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☆ There Is No TikTok in China, but There Is Douyin. Here’s What It Is.
▼ + stars: | 2024-04-25 | by ( Claire Fu | Daisuke Wakabayashi | ) www.nytimes.com time to read: +1 min

In China, there is no TikTok. After President Biden signed a bill on Wednesday forcing Chinese company ByteDance to sell its ownership of TikTok, the United States moved one step closer to an internet without the short video app. It is a staple of the Chinese internet the way TikTok is in the rest of the world. But because it has no presence outside China, Douyin, which means a “shaking sound” in Chinese, is not as well known globally. Will ByteDance succumb to political demands from Washington, or will it refuse to sell TikTok and face the consequences?

Persons: Biden, Douyin, Will ByteDance Organizations: ByteDance Locations: China, United States, U.S, Washington

☆ Massive floods threaten tens of millions as intense rains batter southern China
▼ + stars: | 2024-04-22 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Heavy rains hammered southern China on the weekend, flooding homes, streets and farmland and threatening to upend the lives of tens of millions of people as rescuers rushed to evacuate residents trapped by rising waters. Since April 16, sustained torrential rains have pounded the Pearl River Delta, China’s manufacturing heartland and one of the country’s most populated regions, with four weather stations in Guangdong registering record rainfall for April. Since last week, at least 44 rivers in the Pearl River basin have swelled above the warning line, threatening to burst their banks, according to state broadcaster CCTV. Aerial view of waterlogged fields after torrential rains on April 20, 2024 in Qingyuan, Guangdong Province of China. Authorities raised the flood control emergency response for the Pearl River Delta to level 2 on Sunday – the second highest in a four-tier system.

Organizations: Hong Kong CNN, Xinhua, China Meteorological Administration, Visual China, CCTV, Authorities Locations: Hong Kong, China, Guangdong, Jiangwan, Shaoguan, Pearl, Qingyuan, Guangdong Province of China, Guangning county, Zhaoqing, Qingyuan city, Guangzhou, Shenzhen

☆ China’s youth are staging a rebellion with ‘gross’ work outfits in new video trend
▼ + stars: | 2024-04-21 | by ( Christy Choi | ) edition.cnn.com time to read: +5 min

CNN —There’s a new kind of “get ready with me” video trending in mainland China — one of “gross” work outfits. The hashtag “grossoutfitforwork” has attracted more than 140 million views and tens of thousands of discussions on Chinese social media platform Weibo alone. In late February, a post by Douyin (China’s version of TikTok) user Kendou S, claiming she was chastised by her boss about her “gross” outfits which said she wore to battle the cold weather, went viral. DouyinWhile the examples that have gone viral on social media are more extreme, Qiu said he believes casual dressing for work has always been popular in China and will continue. And as temperatures rise, some have started to share their gross outfits for the spring.

Persons: CNN —, they’re, ”, Kendou, “, ” “ Gross, Gen Z, Bohan Qiu, ’ ”, Qiu, it’s Organizations: CNN, Workers Locations: China, Weibo, balaclava, Shanghai, Seoul, Hong Kong

☆ China sees foreign threats ‘everywhere’ as powerful spy agency takes center stage
▼ + stars: | 2024-04-21 | by ( Nectar Gan | ) edition.cnn.com time to read: +16 min

But among the crowds you and I together are protecting national security,” the narrator concludes. Chinese soldiers look at a poster promoting national security in the southwestern city of Beihai on National Security Education Day on April 15, 2024. CFOTO/Future Publishing/Getty ImagesAccording to the MSS, foreign spies are omnipresent and infiltrating everything – from mapping apps to weather stations. But China’s spy agency has gradually stepped out of the shadows as Xi makes national security a key priority. “Shenyin Special Investigation Squad” is a comic series based on real-life counterespionage operations, according to China's spy agency.

