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Meituan, Tencent and Alibaba just lost hundreds of billions of dollars in market value

Chinese tech stocks keep getting slammed with a stunningly massive sell-off that has wiped out hundreds of billions of dollars in market value as investors continue to digest Beijing's widening crackdown on private enterprise.
Tags: Cnn, Beijing, Alibaba, Meituan Tencent


10 Things in Politics: Biden's EV arms race against China

Welcome back to 10 Things in Politics. Sign up here to receive this newsletter. Send tips to [email protected] or tweet me at @BrentGriffiths.Here's what we're talking about:Biden's hope for the future of American cars hinges on beating China in a battery arms raceA major day for vaccine mandates in the USRepublican Sen. Tommy Tuberville failed to disclose up to $3.56 million in stock tradesWhat we're watching today: The House select committee on the Capitol riot is set to h...
Tags: Europe, Post, Colorado, California, Washington Post, Cbs News, White House, China, New York City, Global, US, America, San Francisco, Trends, General Motors, Tesla


US stock futures dip as investors eye Big Tech earnings, while Asian equities slide on escalating Chinese clampdowns

Bryan R. Smith / AFP via Getty Images Global stock markets traded lower on Tuesday as investors moved into wait-and-see mode. Alibaba and Meituan shares slide in Hong Kong, on worries about China's regulatory crackdowns. The US rise in COVID-19 cases could prompt the Fed to stick to its pace of asset purchases, a strategist said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks looked poised to open slightly lower on Tuesday as investors focus on ear...
Tags: Amazon, Facebook, Asia, Hong Kong, UK, London, China, US, Trends, Frankfurt, Alibaba, Tokyo, Starbucks, Federal Reserve, FOMC, Meituan


US-listed Chinese stocks crash to their lowest point in more than a year as Beijing ramps up its crackdown on corporations

Andrew Burton/Getty Images The S&P/BNY Mellon China Select ADR Index - which tracks US-listed Chinese stocks - is now at a more than one-year low. The latest leg of the slide has come as China has expanded efforts to overhaul various industries, including food delivery and online education technology. Alibaba and Didi Global are among the companies whose stocks have been under pressure. See more stories on Insider's business page. A gauge of stocks of Chinese companies listed in the U...
Tags: China, US, Trends, Markets, Bloomberg, Beijing, Alibaba, Emerging Markets, Alibaba Group, Nyse, Andrew Burton Getty, Didi, NIO, Carla Mozee, US Stock Market, TAL Education Group


Cathie Wood's Ark Invest is rapidly shedding Chinese stocks as Beijing's regulatory crackdown expands

Cathie Wood is the CEO and chief investment officer of ARK Invest, which runs three of the highest-returning stock ETFs of the last three years. ARK Invest Cathie Wood's Ark Invest is quickly selling Chinese stocks from their suite of ETFs.The rapid selling from Ark Invest comes amid an ongoing regulatory crackdown from Beijing.ARK Invest has sold its entire position in Tencent on Friday, and is selling KE Holdings and JD.com.Sign up here for our daily newsletter, 10 Things Before the O...
Tags: Google, China, US, Trends, Beijing, Alibaba, Tencent, Wood, Wedbush, Didi, Matthew Fox, Amazon Apple Microsoft, Dan Ives, Cathie Wood, ARK Invest, Ant Group


As China shakes up regulations, tech companies suffer

The Exchange spent a little time on Friday ruminating on the impact of then-rumored regulation in China targeting its edtech sector. News that the Chinese government intended to crack down further on the education technology market hit shares of public, China-based edtech companies. It was a mess. Then over the weekend, the rumors became reality, and the impact is still being felt today in the global markets. But there’s more. China is also bringing new regulatory pressure on food-delivery compa...
Tags: Fundings & Exits, Startups, TC, Hong Kong, China, Tech, Xi Jinping, Alibaba, Venture Capital, Tencent, Private Equity, Edtech, Exchange, Meituan, Asia Times, The Exchange


Urban Legend: Why Alibaba’s John Caplan Is Bullish on Cities

By Chris TaylorNEW YORK (Reuters) - When it comes to cities in a global pandemic, reports of their demise have been greatly exaggerated, according...
Tags: Alibaba, Reuters, Chris TaylorNEW, John Caplan


Data-driven iteration helped China’s Genki Forest become a $6B beverage giant in 5 years

Rui Ma Contributor Rui Ma is a partner with 500Startups based in Beijing. More posts by this contributor Data-driven iteration helped China’s Genki Forest become a $6B beverage giant in 5 years Working With A Chinese Factory, Hardware Entrepreneur Edition China’s e-commerce and industrial ecosystem is as different from the Western world as its culture. The country took decades to earn its reputation as the Factory of the World, bu...
Tags: Amazon, Food, Startups, Ecommerce, Column, Asia, Coca Cola, China, Tech, Best, Beijing, Zynga, Alibaba, Logistics, Pepsico, Lei Jun


