BEIJING - With market-trembling new rules and investigations, Beijing’s crackdown on its most prominent companies has seeped into nearly every aspect of modern life, wiping billions of dollars from Chinese and Hong Kong-listed stocks and bamboozling investment sages.
Meituan and rival Alibaba-owned Ele.me have come under fire in recent months after local media exposed the dangerous routes taken by drivers on tight delivery deadlines. Their fortunes were built by capitalising on China’s hyper-competitive education system where parents try to give their children any advantage they can afford.Market-leader Didi Chuxing was banned from Chinese app stores in early July, just days after raising $4.4 billion in a New York IPO.
China banned crypto trading in 2019 and multiple provinces have ordered energy-intensive crypto-mining outfits to shut down in recent months, citing concerns about spiking power consumption.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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