Persons: –, “, ”, Xi, Xuezhi Guo, Sheena Chestnut Greitens, Xi Jinping, Greg Baker, Mao Zedong, Greitens, Chen Yixin, Chen, “ Chen, ” Greitens, Xi –, denigrate, Bain, Alex Plavevski, Guo, influencers, China’s, can’t, James Zimmerman, Perkins Coie, Zimmerman, ” Zimmerman Organizations: Hong Kong CNN, National Security Education, “, Ministry of State Security, National Security, Publishing, CIA, National, Education, Capitol, Guilford College, Asia, University of Texas, Getty, Communist Party, FBI, National Security Propaganda, CCTV, Ministry of State, China’s National Security Commission, Group, China Development Forum, Perkins Coie LLP, ”, MSS Locations: China, Hong Kong, Beihai, British, American, Beijing, Austin, AFP, Zhejiang province, Shanghai, New York, overreaching

☆ Jack Ma is praising Alibaba. Wall Street is more cautious
▼ + stars: | 2024-04-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Alibaba shares got a boost last week from news founder Jack Ma is pleased with the company's turnaround so far. They cut their price target to $100 a share, down from $105 previously, while maintaining an overweight rating. Eddie Wu became CEO of Alibaba in September, and is also acting head of the cloud business. They cut their price target by $1 to $105 a share and maintained their buy rating. They have a price target of $85, and, in contrast to the many buy ratings, rate the stock equal weight.

Persons: Jack Ma, Joe Tsai, Ma, Alex Yao, Tsai, Nicolai Tangen, We've, Eddie Wu, Trudy Dai, Daniel Zhang, Kenneth Fong, Douyin, Nomura, Doubao, Ernie, Qianwen, monetization, Morgan Stanley, Gary Yu, — CNBC's Michael Bloom, Arjun Kharpal Organizations: CNBC, Wall Street, JPMorgan, Norges Bank Investment, Alibaba, Commerce, UBS, PDD Holdings, Norges Bank Investment Management Locations: China, U.S, Taobao, BABA

☆ Gen Z workers in China are picking 'gross outfits' over corporate glam because they don't get paid enough to look fly
▼ + stars: | 2024-04-07 | by ( Alexandra Bacon | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

But a new trend flooding Chinese social media takes casual to the next level, with young workers sharing videos of themselves wearing their "grossest" clothes to the office. The hashtag "gross outfits at work" has been taking over Chinese social media platforms such as Douyin, the Chinese version of TikTok, and Xiaohongshu, an Instagram-like app. AdvertisementOne woman posted a video of her colleagues being criticized by their boss for their gross outfits on Douyin, the Chinese version of TikTok. Douyin"They are getting criticized by the boss for their gross outfits," one Douyin user said amid fits of laughter in a video she'd posted on March 7. In a separate Douyin video, which was posted in February, a woman could be seen touting her "gross outfit."

Persons: —, Wei, Ant, Candise Lin, netizens, Lin, Jack Porteous, TONG, Porteous, hadn't Organizations: Service, Business, TONG Global Locations: China

☆ Paw patrol: China’s most popular new police officer is a corgi
▼ + stars: | 2024-03-29 | by ( Jessie Yeung | ) edition.cnn.com time to read: +3 min

CNN —China’s most popular new police officer is making waves on social media with his stubby legs, wide grin and wagging tail. Fuzai is a reserve police dog and started training when he was two months old, according to state media. Weifang public security bureau/DouyinSome of these peers are featured on Fuzai’s official account on Douyin – the Chinese version of TikTok - with the account run by Weifang police. Weifang public security bureau/DouyinAt the end of the line is Fuzai – strapped to the back of an officer, paws dangling, like a fuzzy backpack. The country’s police forces range from public security departments and neighborhood patrols to more heavy-handed state security and paramilitary forces as well as a highly secretive civilian spy agency.

