6 Min Read
SINGAPORE/BEIJING (Reuters) - Zhang Yiming will step down as chief executive of TikTok-owner ByteDance, handing over to college roommate, long-time colleague and current human resources head Liang Rubo.
FILE PHOTO: Zhang Yiming, founder and global CEO of ByteDance, poses in Palo Alto, California, U.S., March 4, 2020. Picture taken March 4, 2020. REUTERS/Shannon Stapleton
Zhang, 38, turned ByteDance into a social media powerhouse which has also had many brushes with global regulators.
This is a timeline of key events in the emergence of ByteDance and TikTok.
2012 - Zhang Yiming founds ByteDance in Beijing.
2016 - Launches Douyin, the Chinese version of TikTok.
By Reuters Staff
1 Min Read
BEIJING, April 15 (Reuters) - An official of China’s market regulator said on Thursday that the authority will step up inspection in major anti-monopoly cases in accordance with the law, state news agency Xinhua reported.
The regulator will further enhance supervision ability to protect interests of consumers, said Liu Weijun, head of the Department of Certification Regulation at the State Administration for Market Regulation (SAMR). (Reporting by Beijing newsroom; Editing by Toby Chopra)
By Reuters Staff
1 Min Read
TORONTO, April 16 (Reuters) - Canadian asset manager Purpose Investments Inc said on Friday that it has been cleared by Canadian securities regulators to launch the first direct custody Ether exchange traded fund in the world.
The Purpose ETF is designed to provide investors with exposure to the cryptocurrency by investing directly in physically settled Ether tokens, Purpose Investments said. In February, the company launched the world’s first Bitcoin ETF. (Reporting by Fergal Smith; Editing by Leslie Adler)
A dozen Chinese Internet platform companies pledged to avoid anti-competitive behaviors such as forcing vendors to use their platform exclusively, according to a statement on Wednesday from the State Administration for Market Regulation.
China's Alibaba does not expect any material impact from changes to its exclusivity arrangements with merchants, CEO Daniel Zhang said on Monday, after regulators fined the e-commerce giant a record $2.75 billion for abusing its market dominance.