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Chinese Tech Stocks Rally After Anti-Monopoly Pledge as Regulators Sharpen Claws

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Regulators fined Alibaba a record $2.8 billion over the weekend for stifling competition in online retail, then met with affiliate Ant on Monday and ordered it to restructure as a financial holding company.
Then on Tuesday, the State Administration for Market Regulation warned 34 Chinese "internet platforms" in a meeting to learn from the crackdown on Alibaba and submit a plan for compliance with anti-monopoly practices within a month.
Chinese regulators have focused their attention in recent months on Jack Ma's e-commerce giant and its fintech affiliate Ant Group, whose giant IPO was abruptly suspended in November. Authorities had begun investigating Alibaba in December, primarily for a practice of forcing merchants to choose one of two platforms, rather than allowing them to work with both.

China requires 'self-correction' of monopolistic behaviour by 34 local web giants • The Register


SAMR will follow up with inspections and any companies it finds still using anti-competitive practices “will all be severely punished in accordance with the law.”
Chinese journalist Zichen Wang, who writes an English-language blog that interprets Chinese policy, wrote that SAMR wants to stamp out the following activities:
“Er xuan yi,” literally, “choose one out of two,” meaning punishing merchants from selling on rival platforms;
Abuse dominant position in the market;
Buying out leading but small entrants to a burgeoning market;
Burning through cash to grab market share in community group buying;
Discriminating against certain users based on big data;

Tech firms pledge to comply with PRC antitrust law


Tech firms pledge to comply with PRC antitrust law
‘SEVERE CONSEQUENCES’ POSSIBLE:
Twelve firms followed a request by regulators to issue compliance statements and undergo what it called ‘complete rectification’
Bloomberg
Meituan (美團), ByteDance Ltd (字節跳動) and JD.com Inc (京東) were among 12 Chinese technology firms that issued pledges to obey antitrust laws yesterday, a day after Beijing gave the companies one month to conduct internal reviews and comply with Chinese government guidelines.
Pinduoduo Inc (拼多多), Baidu Inc (百度) and Sina Weibo (新浪微博) were also among firms that published their commitments in a statement on the Web site of the Chinese State Administration for Market Regulation.

Suning's rural retailer Retail Cloud (Ling Shou Yun) Completes Series A Financing

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/PRNewswire/ -- Suning.com (002024.SZ), China's leading smart retail service provider and a Fortune Global 500 company owned by Suning Group, today announced...

China to further ease market access for foreign firms in Hainan Free Trade Port

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SOURCE / ECONOMY
By GT staff reporters Published: Apr 12, 2021 07:02 PM
Tourists in Qionghai, Hainan Province on April 4 Photo: VCGChina is ready to announce soon a series of policy measures for the Hainan Free Trade Port, including a reduced negative list for cross-border trade in services, aiming to further open up a wide range of sectors for foreign firms, including energy, food, electronics and machinery, officials said on Monday.  
A draft of the negative list has been completed and the corresponding procedures are in progress, and 28 measures to further promote liberalization and the facilitation of trade will be released "in the coming days," Wang Shouwen, vice commerce minister, told a press conference in Beijing.

Hainan to be focal point of reforms

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Hainan to be focal point of reforms
By SHI JING in Shanghai and OUYANG SHIJIA in Beijing |
CHINA DAILY |
Updated: 2021-04-10 07:06
A view of Sanya Bay in Hainan province. [Photo provided to chinadaily.com.cn]
Guideline sets out 33 detailed measures to further facilitate free trade on island
The central government on Friday launched a series of financial measures to turn Hainan Free Trade Port into a focal point of China's deepened reforms, showing the nation's latest efforts to further open up to the world, said experts.
The People's Bank of China, together with three other top financial regulators, released on Friday a guideline with 33 detailed measures, which are set to further facilitate free trade in Hainan, perfect its financial market system, further open up its financial market, enhance innovation, improve financial services and strengthen financial regulation.

Hainan to be focal point of reforms--China Economic Net


 
The central government on Friday launched a series of financial measures to turn Hainan Free Trade Port into a focal point of China's deepened reforms, showing the nation's latest efforts to further open up to the world, said experts.
 
The People's Bank of China, together with three other top financial regulators, released on Friday a guideline with 33 detailed measures, which are set to further facilitate free trade in Hainan, perfect its financial market system, further open up its financial market, enhance innovation, improve financial services and strengthen financial regulation.
 
The guideline will also help to strengthen Hainan's weak links and consolidate its financial base, the central bank said on its official website.

Man Utd transfer news: Neves targeted as Wolves eye sale

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Wolves are readying themselves to sell the Portugal international, along with a handful of their other big names.
90min understands that is because parent company Fosun are looking to restructure their commitment to the club, and while they are not pulling out altogether - like fellow Chinese firm Suning have with Jiangsu and Inter - super agent Jorge Mendes has been instructed to find buyers and arrange potential deals for some of their top players.
Mendes was largely responsible for assembling much of Wolves' current squad, using his knowledge and contacts in the Portuguese market to bring in a host of talents in recent years. Aside from Neves, who was Porto captain at 18 prior to joining Wolves, that has included the likes of Joao Moutinho, Rui Patricio, Nelson Semedo, Raul Jimenez, Daniel Podence and Pedro Neto.

