China's e-commerce market sees at least 89 platforms close in 2022 amid Covid-19 controls, fierce competition, weak spending
A number of the platforms that closed shop last year were once backed or funded by Chinese e-commerce giants like Alibaba and JD.com.
Alibaba Group Holding E Commerce Covid 19 Weak Consumer Spending Lagging Domestic Economy Inkshop Com
Source: scmp.com