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SEC starts the clock on audit-linked Chinese stock delistings

SEC starts the clock on audit-linked Chinese stock delistings

(ATF) The Securities and Exchange Commission (SEC) on Wednesday March 24 began a process that would force foreign companies off American stock exchanges if they refuse to comply with US auditing standards over successive years, and require them to disclose any governmental affiliations.The Holding Foreign Companies Accountable Act, signed into …

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H&M; faces China boycott over Xinjiang cotton worries 

H&M faces China boycott over Xinjiang cotton worries

H&M has suddenly been blocked from all major Chinese e-commerce platforms including Tmall, Taobao, JD.com and Pinduoduo over a year-old statement it made expressing concerns about forced labor in Xinjiang. Adidas, Uniqlo, Nike, Gap and New Balance, which had also previously distanced themselves from Xinjiang cotton, are now in the …

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Calls for China’s new e-commerce rules to hit big sales platforms harder 

Calls for China’s new e-commerce rules to hit big sales platforms harder 

(ATF) China has told its nation of 1 billion shoppers that it is bringing in new legislation aimed at curbing the worst excesses of misbehaving e-commerce firms.The new measures will come into force in May after criticisms that the current levels of fines were no deterrent for the likes of …

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JD.com to spin off logistics arm in third IPO in nine months 

JD.com to spin off logistics arm in third IPO in nine months 

(ATF) Chinese e-commerce giant JD.com has applied to list its delivery arm JD Logistics in Hong Kong, which will be the third initial public offering (IPO) of Chinese billionaire Richard Liu’s business empire within nine months.The company did not specify the amount it hopes to raise in its prospectus filed …

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Yield spike sours risk appetite 

Yield spike sours risk appetite 

(ATF) Hong Kong: Asian markets were broadly lower as surging commodity and oil prices raised inflationary concerns which lifted US Treasury yields to one-year highs.As commodity prices boomed, fuelled by a resurgent China, trading giant Glencore joined mining behemoth BHP in declaring a massive dividend payout.Japan’s Nikkei 225 index slipped …

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What's behind the Jack Ma and Alibaba regulatory woes?

What is behind the Jack Ma and Alibaba regulatory woes?

Following the recent hullabaloo over Jack Ma and his prodigy, the massive Ant Group, many analysts have made their opinions known. Some, using questionable assumptions, believe that the impact of the state scrutiny will be insignificant and recommend 'buy in the dip'. Others have been more cautious, noting the lack …

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Regulators to press Chinese tech giants to share credit data 

Regulators to press Chinese tech giants to share credit data 

China plans to push tech giants including the Ant Group, Tencent and JD.com to share their consumer loan data in an effort to prevent excess borrowing and fraud.The plan, if implemented, would effectively end the government's laissez-faire approach to the industry, sources claim. Up until now, large internet platforms have …

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China tech giants told to give jobs back to local grocers

China tech giants told to give jobs back to local grocers

(ATF) China’s market regulators have issued “nine must-not” guidelines to e-commerce giants such as Alibaba, Tencent, and JD.com to crack down on a new social sales model that is taking jobs away from traditional small businesses in a pandemic-stricken economy. These tech giants are in the crosshairs of Beijing’s anti-monopoly …

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JD.com to accept digital yuan in Chinese e-commerce first 

JD.com to accept digital yuan in Chinese e-commerce first 

(ATF) Chinese e-commerce company JD.com Inc said it would become the country's first online shopping platform to accept the People's Bank of China's digital currency.Electronics retailer Five Star Electric, JD Home, and JD Convenience Store - all units of JD.com - would support payments through the digital yuan, the online …

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China's Alibaba, JD.com and Tencent could face break-up

China's Alibaba, JD.com and Tencent could face break-up 

(ATF) More insight has been given into the thinking of Chinese regulators behind the suspension of the huge IPO planned by Ant Finance early in November. Indeed, a commentary printed in the Communist Party’s top mouthpiece, the Peoples’ Daily, today (Nov 23) proposed breaking up big multi-faceted platforms like Alibaba, …

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