Once China's richest man, Gome founder Huang Guangyu hopes e-commerce can revive floundering electronics empire

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Gome’s founder announced ambitious expansion plans in bricks-and-mortar shops and entertainment offerings in its app
After being surpassed by Suning.com, JD.com and Alibaba, Gome faces a tough challenge to regain ground lost after its founder was sent to prison for insider trading

Tencent bets billions on gamers with more fans than NBA stars

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MONEYWEB
app instead?
Tencent has placed pro gaming at the heart of its ambition to dominate online entertainment.
By Zheping Huang, Bloomberg
8 Apr 2021 
07:41 
Image: Hu Chengwei/Riot Games Inc/Getty Images.
At the height of the global pandemic in October, more than 6 000 people packed into a new 25-acre stadium in Shanghai to watch one of the world’s biggest sporting contests. Another 45 million tuned in online, about as many as watched the six games of the 2020 NBA Finals on TV. The matchup was the League of Legends world championship — a watershed moment for competitive gaming and its organiser Tencent.
Asia’s most valuable company has set its sights on a billion-dollar esports arena that already boasts more regular viewers than the National Basketball Association or the National Football League. Tencent has placed pro gaming at the heart of its ambition to dominate online entertainment, from mobile games and video streaming to social media. It’s betting that esports will entice and retain the internet audiences it needs and eventually grow to something approaching the $10-billion-plus NBA.

Winning ugly is the hallmark of Conte's coaching success

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ROME (AP) — Antonio Conte is a master at winning ugly.
He did it as a defensive, over-achieving midfielder at Juventus who was able to take advantage of opponents’ weaknesses.
He did it in his first major coaching success when the bruising defensive trio of Andrea Barzagli, Leonardo Bonucci and Giorgio Chiellini suffocated opposing strikers for the Bianconeri.
He did it with a more defensive approach at Chelsea that produced Premier League and FA Cup titles.
And he’s doing it again at Inter Milan, where his relentless efforts have transformed 21-year-old center back Alessandro Bastoni into a pillar of his favored three-man defense and talented midfielder Christian Eriksen into a sacrificial team player.

Winning ugly is the hallmark of Conte's coaching success | Taiwan News

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2021/04/08 21:30
Inter Milan's head coach Antonio Conte with his player Romelu Lukaku, center, after the end of the Serie A soccer match between Inter Milan and Sassuo...
Inter Milan's head coach Antonio Conte with his player Romelu Lukaku, center, after the end of the Serie A soccer match between Inter Milan and Sassuolo at the San Siro Stadium in Milan, Italy, Wednesday, April 7, 2021. Inter Milan win the game 2-1. (AP Photo/Antonio Calanni)
Inter Milan's Romelu Lukaku celebrates after scores against Sassuolo during the Serie A soccer match between Inter Milan and Sassuolo at the San Siro ...
Inter Milan's Romelu Lukaku celebrates after scores against Sassuolo during the Serie A soccer match between Inter Milan and Sassuolo at the San Siro Stadium in Milan, Italy, Wednesday, April 7, 2021. (AP Photo/Antonio Calanni)

Smart home appliances going to head of class

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Smart home appliances going to head of class
By MA SI |
China Daily |
Updated: 2021-04-07 10:05
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An attendee checks out air conditioners displayed at a Skyworth booth during the 2021 Appliance & Electronics World Expo in Shanghai on March 24. [Photo provided to China Daily]
China's home appliance market is expected to return to pre-pandemic levels this year as high-end and smart products grow in popularity, according to a report from the China Center for Information Industry Development, a Beijing-based think tank.
The report showed that the retail sales in China's household appliance market reached 833.3 billion yuan (127.4 billion) in 2020, marking a year-on-year decline of 6.5 percent.

E-commerce becomes a vital tool for poverty alleviation in China

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E-commerce becomes a vital tool for poverty alleviation in China
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E-commerce has emerged as a vital tool for poverty alleviation in China's rural areas. Helping to connect agricultural products in poor areas with vast urban markets, it also provides stable and reliable sales channels for high-quality agricultural products.
Take Wangdazhuang village in Ningling county in central China's Henan province as an example. The per capita annual income of 500 farmers in the village used to be less than 4,000 yuan (about $561).
Thanks to the e-commerce poverty alleviation system of Suning, a retail giant in China, some farmers have planted cash crops such as dandelion, while others work in farms or factories in their spare time. At present, their per capita annual income has increased to about 5,000 yuan (about $700).

