China’s richest man has hit out at online shopping platforms, accusing them of starting price wars that have damaged a wide range of companies and industries ...
PDD Holdings, the Chinese owner of online shopping platforms Temu and Pinduoduo, reported disappointing sales and profit, as Chinese consumers continued to hold back amid an economic slowdown.
CEO Chen Lei expressed his goal in 2021 to continue subsidies so as to replace Alibaba as the shopping platform of choice for the 1 billion consumers in ... billion of profits into agricultural ...