Meituan shares drop as woes continue By CHENG YU | China Daily | Updated: 2021-05-12 09:13 Share CLOSE A deliveryman for Meituan, the country s on-demand service platform, delivers food in Beijing. [Photo provided to chinadaily.com.cn]
The share price of Chinese food delivery company Meituan fell 5.25 percent on Tuesday to HK$249,($32.07), after the company was summoned by authorities for harming the rights of deliverymen and consumers.
The company s stock price has fallen nearly 45 percent from a peak of HK$460 per share in February this year, which means that the $206 billion company has lost nearly half of its market value.
The plunge came as Meituan faced fresh scrutiny after a Meituan employee said during a conversation with authorities in Beijing that nearly 10 million registered deliverymen on the company s take-away platform are not regulars, but outsourced personnel.
Beijing Sends Another Signal That Property Tax Reform Is on the Agenda - Gaggle of departments hold seminar to discuss plans for housing levy with local governments, some of whom have long been wary of such reform
Legislation on external affairs to be beefed up
1
Move a crucial step in advancing overall law-based governance, professor says
High-quality laws and adherence to China s opening-up policy must be top priorities as officials look to improve legislation related to external affairs, legal professionals said.
Their remarks came after the Standing Committee of the National People s Congress, the country s top legislature, clarified in its annual work report issued in March that it would upgrade China s legal tool kit to meet challenges and guard against risks in its efforts to oppose foreign sanctions, interference and long-arm jurisdiction.
Ma Yide, a law professor at the University of Chinese Academy of Sciences, said accelerating legislation is key in the development of the nation s legal system regarding external affairs, especially in the face of complex international situations, and is also a crucial step in the advancement of overall law-based governance raise
From:ChinaDaily | 2021-04-28 07:13
The State Council, China s Cabinet, unveiled on Tuesday a high-level leading group to coordinate work related to the protection of minors among various government agencies, as well as judicial and other bodies.
Led by Vice-Premier Sun Chunlan, the cross-departmental group was created to better implement the newly revised Minors Protection Law, said a circular on the website of the State Council.
State Councilor Wang Yong, Zhao Kezhi, another state councilor and minister of public security, and Minister of Civil Affairs Li Jiheng are among the members of the leading panel of the group, headquartered at the Ministry of Civil Affairs, the circular added.
Oversight on livestream sales welcomed By CAO YIN | China Daily | Updated: 2021-04-27 09:44 Share CLOSE A seller introduces farm products during a livestream in Qixian county, Henan province, on Oct 29, 2020. [Photo by Niu Shupei/For China Daily]
Legal experts said a regulation on marketing through internet livestreaming issued last week can help protect the legitimate rights of consumers, purify the online environment and maintain the healthy development of cyberspace.
Seven government agencies, including the Cyberspace Administration of China and the Ministry of Public Security, jointly issued the regulation on Friday. It makes clear that individuals engaged in livestreaming marketing or operations should be aged 16 or above, and it requires livestreaming platforms to blacklist those with records of serious violations, including immorality.