This is 996 culture, a grueling 72-hour work week popular in China that's been criticized for ruining work-life balance

Alibaba, a Chinese e-commerce giant, is one of many companies criticized for its grueling work culture. Thomas Peter/Reuters The 996 schedule compels employees to work from 9 a.m. to 9 p.m., six days a week. The schedule is widespread in China, especially among tech companies in China's Silicon Valley. Chinese workers have blasted the policy on social media for ruining their personal lives. See more stories on Insider's business page. The brutal work schedule known as the "996" ha...
Tags: Elon Musk, Science, News, China, Trends, Tech, Alibaba, Silicon Valley, Github, Jack Ma, Overtime, Weibo, Tech Companies, Reuters, Ma, South China Morning Post


The Nasdaq could rise 10% as investors flee Chinese tech companies and flock to US stocks amid Beijing's crackdown, Wedbush says

Reuters US tech stocks stand to gain from China's increased regulatory scrutiny on Didi and others.The regulatory crackdown represents "a major black eye" for the Chinese tech sector, Wedbush said in a note on Friday.As investors rotate out of China and into US tech stocks, the Nasdaq could surge 10% into year-end, according to Wedbush.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.China's increased regulatory crackdown on stocks like Didi and Alibaba will...
Tags: Apple, Microsoft, Finance, China, US, Trends, Markets, Beijing, Alibaba, Tencent, Trading, Nasdaq, Wedbush, Ives, Didi, Matthew Fox


Chinese education stocks plunge as Beijing reportedly wants to turn tutoring companies into non-profits

Primary school students attend a class in Beijing. Cui Jun/Beijing Youth Daily/VCG via Getty Images Shares of Chinese tutoring companies crashing Friday after Bloomberg reported that Beijing is targeting the sector. China is considering asking education tech companies in the $100 billion sector to turn into non-profits. Shares of Tal Education Group and Gaotu Education were among those being hammered in the US market. See more stories on Insider's business page. Shares of Chinese ed...
Tags: Hong Kong, China, US, Trends, Markets, Bloomberg, Beijing, Alibaba, Financial Times, Nyse, China Stocks, Didi, VCG, Carla Mozee, TAL Education Group, New Oriental Education Technology Group


Didi falls 10% on reports that China is planning heavy penalties for the ride-share giant following its US IPO

A Didi logo is seen at the headquarters of Didi Chuxing in Beijing on November 20, 2020. REUTERS/Florence Lo/File Photo/File Photo Didi slipped on news that China is considering serious penalties for the firm following its US IPO.S Shares of Didi fell 10% as of Thursday noon ET. Disciplinary measures could include forcing the company to delist or withdraw its US shares, Bloomberg reported. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Shares of Chinese ride-hai...
Tags: China, US, Trends, Bloomberg, Beijing, Alibaba, New York Stock Exchange, Florence, Cyberspace Administration of China, Didi, Didi Chuxing, Isabelle Lee


Didi falls on reports that China is planning heavy penalties for the ride-share giant following its US IPO

A Didi logo is seen at the headquarters of Didi Chuxing in Beijing on November 20, 2020. REUTERS/Florence Lo/File Photo/File Photo Didi slipped on news that China is considering serious penalties for the firm following its US IPO.S Shares of Didi fell 7.3 % after the open on Thursday. Disciplinary measures could include forcing the company to delist or withdraw its US shares, Bloomberg reported. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Shares of Chinese ri...
Tags: China, US, Trends, Bloomberg, Beijing, Alibaba, New York Stock Exchange, Florence, Cyberspace Administration of China, Didi, Didi Chuxing, Isabelle Lee, IPO S Shares of Didi, US Didi


China Fines Tech Giants for Content Exploiting Children

China’s internet watchdog says it has fined technology platforms operated by e-commerce company Alibaba and gaming firm Tencent for spreading sexually suggestive content involving children, as regulators seek to clean up content harmful to minors.
Tags: China, Alibaba, Tencent, China Fines Tech Giants


How we built an AI unicorn in 6 years

Alex Dalyac Contributor Share on Twitter Alex Dalyac is the CEO and co-founder of Tractable, which develops artificial intelligence for accident and disaster recovery. Today, Tractable is worth $1 billion. Our AI is used by millions of people across the world to recover faster from road accidents, and it also helps recycle as many cars as Tesla puts on the road. And yet six years ago, Tractable was just me and Raz (Razvan Ran...
Tags: Amazon, London, Tech, Tesla, Alibaba, Cambridge, Hyde Park, Coursera, Cto, South East Asia, Pantera, Ef, Imperial College, Imperial, Adrien, Geoffrey Hinton


China Roundup: What’s going on with China’s data security clampdown?

Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. A tectonic shift is underway in how Beijing regulates and accesses the troves of citizen data collected by its tech giants. More details of China’s new cybersecurity rules have recently come to light as Didi, the SoftBank-backed ride-sharing dominator in China, became the target of the Chinese government’s latest effort to heigh...
Tags: Apple, Google, TC, Facebook, Asia, Hong Kong, New York, Instagram, China, Softbank, Tech, Tesla, Beijing, Alibaba, Tencent, The Wall Street Journal


Kamereo gets $4.6M to connect farmers and F&B businesses in Vietnam

While working as the chief operating officer of a pizza chain in Vietnam, Taku Tanaka saw how difficult it is for restaurants to connect with farmers. Many small F&B businesses can’t buy in large volumes, so they rely on nearby markets or multiple suppliers who only sell one category. In turn, this means farmers are disconnected from the end customers of their products, making it hard to predict selling prices or plan their crops. Tanaka founded Kamereo, B2B platform with its own warehouse and l...
Tags: Food, TC, Asia, Southeast Asia, Tech, Farmers, Alibaba, Agriculture, Vietnam, Rakuten, B2b, Ho Chi Minh City, Hanoi, Tanaka, Food And Beverage, Pinduoduo


Some investors are betting big on Chinese tech despite Cathie Wood's warning of a 'valuation reset'

Cathie Wood is the CEO and chief investment officer of ARK Invest, which runs three of the highest-returning stock ETFs of the last three years. ARK Invest Cathie Wood is selling shares in Chinese tech companies, but some investors have a different view. The KraneShares CSI China Internet ETF saw record inflows this week, according to Bloomberg. On Tuesday, Wood told investors, "From a valuation point of view, these stocks have come down and again from a valuation point of view, probably w...
Tags: Internet, China, US, Trends, Markets, Bloomberg, Alibaba, Tencent, Wood, Murphy, Susquehanna, Didi, Chris Murphy, ETF, Didi Chuxing, Cathie Wood


India poised for record VC year as unicorns head for decisive IPOs

In case you’ve not been paying attention, we’ll say it again: The global venture capital industry is on fire. The second quarter of 2021 was the largest single three-month period on record for dollars invested. The data coming in points to a worldwide boom. The United States’ startup market had a huge Q2, and investors don’t expect the pace to slow in the country. Europe is also having one hell of a year. Around the world, 2021 is shaping up to be a breakout year for venture investment into star...
Tags: Fundings & Exits, Startups, Europe, Ipo, India, Tech, United States, Alibaba, Venture Capital, Private Equity, Zomato, Unicorns, Blume Ventures, Paytm, MobiKwik, The Exchange


Indian digital payments giant Paytm files for $2.2 billion IPO

Digital payments giant Paytm, one of India’s most valuable startups, plans to raise up to $2.2 billion in an initial public offering, it said in draft papers submitted to the country’s market regulator on Friday. The Noida-headquartered firm — backed by Alibaba (which, alongside Ant Financial, owns 36% of Paytm), Berkshire Hathaway, and SoftBank (owns about 18% stake) among others — said (PDF) it will issue new shares worth $1.1 billion and offer sale worth of $1.1 billion. Paytm, which was unti...
Tags: Google, Asia, Finance, Ipo, India, Softbank, Tech, Alibaba, Berkshire Hathaway, Fidelity, Goldman Sachs, Payments, Ant Financial, Zomato, UPI, Vijay Shekhar Sharma


China's Alibaba to Lead Fund for Greater Bay Area Via Startup Fund

SHANGHAI (Reuters) -Chinese e-commerce giant Alibaba Group Holding Ltd will anchor a fund for startups in China's Greater Bay Area, the company...
Tags: China, Shanghai, Alibaba, Reuters, Alibaba Group Holding Ltd, Greater Bay Area, Greater Bay Area Via Startup Fund


TikTok's parent company isn't the first Chinese firm to reportedly cancel its IPO plans - but it may get to avoid the public embarrassment Jack Ma faced

ByteDance CEO & cofounder Zhang Yiming. Visual China Group via Getty Images; Ruobing Su/Business Insider Bytedance was reportedly planning on going public before China told it to focus on its data security risks. The TikTok parent company then reportedly paused its listing plans as China continues its Big Tech crackdown. The reported move could save Bytedance and its CEO from the tribulations Jack Ma and his Ant Group saw recently. See more stories on Insider's business page. TikTok...
Tags: News, China, Ipo, Trends, Getty Images, Alibaba, Jack Ma, Wall Street Journal, Cnbc, Ma, Big Tech, Tech Insider, Bytedance, Tiktok, Katie Canales, Ant Group


The 2020s will be a crucial decade for China, and even its leaders know the good times may not last

