China’s second-largest e-commerce firm JD.com Inc has appointed Jason Hu, a former managing director at a Chinese private equity firm, as head of strategic investment to oversee deals both at home and overseas.
Chinese microblogging website Weibo has taken down an Instagram-like app just days after its launch and apologised after accusations of plagiarism about the app's logo, a stumble in efforts to find new sources of growth.
China's top technology, e-commerce and consumer electronic firms are set to report a sharp slowdown in revenue growth for the June quarter, as a bruising trade war with the United States hurt consumer spending.
Chinese e-commerce leader Alibaba's quarterly revenue beat analyst estimates on Wednesday, indicating that the Sino-US trade tiff and a slowing domestic economy were having little impact on the bottom line.
Chinese e-commerce firm JD.com’s revenues grew at their slowest pace on record in the first quarter as China’s tech giants start to tap out their existing user bases, though its 21% expansion marginally beat forecasts.
Chinese police have arrested 32 members of a group they said made and sold up to 100 million yuan ($14.8 million) worth of counterfeit luxury goods from brands such as Louis Vuitton and Loewe, news agency Xinhua said.