Persons: CNN —, ”, pooch, Fuzai, –, Wang Yanan, emojis Organizations: CNN, corgi, Weibo, bloodhound, China Daily, Chinese Communist Party Locations: Shandong, China, …, Liaoning

☆ A UPenn student started a YouTube channel. In weeks, her face was stolen on China's social media.
▼ + stars: | 2024-03-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +12 min

That message included a link to a video on Xiaohongshu, a social media platform rapidly gaining steam in China. The student started her self-empowerment channel in November and has so far published eight videos and seven YouTube Shorts. The Xiaohongshu deepfakes of other YouTubers do the same. In a matter of about 10 minutes, BI found deepfake videos of at least five caucasian women on Xiaohongshu. But at least one Chinese deepfake version of Blakely has a different agenda to share on Xiaohongshu.

Persons: —, Olga Loiek, Loiek, Vladimir Putin, Loeik, Weibo, someone's, Lyu Siwei, it's, Haibing Lu, they've, Xiaohongshu, Natasha, she's, Annie, Sophia Elena, Katyusha, China, Lana Blakely, Blakely, Elizabeth Filips, Serbia, Filips, Lyu, Vincent Conitzer, Conitzer, Lu, Lyu who's, he's, Roy, Ari Lightman, she'll Organizations: Service, Business, Kremlin, YouTube, WhatsApp, Facebook, Media, University at Buffalo, Santa Clara University, University of Pennsylvania, BI, Russia, Institute for, Oxford University, Social, Carnegie Mellon University Locations: Munich, China, Moscow, Ukraine, Santa, China's Heilongjiang, Germany, Xiaohongshu, Russian, Russia, Stockholm, Xiaohongshu London, Pakistan

☆ China is trying to connect Southeast Asia by high-speed rail. Here’s how that’s going
▼ + stars: | 2024-03-25 | by ( Heather Chen | ) edition.cnn.com time to read: +10 min

CNN —Imagine jumping on a train in southwestern China, traveling some 2,000 miles and arriving in Singapore – less than 30 hours later. Southeast Asia is the “obvious” choice because of its “proximity to China,” Bowerman adds. “Beijing, I think, ultimately wants to see Southeast Asian countries within its sphere of geopolitical influence. A staff member waits for passengers to board the Jakarta-Bandung high-speed train during a week-long public trial phase at the Halim station in Jakarta on September 17, 2023. “In the example of a high-speed railway line between Malaysia and Singapore, Singapore would likely have just one stop – Malaysia would have more,” Wong told CNN.

Persons: China’s, Gary Bowerman, ” Bowerman, ”, Pon Souvannaseng, Peerapon Boonyakiat, Bowerman, Pan Wenbo, Pan, Mei Wei, Wei, “ I’m, Xi Jinping’s, Souvannaseng, Hong Kong –, Hong Kong’s, Yasuyoshi Chiba, Wong Muh Rong, ” Wong Organizations: CNN, Initiative, China Railway, Reuters, East Japan Railway Co, Malaysian, Bentley University, of, Communist Party, Laos Railway, Laos Railway cumulatively, Orient Express, Getty Locations: China, Singapore, Asia, Laos, Kunming, Vientiane –, Indonesia, Jakarta, Bandung, West Java, Thailand, Bangkok, Thai, Malaysia, Kuala Lumpur, Southeast Asia, “ China, Peerapon, Cities, Penang, Malacca, Phuket Old Town, Beijing, Vietnam, Philippines, Cambodia, Wat, Siem Reap, ”, Kowloon, Hong Kong, Shanghai, Halim, AFP, “

☆ As Reddit goes public, advertisers say it needs to do more to prove it can boost their sales
▼ + stars: | 2024-03-21 | by ( Lara O'Reilly | Lauren Johnson | ) www.businessinsider.com time to read: +7 min

"Advertising on Reddit is rapidly evolving, and we are still in the early phases of growing this business," Reddit wrote in its IPO filing. The company said advertisers were attracted to Reddit due to its "high-intent" audience, much of which is hunting for product recommendations. And elsewhere, Reddit doesn't have the kind of e-commerce structure that Meta, TikTok, and Google have built, experts said. It has poached ad talent from companies like Pinterest and Meta to grow its ad business. Also last year, Jim Squires, a former longtime Meta ad exec, joined Reddit in a new role as EVP of business marketing and growth.

