LONG BEACH—March was the Port of Long Beach’s busiest month in its 110-year history and only the third month that the port handled more than 800,000 20-foot equivalent units in a single month, officials announced April 8. March is traditionally a slow month for the port, officials said, but this past March, the dockworkers…
March Marked Port of Long Beach’s Busiest Month in History
April 8, 2021
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Founder of Chinese E-Commerce Firm Pinduoduo Departs
HONG KONG—Colin Huang, founder of the Chinese e-commerce firm Pinduoduo, stepped down as chairman Wednesday just as the company’s annual user base surpassed that of rival Alibaba. Huang, who founded Pinduoduo in 2015 and is China’s third-richest man with a net worth of about $56 billion, said that he is giving up the chairmanship to…
China Insider: Ant Group Subjected to CCP’s Financial Regulation
January 7, 2021
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Ant Group, a subsidiary of China’s e-commerce giant Alibaba, has recently been repeatedly summoned to a meeting with the four major financial regulators of the Chinese Communist Party (CCP). The central bank of the CCP has also come forward to accuse Ant Group of arbitrage violations and asked the group to rectify them. The central…
Sudden Death of 22-Year-Old at China’s Largest E-commerce Platform Stirs Criticism From Netizens
A 22-year-old female worker of Pinduoduo, a large mainland Chinese e-commerce company currently listed on the Nasdaq, who died suddenly after finishing work late at night, has drawn nationwide attention to the company’s workplace policies, and criticism of its online response. News of the employee’s sudden death circulated online since her death on Dec. 29….
US Holiday Retail Sales Rise 3 Percent as Online Shopping Booms, Mastercard Report
U.S. retail sales rose 3 percent during this year’s expanded holiday shopping season from Oct. 11 to Dec. 24, a report by Mastercard Inc said on Saturday, powered by a pandemic-driven shift toward online shopping. U.S. ecommerce sales jumped 49 percent in this year’s holiday shopping season, according to Mastercard SpendingPulse report, underscoring the COVID-19…
US Holiday Retail Sales Rise 3 Percent as Online Shopping Booms, Mastercard Reports
U.S. retail sales rose 3 percent during this year’s expanded holiday shopping season powered by a pandemic-driven shift toward online shopping, a report by Mastercard Inc. said on Dec. 26. U.S. e-commerce sales jumped 49 percent in this year’s holiday shopping season, from Oct. 11 to Dec. 24, according to the Mastercard SpendingPulse report, underscoring…
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