Read more about Oppo, Vivo grow strong in China smartphone market: Canalys report on Business Standard. The smartphone market in Mainland China finished 2020 with 84 million units shipped in Q4 2020, declining 4 per cent year-on-year
Three units of HNA, once China s most acquisitive conglomerate, said nearly $10 billion had been embezzled by shareholders, in disclosures to stock exchanges that come amid a government-led probe into the deeply indebted group. A total of 61.5 billion yuan ($9.57 billion) had been embezzled by shareholders and other related parties, Shanghai-listed Hainan Airlines Holding Co, HNA Infrastructure Investment Group Co and Shenzhen-listed CCOOP Group Co said late on Friday. The three companies and their subsidiaries had also provided non-compliant guarantees for 46.5 billion yuan in financing, according to the statements filed after creditors of their parent applied to a court for the conglomerate to be placed in bankruptcy and restructured.
Jack Ma, the billionaire co-founder and former chairman of Chinese e-commerce giant Alibaba, has re-emerged from wherever he’s been since late October 2020, when he ceased public appearances amid a government crackdown on tech firms.
Chinese regulators on Thursday announced an anti-monopoly investigation of e-commerce giant Alibaba Group, stepping up official efforts to tighten control over China s fast-growing tech industries. The market regulator said it was looking into Alibaba s policy of choose one of two, which requires its business partners to avoid dealing with competitors. The one-sentence statement gave no details of possible penalties or a timeline to announce a result. Chinese leaders said earlier an economic priority in the coming year will be to step up anti-monopoly enforcement. Regulators earlier forced the suspension of the stock market debut of Ant Group, an online finance platform spun off from Alibaba.
Here are the key events behind China s investigation into Alibaba Group business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.