Persons: it's, Reddit, Reddit hasn't, Brad Kay, Reddit didn't, haven't, TikTok, Jerry Daykin, Daykin, Carly Carson, Reddit doesn't, Anthony Macro, Harold Klaje, Klaje, Jim Squires, Jeff MacDonald, That's, MacDonald, PMG's Carson Organizations: Google, Business, Brand, Meta, Beam Suntory, PPC, Reddit, YouTube Locations: Meta

☆ TikTok: Is it really Chinese?
▼ + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Is TikTok Chinese? In March 2023, CEO Chew was repeatedly pressed by US lawmakers on whether TikTok was Chinese. According to TikTok’s own website, its subsidiaries around the world are all structured under Bytedance Ltd.Is ByteDance Chinese? At last year’s congressional hearing, Chew didn’t directly answer any questions about whether ByteDance is a Chinese company either. That means the Chinese government now owns 1% of Beijing Douyin Information Service, which is the domestic Chinese unit of Bytedance.

Persons: TikTok, Shou Chew, Trump, Chew, Jose Luis Magana, Musical.ly, TikTok’s, ByteDance, Zhang Yiming, Liang Rubo, Zhang, Liang, Jinri, Chew didn’t, Shannon Stapleton, Zhang Fuping, Xi Jinping, Wu Shugang, Shu Yuting Organizations: Hong Kong CNN, TikTok LLC, TikTok Ltd, ByteDance Ltd, Bytedance Ltd, Tianjin’s Nankai University, ByteDance, Carlyle Group, General Atlantic, Susquehanna International Group, Reuters, Communist, Cyberspace Administration, Beijing Douyin Information Service, Chinese Communist Party, National Intelligence Law, Commerce Ministry Locations: China, Hong Kong, United States, Beijing, California, Los Angles, Singapore, Delaware, Culver City , California, Cayman Islands, Shanghai, Chinese, TikTok

☆ Nongfu Spring: Bottled water empire of China’s richest man Zhong Shanshan is facing a boycott by nationalists
▼ + stars: | 2024-03-13 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Zhong and his drinks firm Nongfu Spring, the country’s biggest maker of bottled water, are the latest targets of an army of internet zealots. WeiboThe nationalists have also highlighted the fact that prominent US investment funds, including Vanguard and BlackRock, are major shareholders of Nongfu Spring. “Taking advantage of Mr Zong’s death, a lot of slander against me and Nongfu Spring appeared on the internet. “Whether Wahaha or Nongfu Spring, we always insist on the same thing — producing good products for the people,” he said. Nongfu Spring is just the latest major target of China’s nationalists.

Persons: Hong Kong CNN — Zhong Shanshan, Zhong, Zong Qinghou, Zong, Zhong’s, —, “ Zhong Shuzi, ”, “, He’s, Mr Zong’s, ” Zhong, influencers, netizens, “ Zong, Wei Jiang, Mo Yan, Mao Zedong, Stringer, Li Ning Organizations: Hong Kong CNN, Wahaha, Danone, Weibo, ”, Vanguard, BlackRock, Nongfu, American, Wahaha’s, CNN, Zhejiang Daily, Communist Party, Auto, Zhejiang University of Finance, Economics, People’s Liberation Army, AFP, Getty, Nike, Adidas, United, Toyota, Honda Locations: China, Hong Kong, Beijing, American, Weibo, Nongfu, Zhejiang, Hami, China's, Xinjiang, AFP, United States, Japan

Trader works at the post where Alibaba is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. REUTERS/Brendan McDermid Brendan Mcdermid | ReutersChinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC's Emily Tan in an exclusive interview Friday. Questions about Alibaba's future have mounted after a series of internal changes, a scrapped cloud computing IPO and competition for its core e-commerce business. "Where we didn't feel as confident as before, we felt the competitive pressure, but now we're back." watch nowStock Chart Icon Stock chart icon Alibaba