Chinese leader Xi Jinping. Li Xueren/Getty Images The 2020s will be a crucial decade for China as it readjusts to being richer, older, and more resource-deprived. China's own policymakers have expressed concerns for the future, seeming to realize that the good times may not roll on forever. See more stories on Insider's business page. For the past four decades, a narrative has taken hold among policymakers and the general public alike suggesting that China's rise will continue ...
Tags: Hong Kong, California, China, US, Trends, European Union, Joe Biden, Taiwan, Foreign Affairs, Beijing, West, United States, Xi Jinping, Malaysia, Pakistan, Alibaba


TikTok owner ByteDance has reportedly canceled its upcoming IPO as China cracks down on tech companies

Rafael Henrique/SOPA Images/LightRocket/Getty Images TikTok's owner ByteDance held off on offshore IPO plans after talks with Chinese officials, The Wall Street Journal reported. ByteDance's founder indefinitely shelved the plans in March. China launched a security review of Didi two days after the ride-hailing app went public in the US in June. See more stories on Insider's business page. ByteDance, the Chinese company that runs the popular short-form video app TikTok, will...
Tags: Hong Kong, China, Ipo, US, Trends, Markets, Bloomberg, Beijing, Alibaba, Tencent, New York Stock Exchange, Wall Street Journal, WSJ, Reuters, Cyberspace Administration of China, Didi


China to Rein in U.S. IPOs by Entertainment Companies

The Chinese government on Saturday announced tough new rules that will limit mainland tech firms listing on U.S. stock markets. Surprisingly, this looks like being an area where the two superpowers are likely to agree. The move will prevent a repeat of the embarrassing incident that took place this month where ride hailing giant Didi […]
Tags: Asia, News, Finance, China, Ipo, Global, Alibaba, iQiyi, Didi


China's 'wolf warrior diplomacy' has come to Wall Street

Chinese President and Chairman of the Communist Party Xi Jinping appears on a large screen as performers dance during a mass gala marking the 100th anniversary of the Communist Party on June 28, 2021 at the Olympic Bird's Nest stadium in Beijing, China. Kevin Frayer/Getty Images China's assertive, nationalistic behavior - known as "wolf warrior diplomacy" - has come to the financial markets. This week Beijing punished a Chinese tech company that listed on the New York Stock exchang...
Tags: Hong Kong, Florida, Congress, Washington, Senate, China, US, Trends, Beijing, Pennsylvania, Gop, United States, Shanghai, Alibaba, Tencent, Marco Rubio


The 36 questions that lead to love (but with your co-founder)

After months of beta testing, Y Combinator has launched a co-founder matching platform. The platform invites entrepreneurs to create profiles, which include information about themselves and preferences for a co-founder, such as location and skill sets. It digests that information and offers a number of potential candidates that fit those needs — kind of like Tinder for co-founders. To date, the accelerator says it has made 9,000 matches across 4,500 founders. Y Combinator is obviously well posit...
Tags: Amazon, TC, Facebook, Y Combinator, Softbank, San Francisco, Tech, United States, Pakistan, Alibaba, EC, Instacart, Alex, Pittsburgh, Acrylic, Ny Times


Data, not arms, the key driver in emerging US-China cold war | Robert Reich

Cybersecurity comes down to which side has access to more information about the other and can utilize it bestThis week, shares in China’s giant ride-hailing app Didi crashed by more than 20%. A few days before, Didi had raised $4.4bn in a massive IPO in New York – the biggest initial public offering by a Chinese company since Alibaba’s debut in 2014.The proximate cause of Didi’s crash was an announcement by China’s Cyberspace Administration that it suspected Didi of illegally collecting and usin...
Tags: Business, New York, China, Economics, World news, US foreign policy, US news, Asia Pacific, Alibaba, US economy, Robert Reich, Didi, US China, Cyberspace Administration


In Another Blow To Didi, China Halts Downloads of 25 More of Its Apps.

In its latest rebuke to the ride-hailing giant Didi, China ordered 25 more of the company's apps removed from mobile stores on Friday, deepening the regulatory maelstrom that has engulfed the company since it went public on the New York Stock Exchange last week. From a report: The country's internet regulator said in its 10 p.m. announcement that the apps -- which include Didi's car-pooling app, its finance app and its app for corporate customers -- showed problems related to the collection and ...
Tags: Wall Street, China, Tech, Beijing, Alibaba, New York Stock Exchange, Didi, Didi China


China Market Regulator Asks E-Commerce Platforms to Rid of Fake Quality Report Sellers

BEIJING (Reuters) - China's market regulator said on Thursday it had asked E-commerce platform firms including Alibaba's Taobao and Pinduoduo to...
Tags: Beijing, Alibaba, Taobao, Reuters China, Pinduoduo, China Market Regulator Asks E Commerce Platforms