The hi-tech manufacturing hub of Suzhou has unveiled a plan to double the city’s cross-border e-commerce annually for the next three years, as it looks to tap into the growing influence of Chinese platforms such as Shein and PPD Holdings’ Temu. The municipal government of the city in eastern Jiangsu province has issued a policy … Read more
Indonesian logistics company J&T Global Express reported its first annual profit in China despite an escalating industry price war in its first earnings report since going public in Hong Kong last October. The company recorded a gross profit of US$58.8 million and adjusted earnings before interest, taxes and amortisation of US$30.7 million in China last … Read more
Douyin, the Chinese version of TikTok that is betting big on e-commerce, has made its “express refund” policy mandatory, forcing merchants to immediately return money to consumers upon request to compete with similar offerings on Taobao and Pinduoduo. The platform operated by Beijing-based ByteDance, which added a shopping channel in 2019, allows users to get … Read more