Persons: Brendan McDermid Brendan Mcdermid, Joe Tsai, Emily Tan, Tsai Organizations: New York Stock Exchange, REUTERS, PDD Holdings, ByteDance, Alibaba Locations: New York City, U.S, China, Alibaba

"I'm thinking about marketing myself as a TikTok Shop creator," Jayy told BI in July. Outside its in-house team, TikTok also deputizes official third-party TikTok Shop agency partners to work with creators and merchants on e-commerce strategies. And the company offers advice to all affiliate creators on its website via its TikTok Shop Academy. Someone who is not popular or famous going on TikTok Shop and offering products, or someone who is very popular and famous now getting products?" "I think the shortest path to more volume through TikTok Shop is really that second group."

Persons: D'Amelio, TikTok, Remy Beaumont, it's, Joy Mangano, Beaumont, playbook, Rick Watson, Sharon Jayy, Jayy, Watson Organizations: Business, Shop, Z Media, intel, Training, RMW Commerce Consulting, TikTok Shop, Shop Academy Locations: London, China, Douyin, TikTok's Culver

☆ TikTok is pissing everyone off right now. Here's how its brute-force tactics could pay off — or backfire.
▼ + stars: | 2024-02-15 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The move was an about-face for the president, whose administration had spent years calling it a national security risk. AdvertisementIt’s been deep in a public spat over music licensing with one of its most important partners, Universal Music Group. Some users have said it’s ruining the app by promoting shopping over the funny skits and dancing videos that first made TikTok popular. For leaders at ByteDance, who often have the final say over product decisions at TikTok, copying ideas from Douyin to TikTok is part of their playbook.

Persons: —, TikTok, Joe Biden, Biden, Brandon, TikTok isn’t, it's, Taylor Swift, Olivia Rodrigo, UMG, ” TikTok, it’s, TikTok's, ByteDance, It’s, Meghana, Pissing, ” Michael Huppe, Katie Notopoulos, ” Dhar Organizations: Service, White, Business, Universal Music Group, Music, Black, Facebook, Google, Big Tech, ”, YouTube, Shopping Network Locations: TikTok, Washington, Meghana Dhar, China, ByteDance

☆ China's Bytedance says Zhang Nan resigns as Douyin Group's CEO
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +1 min

On Wednesday, Bytedance, the owner of TikTok, announced the resignation of Zhang Nan from the position of CEO of Douyin Group, the sister app of the popular short video platform in China. TikTok owner Bytedance said on Wednesday that Zhang Nan has resigned as the CEO of Douyin Group, the popular short video platform's sister app in China. Zhang posted on her personal social media account on WeChat that she was resigning from the position, in a move confirmed by ByteDance. Zhang, who has worked at ByteDance for 10 years, has been a core leader for the company and helped grow Douyin into the leading short video platform and one of biggest apps in China. She reported to ByteDance's CEO Liang Rubo in her position as head of Douyin Group.

Persons: Zhang Nan, Bytedance, Zhang, ByteDance, Liang Rubo Organizations: Douyin Group, ByteDance Locations: Bytedance, China, ByteDance

Working with Chinese rappers like the popular Higher Brothers, he has always interspersed English song lyrics with a catchy Chinese chorus. On his latest album, “Love for you,” Phoenix apologizes to Higher Brothers for saying they were not speaking in support of Black Lives Matter. Phoenix's criticism led to a rift with Higher Brothers that hasn't healed. He also served as a moderator for a panel about Asian American support for Black Lives Matter. Again, he spoke of Black and Asian solidarity, and of seeing everyone as human first.

