Chris Liu
The Latest
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Zara Founder's Wealth Soars in 2023, Doubling to Nearly $100 Billion
According to the Forbes list of billionaires with the most significant wealth growth in 2023, Ortega ranked sixth, with his net worth jumping from $64.2 billion at the beginning of the year to $97.4 billion by December 15, approximately 767.1 billion yuan. 
According to the Forbes list of billionaires with the most significant wealth growth in 2023, Ortega ranked sixth, with his net worth jumping from $64.2 billion at the beginning of the year to $97.4 billion by December 15, approximately 767.1 billion yuan. -
Taobao Adopts 'Refund Only' Policy, Echoing Pinduoduo's Approach Amid E-commerce Shifts
On December 26, Taobao announced updates to its "Taobao Platform Dispute Resolution Rules," introducing a policy that allows for swift refunds or returns based on multi-dimensional data analysis. This move is interpreted as following in the footsteps of Pinduoduo, a competitor known for its 'refund only' policy. 
On December 26, Taobao announced updates to its "Taobao Platform Dispute Resolution Rules," introducing a policy that allows for swift refunds or returns based on multi-dimensional data analysis. This move is interpreted as following in the footsteps of Pinduoduo, a competitor known for its 'refund only' policy. -
Vivo India Executives Detained, Company Vows Legal Action Amidst Continued Harassment
On December 23, multiple media outlets reported that the Enforcement Directorate (ED) of India had recently detained several executives of Vivo India, including the interim CEO and CFO, as part of an anti-money laundering investigation. 
On December 23, multiple media outlets reported that the Enforcement Directorate (ED) of India had recently detained several executives of Vivo India, including the interim CEO and CFO, as part of an anti-money laundering investigation. -
Elon Musk's Hyperloop One Faces Closure Amid Bursting 'Super High-Speed Rail' Dream
According to sources cited by Bloomberg, Hyperloop One, a company once at the forefront of high-speed transportation technology, is facing imminent closure. The company has reportedly laid off most of its staff and is attempting to sell its remaining assets, including test tracks and machinery. 
According to sources cited by Bloomberg, Hyperloop One, a company once at the forefront of high-speed transportation technology, is facing imminent closure. The company has reportedly laid off most of its staff and is attempting to sell its remaining assets, including test tracks and machinery. -
Xiaohongshu Poised for $500 Million Profit Surge Amid E-commerce Boom
Xiaohongshu, a popular social media and e-commerce platform in China, is reportedly on track to significantly exceed its profit expectations for the year, thanks to a rapid expansion in its e-commerce operations. Insiders suggest the company is set to achieve a net profit of $500 million, far surpassing its initial forecast of less than $50 million at the start of the year. 
Xiaohongshu, a popular social media and e-commerce platform in China, is reportedly on track to significantly exceed its profit expectations for the year, thanks to a rapid expansion in its e-commerce operations. Insiders suggest the company is set to achieve a net profit of $500 million, far surpassing its initial forecast of less than $50 million at the start of the year. -
China's New Gaming Regulations Prompt Massive Market Value Loss for Tencent and NetEase
In a significant blow to the gaming sector, China's National Press and Publication Administration has called for public feedback on the draft of the "Network Game Management Measures" on December 22. The proposed regulations cover various aspects of the gaming industry, including game modes, charging models, licensing, content, and anti-addiction measures. 
In a significant blow to the gaming sector, China's National Press and Publication Administration has called for public feedback on the draft of the "Network Game Management Measures" on December 22. The proposed regulations cover various aspects of the gaming industry, including game modes, charging models, licensing, content, and anti-addiction measures. -
Huawei to Open 800 New HarmonyOS Smart Car Stores Amid Shrinking Market Value
Huawei is reportedly planning a significant expansion of its independent HarmonyOS Smart Car stores, aiming to open around 800 new outlets in 2024 and striving to hit 1,000 by 2025. 
Huawei is reportedly planning a significant expansion of its independent HarmonyOS Smart Car stores, aiming to open around 800 new outlets in 2024 and striving to hit 1,000 by 2025. -
Tesla Reportedly Opts Out of Performance-Based Stock Incentives for Employees Amid Cost-Cutting Measures
Tesla Inc. is reportedly not offering performance-based stock incentives to some of its employees this year, a move that appears to be part of the company's efforts to reduce expenses amid challenging global economic conditions. 
Tesla Inc. is reportedly not offering performance-based stock incentives to some of its employees this year, a move that appears to be part of the company's efforts to reduce expenses amid challenging global economic conditions. -
BYD and Two Other Chinese Brands Plan Factories in Mexico, China's Second-Largest Car Export Destination
Mexico, a key export destination for Chinese automobiles, is witnessing an expansion of Chinese car manufacturers who are planning to set up factories in the region. This move follows the successful mass production of some Chinese industrial chain companies in Mexico. 
Mexico, a key export destination for Chinese automobiles, is witnessing an expansion of Chinese car manufacturers who are planning to set up factories in the region. This move follows the successful mass production of some Chinese industrial chain companies in Mexico. -
U.S. Tightens Export Controls on Chinese Firms Amid Growing Security Concerns
The United States government has intensified its scrutiny of Chinese companies amid heightened geopolitical tensions, leading to the addition of several entities to its restrictive trade lists. 
The United States government has intensified its scrutiny of Chinese companies amid heightened geopolitical tensions, leading to the addition of several entities to its restrictive trade lists.
