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Alibaba Faces $2.8 Billion Fine From Chinese Regulators

China on Saturday said it was imposing a record $2.8 billion fine on the e-commerce titan Alibaba for monopolistic business practices, the government’s toughest action to date in its campaign to regulate the country’s internet giants more closely.Beijing’s market watchdog began investigating Alibaba in December for potential antitrust violations including preventing merchants from selling their goods on other shopping platforms. On Saturday, the regulator said its investigation had concluded that Alibaba had hindered competition in online retail in China, affected innovation in the internet economy and harmed consumers’ interests.The fine on Alibaba, one of China’s …

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China gets serious about antitrust, fines Alibaba $2.75B

Chinese regulators have hit Alibaba with a record fine of 18 billion yuan (about $2.75 billion) for violating anti-monopoly rules as the country seeks to rein in the power of its largest internet conglomerates.
In November, China proposed sweeping antitrust regulations targeting its interent economy. In late December, the State Administration for Market Regulation said it had launched an antitrust probe into Alibaba, weeks after the authorities called off the initial public offering of Ant Group, the financial affiliate of Alibaba.
SAMR, the country’s top market regulator, said on Saturday it had determined that Alibaba had been “abusing market dominance” since 2015 …

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Beyond Meat opens its first production plant in China

About a year after Beyond Meat debuted in China on Starbucks’s menu, the Californian plant-based protein company opened a production facility near Shanghai to tap the country’s supply chain resources and potentially reduce the carbon footprint of its products.
Situated in Jiaxing, a city 85 km from Shanghai, the plant is Beyond Meat’s first end-to-end manufacturing facility outside the U.S., the Nasdaq-listed company said in an announcement on Wednesday.
Over the past year, competition became steep in China’s alternative protein space with the foray of foreign players like Beyond Meat and Eat Just, as well as …

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With a Big Tax Break, Hong Kong Tries to Soothe the Rich

HONG KONG — Political opposition has been quashed. Free speech has been stifled. The independent court system may be next.But while Hong Kong’s top leaders take a tougher line on the city of more than seven million people, they are courting a crucial constituency: the rich. Top officials are preparing a new tax break and other sweeteners to portray Hong Kong as the premier place in Asia to make money, despite the Chinese Communist Party’s increasingly autocratic rule.So far, the pitch is working. Cambridge Associates, a $30 billion investment fund, said in March it planned to open an …

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H&M and Other Brands Face Backlash From Chinese Consumers

Faced with accusations that it was profiting from the forced labor of Uyghur people in the Chinese territory of Xinjiang, the H&M Group — the world’s second-largest clothing retailer — promised last year to stop buying cotton from the region.But last month, H&M confronted a new outcry, this time from Chinese consumers who seized on the company’s renouncement of the cotton as an attack on China. Social media filled with angry demands for a boycott, urged on by the government. Global brands like H&M risked alienating a country of 1.4 billion people.The furor underscored how international …

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China’s Anger at Foreign Brands Helps Local Rivals

Tim Min once drove BMWs. He considered buying a Tesla.Instead Mr. Min, the 33-year-old owner of a Beijing cosmetics start-up, bought an electric car made by a Chinese Tesla rival, Nio. He likes Nio’s interiors and voice control features better.He also considers himself a patriot. “I have a very strong inclination toward Chinese brands and very strong patriotic emotions,” he said. “I used to love Nike, too. Now I don’t see any reason for that. If there’s a good Chinese brand to replace Nike, I’ll be very happy to.”Western brands like H&M, …

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Fueled by pandemic, contactless mobile payments to surpass half of all smartphone users in U.S. by 2025

Among other technology trends accelerated by the Covid-19 pandemic, the use of contactless mobile payments boomed in 2020. According to a recent report by analyst firm eMarketer, in-store mobile payments usage grew 29% last year in the U.S., as the pandemic pushed consumers to swap out cash and credit cards for the presumably safer mobile payments option at point-of-sale.
Last year, 92.3 million U.S. consumers age 14 or older used proximity-based mobile payments at least one time during a 6-month period in 2020 — a figure the firm expects to grow to reach 101.2 million this year. And that usage is now on track to …

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Japan Is Finding It Harder to Stay Quiet on China’s Abuse of Uyghurs

TOKYO — Last summer, Halmat Rozi, a Uyghur Muslim living in Japan, received a video call from his brother in China’s western Xinjiang region. His brother said he had someone he wanted Mr. Rozi to meet: a Chinese security officer.China’s top leader, Xi Jinping, had been invited to Japan, and the officer had some questions. Were Mr. Rozi and his fellow Uyghur activists planning protests? Who were the group’s leaders? What work were they doing? If Mr. Rozi cooperated, his family in China would be well cared for, the officer assured him on a second video call. …

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BBC’s John Sudworth Leaves China, Citing Growing Risks

At times, the propaganda campaign zeroed in on Mr. Sudworth, a longtime BBC correspondent who won a George Polk Award last year for his reporting on the internment camps in Xinjiang. The Foreign Correspondents’ Club of China said on Wednesday that Chinese state media had posted videos of Mr. Sudworth online using footage obtained from police cameras.Last month, The Global Times, a state-backed nationalist tabloid, published a widely circulated article attacking Mr. Sudworth for his Xinjiang reporting and accusing him of being an “anti-China” journalist backed by “foreign forces,” including the United States.“In the past few years, the …

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Britain Holds On to a Colony in Africa, With America’s Help

The cause is a little-known group of 55 islands in the middle of the Indian Ocean known as the Chagos Archipelago. For 150 years they were part of the British colony of Mauritius. Then, in 1965, at the instigation of President Lyndon Johnson, Britain decided to separate the islands from Mauritius and, at just the time that the world was agreeing the era of colonialism was over, created a new colony, called the British Indian Ocean Territory. One of the islands, Diego Garcia, was leased to the United States for a military base.Mauritius got its independence in 1968, but without Chagos. The entire …

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