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The Latest Breaking News from WeChat

China Pushes to Quell Protests Over Billion-dollar Banking Scandal

The scandal has drawn national attention as Beijing is struggling to maintain economic growth in the face of President Xi Jinping's commitment to a zero-Covid policy that has prompted widespread lockdowns and a resulting economic slowdown.

The News Lens

Yeahka Ramps Up E-Commerce Bid, But Investors Cash Out

Key takeaways: Yeahka’s push into the highly competitive e-commerce space comes as growth slows for its core mobile payments business Company’s stock has fluctuated since its 2020 listing, and now trades near its IPO price after a roaring start in early 2021 By Trevor Mo

Benzinga

China censors strive to filter or erase details of mortgage protests

As China grapples to contain a mortgage boycott that has triggered rare protests, censors have gone into overdrive with social media messages blocked, videos of demonstrations wiped and key word searches coming up blank.

Reuters

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Influence Empire by Lulu Chen review – the story of China’s Tencent

A fascinating study of the tech giant and its symbiotic relationship with the Chinese government

The Guardian - UK

WeChat Is China’s Most Beloved (and Feared) Surveillance Tool

This one app became so powerful that it could have posed a real threat to Beijing’s rule, the new book Influence Empire reveals.

Businessweek

China Cracks Down On Counterfeit Investment Platforms

China's cyberspace regulator has cracked down on counterfeit investment platforms, Reuters reports.

Benzinga

Why China's JD Is Giving Rival Tech Giant Tencent An Additional $220M Stake

Chinese e-commerce giant JD.Com Inc (NASDAQ: JD) on Wednesday said that it renewed its strategic cooperation agreement with the tech and gaming giant Tencent Holdings (OTC: TCEHY) for a period of three years.

Benzinga

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As China shuts out the world, internet access from abroad gets harder too

TAIPEI, Taiwan — Most internet users trying to get past China's Great Firewall search for a cyber tunnel that will take them outside censorship restrictions to the wider web. But Vincent Brussee is looking for a way in, so he can better glimpse what life is like under the Communist…

Los Angeles Times

Macro Headwinds Accelerate Cango's Drive to Car Trading from Auto Finance

Key Takeaways: Cango’s revenue fell 30% in the first quarter, led by a 74% decline in its legacy auto financing business that the company is de-emphasizing in favor of broader auto trading services

Benzinga

Universal Beijing Resort to Reopen on June 25 as COVID Cases Drop

The Universal Beijing Resort said on Wednesday it will reopen on June 25 after being closed for nearly two months, as the number of new COVID-19 cases in the Chinese capital falls. The resort said on its official WeChat account that after it reopens, all visitors must show a negative…

Asharq Al-Awsat

Macro Headwinds Accelerate Cango's Drive to Car Trading from Auto Finance

Key Takeaways: Cango’s revenue fell 30% in the first quarter, led by a 74% decline in its legacy auto financing business that the company is de-emphasizing in favor of broader auto trading services

Benzinga

TikTok Says Oracle to Keep US User Data Safe

TikTok on Friday said Oracle will store all the data from its US users, in a bid to allay fears about its safety in the hands of a platform owned by ByteDance in China. The announcement came as the popular video snippet sharing service fended off concerns about the ability…

Asharq Al-Awsat

Forever 21 Takes Third Crack at China with New Bricks and Mortar Store

American fast fashion retailer Forever 21 is making its third tilt at the China market, with plans to open a physical store in the country later this month. The brand said on social media platform WeChat that it would open a store "in June" at Jingjiang Impression City shopping center…

Asharq Al-Awsat

China’s Wavering Position on Russia’s Invasion of Ukraine Threatens Its Legacy at Home and Abroad

Beijing’s official policy has remained ambiguously in support of the Russian cause, but against its consequences.

The News Lens

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The Independent UK

Strategist: Last Australian government lost Chinese votes

A campaign strategist says the previous Australian government’s stance against a more aggressive China drove away many Chinese-Australian voters at recent elections who considered the administration’s language had licensed racism

Caixin Global

Zhang Mei: Will Inbound Travel Return to China?

China’s international brand images is important to the travel industry, and that’s not something money can buy

Benzinga

China Will Lose Ability To Access Amazon's Kindle E-Book Store From 2023

Amazon.com, Inc (NASDAQ:AMZN) looks to cease operating its Kindle e-book store in China from the end of June 2023, Reuters reports based on the e-commerce giant's official WeChat account. China's customers will no longer be able to purchase new e-books from June 2023 for reasons undisclosed. Also Read: Microsoft Brings Down Curtains On LinkedIn…

Asharq Al-Awsat

Amazon to Pull Kindle Out of China

Amazon.com said that from Thursday it will stop supplying retailers in China with its Kindle e-readers and will shut its Kindle e-bookstore in the country next year, the latest pullback by a US tech firm from the restrictive Chinese market. Amazon announced the decision on its official WeChat account on…

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news in one place.

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ABC News

Celebrations at midnight as Shanghai reopens after draconian two-month COVID-19 lockdown

Small groups have gathered in Shanghai's former French Concession neighbourhood at midnight, whistling, shouting "ban lifted" and clinking glasses of champagne.

Asharq Al-Awsat

After Two Months, a Scarred Shanghai’s COVID-19 Lockdown Ends

Following two months of frustration, despair and economic loss, Shanghai's draconian COVID-19 lockdown ended at midnight on Wednesday morning, prompting celebrations tempered with fear that an outbreak could return. Most of Shanghai's 25 million residents can now freely leave home, return to work, use public transport and drive their cars…

Reuters

After two months, a scarred Shanghai's COVID-19 lockdown ends

Benzinga

Chinese Social Media Weibo Bans Another Business Leader After He Questions China's Zero Covid Policy

Weibo Corp (NASDAQ:WB) banned Trip.Com Group Limited (NASDAQ:TCOM) co-founder and Chair James Liang for alleged violation of laws, Reuters reports. The social media company neither elaborated on the violation nor cited the reasons behind the ban. Liang had recently questioned the wisdom of the country's zero-COVID strategy as the country's Presidential election draws closer. Also…

ABC News

Chinese-language publisher offers election candidates gushing praise on WeChat. But the flattery comes with a price tag

A mysterious media agency is behind a fee-for-service offering to federal election candidates, including Treasurer Josh Frydenberg, placement of favourable news articles and interviews on the Chinese-language social media platform WeChat.

Asharq Al-Awsat

China Eastern Crash Probe Looks into Crew Actions

Investigators looking into the crash of a China Eastern Airlines jet are examining the actions of the crew on the flight deck, with no evidence found of a technical malfunction, two people briefed on the matter said. In mainland China's deadliest aviation disaster for 28 years, the Boeing 737-800 crashed…

Reuters

Shanghai residents leverage Excel skills, management savvy to navigate lockdown

China's worst COVID-19 outbreak has frayed nerves and stirred resentment among many residents of Shanghai but some have thrived in the face of adversity, stepping up with bright ideas and commitment to help their communities through the crisis.

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