Persons: Bohan, Phoenix, …, ”, “, couldn’t, George Floyd, ” Phoenix, hasn't Organizations: Associated Press, Phoenix, Brothers, U.S Locations: BANGKOK, China, Phoenix, U.S, New York, Harlem, Chengdu . Phoenix, West

☆ Chinese migrants are flocking to the southern border, and some have Chinese TikTok guides on how to enter the US: CBS
▼ + stars: | 2024-02-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Chinese migrants hoping to get into the US are turning to an unlikely guide — the Chinese version of Tiktok. There has been a surge in the number of Chinese migrants crossing the US border in recent years. AdvertisementSome Chinese migrants attempting to cross the US southern border are getting a little help from Douyin, the Chinese version of TikTok, according to a report from CBS' "60 Minutes." Chinese migrants who spoke to 60 Minutes said they learned about the gap via the video application Douyin, the Chinese version of TikTok. Chinese migrants hoping to start a new life in the US have to trek through multiple countries before they arrive stateside.

Persons: —, It's, Manuel Monterrosa Organizations: Migrants, Service, CBS, CNN, US Customs, Reuters, New York Times, Business Insider Locations: Douyin, San Diego, crisscross, Turkey, Ecuador, Colombia, Panama, Mexico, Southwest, Texas, China, Venezuela, India

☆ MrBeast, the king of YouTube, is setting his sights on the Chinese market
▼ + stars: | 2024-01-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

MrBeast is setting his eyes on the Chinese market. The YouTube megastar uploaded his first video on Chinese video-sharing site Bilibili. On Tuesday, the YouTube sensation, whose real name is Jimmy Donaldson, uploaded his first video on Chinese video-sharing site Bilibili. AdvertisementChinese fans launched Donaldson's Bilibili account last year, Baumel said. The 16-minute video has been viewed over 165 million times and reposted over 56,000 times to date.

Persons: He's, TikTok, —, Jimmy Donaldson, MrBeast, Donaldson, Eyal Baumel, Baumel, Forbes, Bilibili Organizations: YouTube, Service, Bloomberg, Weibo, Business Insider Locations: China

Before the sequel to “Aquaman” was released in China last month, Warner Bros. did everything it could to sustain the original movie’s success. The Hollywood studio blanketed Douyin, the Chinese version of TikTok, with movie clips, behind-the-scenes footage and a video of an Aquaman ice sculpture at a winter festival in Harbin, a city in China’s northeast. It sent the franchise’s star, Jason Momoa, and director, James Wan, on a publicity tour in China — the type of barnstorming that had disappeared since the Covid pandemic. Mr. Momoa said China’s fondness for the first “Aquaman” was why the sequel was debuting in China two days before the U.S. release. “I’m very proud that China loved it, so that’s why we brought it to you, and you guys are going to see it before the whole world,” he said in an interview with CCTV 6, China’s state-run film channel.

Persons: ”, Douyin, Jason Momoa, James Wan, Momoa, “ Organizations: Warner Bros Locations: China, Harbin, China’s, U.S

☆ Travel news: Inside the world’s best, and sexiest, hotels for 2024
▼ + stars: | 2024-01-13 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. To calm our nerves, here are some happier tales of globe-spanning love stories, China’s search for a Monkey King and the sexiest new hotels opening in 2024. Here are 24 outrageously sexy new hotels we’re excited about this year, including spots in Italy, Japan and Transylvania. Passalacqua, a luxury hotel on Lake Como, was voted the best hotel in the world at the inaugural World’s 50 Best Hotels awards at the end of last year. Hail the Monkey KingAn employee dressed up as Monkey King at Wuzhishan Scenic Area in the northern Chinese province of Hebei.

Persons: CNN — It’s, —, Angela Renda, Denise Sung, Sebastian, German Sebastian Fuchs, Courtney, Justin Orgias, Covid, It’s, King, There’s Organizations: CNN, Boeing, Resorts, Warner Bros, Pan American World Airways, Shangyou, American Airlines, US Locations: Slovenian, Italy, Japan, Transylvania, Lake Como, London, Taiwan, German, Hong Kong, Chinese, Hebei, Jinjinghouge, Texas

☆ Why an $800 million social-commerce startup is betting on live shopping in the US and what it learned by first building a business in China
▼ + stars: | 2024-01-12 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +6 min

Could live shopping finally have its moment in the US market? "The initiative really was born out of our experience in China," Reis said. In China, Douyin "took market share away from the large other platforms," Reis said. On TikTok, shopping is entertainmentThere's a reason live shopping is gaining ground on TikTok: it's captivating. "Live shopping is all about entertainment."

