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The Latest Breaking News from Meituan

Meituan's Latest Move Rivals Against Likes Of Alibaba, JD

Meituan (OTC:MPNGY), famed as the "Amazon.com Inc (NASDAQ:AMZN) of services" in China, looked to expand its bouquet of services, tech node reports. The giant service app, whose services ranged from food delivery to travel booking, expanded to selling physical goods akin to Amazon. Meituan's latest move fired up rivalry against China's domestic retail…

'That's A Buy Signal': Why Kevin O'Leary Just Bought Alibaba, Tencent And Meituan Stock

'That's A Buy Signal': Why Kevin O'Leary Just Bought Alibaba, Tencent And Meituan Stock

Chinese stocks are trading significantly lower Monday amid a COVID-19 outbreak in China's manufacturing hub, developments between China and Russia in relation to war and regulatory scrutiny of Tencent Holdings Ltd (Pink: TCEHY).

Tencent Follows Alibaba; To Slash Transaction Fees For SMEs

Tencent Follows Alibaba; To Slash Transaction Fees For SMEs

Chinese social media firm Tencent Holdings Ltd (OTC:TCEHY) looks to reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10%, Reuters reports. The reductions will apply beginning September 1, 2021, and extend to September 30, 2024. The merchants need to meet China's classification standards for small and medium-sized…

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Meituan Slashes Commissions Post Regulatory Order; Alibaba Could Be Next

Chinese food delivery firm Meituan (OTC:MPNGY) looks to lower commissions for merchants on its platform, Reuters reports. Other major food delivery platforms in China include Alibaba Group Holding Ltd (NYSE:BABA)-owned Ele.me. Meituan currently charges ~12% in commissions for its food delivery business, a unit accounting for more than 50% of its total revenue, according to…

Meituan Shares Get Butchered As China Introduces Tougher Laws

Meituan (OTC:MPNGY) shares shed ~15% after China issued new guidelines asking food delivery platforms to cut restaurant fees to reduce business costs, Bloomberg reports. Online food delivery platforms will have to offer preferential fees to restaurants in regions hit by the pandemic, as per the National Development and Reform Commission. Related Content: US Adds…

China Regulators Make Another Call for Better Protection of Gig Workers

Four central government ministries issue guidance order to 11 internet giants including Alibaba, Tencent, Meituan and Didi

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