E-commerce Market to be Worth $16,215.6 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research


E-commerce Market to be Worth $16,215.6 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research
"E-commerce Market
by Business Model, Browsing Medium, Payment Mode (Card Payment, Bank Transfer, Digital Wallet), Offering (Travel, Electronics, Beauty & Fashion, Household, Pharmaceuticals, Food & Beverages), and Region - Global Forecast to 2027", the e-commerce market is expected to grow at a CAGR of 22.9% from 2020 to reach $16,215.6 billion by 2027.
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4644
E-commerce refers to the buying or selling of goods and services through electronic mediums, mostly through the Internet. This market is majorly driven by rising penetration of the Internet and smartphones, growing dependency on social media to promote e-commerce platforms, growing omni-channel business models, and the advent of new payment modes. In addition, e-commerce automation offers immense growth opportunities for players operating in the e-commerce market. However, online frauds and cybersecurity issues are some factors restraining the market growth. Moreover, local laws and regulations for international e-commerce and trust deficit due to touch and feel experience are the major challenging factors for the overall market growth.

Smart home appliances going to head of class-Eastday


From:ChinaDaily   |  2021-04-07 10:05
China's home appliance market is expected to return to pre-pandemic levels this year as high-end and smart products grow in popularity, according to a report from the China Center for Information Industry Development, a Beijing-based think tank.
The report showed that the retail sales in China's household appliance market reached 833.3 billion yuan (127.4 billion) in 2020, marking a year-on-year decline of 6.5 percent.
But such figures still showcased strong resilience amid the COVID-19 pandemic, the report said. Affected by the contagion, the first quarter of 2020 saw large-scale contraction with a year-on-year decrease of 35.8 percent in sales of home appliances, but then performance gradually improved. In the fourth quarter, online and offline markets fully recovered, and retail sales reached the highest annual level at 294.1 billion yuan.

Chinese football urged to 'add glory' to ruling Communist Party

The first website about watching soccer on TV and online. TV schedules, OTT news + interviews with soccer broadcasters. Founded 2005.

Chinese Super League season to begin April 20 - World Soccer Talk


Chinese Super League season to begin April 20
Shanghai (AFP) – The new Chinese Super League season will begin on April 20 and teams will be concentrated in two cities to help thwart the coronavirus, media said Thursday.
It will be similar to last season’s CSL, when the 16 clubs were housed in two hotels, in two locations, and kept away from the public to prevent infections.
For the new campaign, half of the teams will be stationed for the first phase in the southern city of Guangzhou and the other half in Suzhou, near Shanghai.
Fabio Cannavaro’s former champions Guangzhou will be based in their home city.

Chinese Super League Season To Begin April 20

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Chinese Super League season to begin April 20
Thu 01st April 2021 | 05:20 PM
Shanghai, April 1 (UrduPoint / Pakistan Point News - 1st Apr, 2021 ) :The new Chinese Super League season will begin on April 20 and teams will be concentrated in two cities to help thwart the coronavirus, media said Thursday.
It will be similar to last season's CSL, when the 16 clubs were housed in two hotels, in two locations, and kept away from the public to prevent infections.
For the new campaign, half of the teams will be stationed for the first phase in the southern city of Guangzhou and the other half in Suzhou, near Shanghai.

Wanda Aims for Hong Kong Listing After Zhuhai Govt Deal

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Mingtiandi
Username
Wanda officials put their signatures to the agreement with the Zhuhai government on Monday
Dalian Wanda Commercial Management Group appears to be setting the stage for a return to the Hong Kong stock exchange after receiving fresh backing from a southern Chinese city’s government.
The property arm of billionaire Wang Jianlin’s Beijing-based Wanda Group announced Monday that it had signed an agreement that day under which the State-owned Assets Supervision and Administration Commission (SASAC), an entity controlled by the government of Zhuhai, would invest RMB 3 billion ($460 million) in a firm spun out from the once highflying developer.

How Suning Empowered Micro, Small and Medium-Sized Businesses with a Pioneering Furniture and Household Goods Retail Store in the Cloud

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NANJING, China, March 28, 2021 /PRNewswire/ -- On March 20, 2021, Suning.com (002024.SZ), China's leading smart retail service provider and a Fortune Global 500 company owned by Suning Group, opened its inaugural Suning Retail Cloud furniture and household goods shopfront in Jintan District, Changzhou, a prosperous city in eastern China's Jiangsu province.
Chen Yun, the owner of the store, jumped at the economic opportunity of Changzhou city and chose to return to his hometown to start a business
The inaugural Suning Retail Cloud furniture and household goods shopfront opened in Jintan District, Changzhou
As an important business sector that aims to help micro and small business merchants thrive in lower-tier cities and county-level markets in China, Suning Retail Cloud was officially launched in July 2017. With the franchise model, Suning Retail Cloud leverages Suning.com's retail capabilities and deep industry know-how especially in logistics, warehouse, supply chain and technology innovations to franchisees and help micro and small merchants in county-level markets to easily start a business.

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