Persons: Julian Reis, Reis, SuperOrdinary, it's, Olaplex, Byrd, TikTok, hasn't, ByteDance, we'd, We've, " Reis, everyone's Organizations: Business, Shop, Milk, Bloomberg, Brands, QVC Locations: China, TikTok, Shanghai, Los Angeles, Douyin

Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Cloud competition from HuaweiAlibaba has been an industry leader in the cloud business. Alibaba in November blamed U.S. restrictions on chip sales to China for the decision to pull the cloud IPO. Alibaba said its cloud business revenue grew by just 2% year on year in the quarter ended Sept. 30. Those resellers were other companies that had acted as distributors or agents for Alibaba cloud and received commissions.

Persons: Brendan McDermid, It's, Alibaba, hasn't, they're, Duncan Clark, Clark, ”, Jack Ma, Brian Wong, Eddie Wu, Trudy Dai, Daniel Zhang, Yi Zhang, —, Alibaba's, Canalys, BDA's Clark Organizations: Alibaba Group Holding, New York Stock, Reuters, BDA, Alibaba Group, Alibaba, Duncan Clark BDA, Huawei Alibaba, Huawei, Tencent, “ Global Locations: Reuters BEIJING, U.S, China, Beijing, Alibaba

☆ China food delivery firm Meituan beats revenue expectations amid economic headwinds
▼ + stars: | 2023-11-28 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

The platform, whose app provides services such as bike-sharing, ticket-booking and maps, reported June-September revenue of 76.47 billion yuan ($10.69 billion), versus 62.62 billion yuan in the same period a year earlier. Meituan posted a profit of 3.59 billion yuan versus profit of 1.22 billion yuan a year earlier. Meituan CEO Wang Xing previously flagged a tougher third quarter for the food delivery business due to macroeconomic headwinds. A Meituan delivery worker rides a scooter carrying vegetables on a snowy day in Beijing, China January 19, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsQuarterly revenue from core local commerce, which includes food delivery as well as non-food delivery service Meituan Instashopping, rose 24.5% to 57.69 billion yuan.

Persons: Meituan, LSEG, Wang Xing, Tingshu Wang, Ele.me, ChinaIRN, John Choi, Wang Huiwen, ChatGPT, Casey Hall, Christopher Cushing, Edmund Klamann Organizations: HK, REUTERS, Alibaba Group, Meituan, Microsoft, Thomson Locations: SHANGHAI, Beijing, China, Hong Kong, Southeast Asia

☆ ByteDance to wind down Nuverse in full retreat from gaming -sources
▼ + stars: | 2023-11-27 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The ByteDance logo is seen at the company's office building in Shanghai, China, July 4, 2023. The Chinese technology firm has no plan to return to the $185 billion global video games market, said the people, who declined to be identified as the information is not public. Casual gaming brand Ohayoo, whose games feature on Douyin - TikTok's sister app in China - will not be affected, neither will casual games that run on TikTok, one of the people said. ByteDance's 2019 creation of Nuverse was widely seen as a major push into global gaming and a strategic element of its competition with domestic rival Tencent Holdings (0700.HK), the world's biggest gaming company. Nuverse came into focus again in 2021 when ByteDance formalised its status as one of its six business units under a broader structural overhaul.

Persons: Aly, Will, ByteDance, Pico, Nuverse, Josh Ye, Brenda Goh, Christopher Cushing Organizations: REUTERS, Reuters, Moonton Technology, Tencent Holdings, HK, C4games, Thomson Locations: Shanghai, China, HONG KONG

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