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China Tech Digest: Online Food Delivery Users Reach 500M, China Box Office Hit RMB20B In2020


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The NYSE will delist three Chinese operators in accordance with the Trump administration’s executive order
The New York Stock Exchange announced on December 31 that, in order to comply with the Trump administration’s executive order prohibiting Americans from investing in “Chinese companies with military backgrounds”, it will impose an investigation on three Chinese companies: China Unicom (Hong Kong), China Mobile and China Telecom.
According to the exchange’s statement, China Mobile, China Telecom, and China Unicom (Hong Kong) will delist from January 7 to January 11.
In 2020, China’s overall order volume of food delivery nationwide reached 500 million users
According to the latest data, as of the end of 2020, the total order volume of food delivery nationwide will reach RMB17.12 billion, an increase of 7.5% year-on-year, and the transaction scale of the national food delivery market will reach RMB835.2 billion yuan, an increase of 14.8%. ....

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China launches antitrust investigation into Alibaba, its most successful Internet company


China launches antitrust investigation into Alibaba, its most successful Internet company
Gerry Shih
© Aly Song/Reuters
The Alibaba Group logo is seen during the company’s Singles’ Day global shopping festival at its headquarters in Hangzhou, Zhejiang province, China, on Nov. 11.
TAIPEI, Taiwan It was the ultimate success story of China Inc. 2.0: A private-sector technology start-up became an Internet juggernaut that conquered the Chinese market and set its sights on the world.
But like in the folk tale, Alibaba first struck gold and then met trouble.
Chinese regulators announced a multipronged antitrust investigation Thursday into its most successful Internet company, making moves that could potentially break up Alibaba’s sprawling e-commerce business or splinter its highly lucrative financial services affiliate. ....

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