Latest news with #CISSYZHOU
Nikkei Asia
7 days ago
- Business
- Nikkei Asia
China's food delivery wars taking a bite out of Alibaba's, others' profits
Food delivery riders of and Meituan in Shenyang, China. Platforms are offering deep discounts to attract users. CISSY ZHOU HONG KONG -- China's food delivery war rages on as the three big platforms, Alibaba Group, Meituan and vie to become the ultimate gateway for consumer spending in Asia's largest economy. The battle ignited by JD heated up further over the weekend, with platforms announcing that both orders and users had reached record highs on the back of heavy subsidies. The frenzy came after reports that some users had received free bubble tea and coffee over the previous two weekends, leading to a surge in shares of Hong Kong-listed Chinese bubble tea brands last week.
Nikkei Asia
11-07-2025
- Business
- Nikkei Asia
TikTok reorganizes US operations as Trump 'deal' still up in the air
China-based ByteDance now has until September to divest TikTok's U.S. operations or face a ban in the country. YIFAN YU and CISSY ZHOU PALO ALTO, California/HONG KONG -- TikTok is restructuring its U.S. operations, including revamping its trust and safety team and its e-commerce arm TikTok Shop, as the popular social media app waits for clarity on a deal to sell its American business that President Donald Trump indicated was close. The ByteDance-owned platform has undergone a major overhaul of its trust and safety and TikTok Shop teams, including layoffs in multiple U.S. offices, according to two people familiar with the matter. The layoffs are partly a reorganization in preparation for the spin-off of TikTok's U.S. operations, and partly an internal adjustment after TikTok Shop failed to reach certain performance goals, the people said.
Nikkei Asia
06-06-2025
- Automotive
- Nikkei Asia
Car carrier fire in Pacific spotlights EV safety but details murky
CISSY ZHOU HONG KONG -- A fire on a ship carrying thousands of cars, including those from major Chinese auto brands, across the Pacific Ocean has renewed industry concerns about a possible tightening of regulations for transporting lithium battery-powered electric vehicles. The cargo ship Morning Midas, carrying approximately 3,000 vehicles, including around 800 EVs, was abandoned on Tuesday after a fire broke out during its voyage from China's Yantai port to Mexico. All crew members were safely evacuated.
Nikkei Asia
27-05-2025
- Automotive
- Nikkei Asia
BYD price bombshell raises specter of wider China EV consolidation
CISSY ZHOU HONG KONG -- Chinese EV champion BYD's major offensive in the country's electric vehicle price war is forcing competitors to follow suit and could drive further consolidation in the sector, analysts say. Since the beginning of this year, BYD has repeatedly launched limited-time "fixed price" or subsidy campaigns, effectively reducing prices through means such as manufacturer subsidies and cash discounts. Last Friday, the automaker made its biggest such move yet: Until the end of June, buyers will get discounts of up to 34% on 22 of its battery-powered and plug-in hybrid models.
Nikkei Asia
02-05-2025
- Business
- Nikkei Asia
US tariffs force China's e-retailers to revamp overseas sales model
CISSY ZHOU HONG KONG -- Temu and other Chinese cross-border retailers are overhauling their business models as exemptions to U.S. import duties are set to end on Friday, with the changes leaving individual sellers on these platforms bearing more of the risks of doing business in America. Temu, the bargain-based platform of PDD Holdings, previously shipped most of its products for overseas markets from China. But on Friday, it said it has recently transitioned its U.S. operations to a local fulfillment model, meaning that all sales to U.S. customers are now handled by sellers based in the country and orders fulfilled from within its borders.
