48 billion yuan average estimates.
Chinese food delivery and rating platform Meituan Dianping has recently removed Alibaba’s online payment platform Alipay in its app, Tech Planet reported Wednesday.
Pinduoduo launched Duo Duo University as a local program in Yunnan Province that provides week-long training to equip farmers with important digital skills.
