China’s market regulator has slapped Meituan, the country’s biggest food delivery and on-demand services app, with an anti-monopoly fine of more than $500 million. The penalty for Meituan is part of the Chinese government’s broader regulatory crackdown on the country’s biggest internet companies such as Alibaba, Tencent and Didi. The size of Meituan’s fine is smaller than the regulator’s...
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Another Major Venture Firm to Separate China Investment Partners Following U.S. Pressure
GGV Capital, a prominent venture capital firm managing $9.2 billion in assets, plans to separate its China and U.S. teams following scrutiny from lawmakers in Washington about the national security implications of the firm’s investments in Chinese artificial intelligence and semiconductor firms, according to a notice the firm sent to its investors on Thursday. The move comes a few months...
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