1. Li Jiaqi in hot water again? A lotion set Li was selling was found to be more expensive than the one on the brand’s Taobao store. The brand chalked it up to a ‘system malfunction’ and issued refunds to all buyers. However, consumers who bought it on the brand’s official store still received the product, angering consumers who bought from Li’s stream. (Radii)
2. Relaxing Covid policies in China? Cities have reduced mass Covid testing and released people from quarantine camps. The changes also include banning local officials from overzealous lockdowns. This has fueled a market rally that sent a gauge of Chinese shares in Hong Kong up 17% in the past 2 weeks. (The Standard)
3. New regulation to boost self-employed businesses. The legislation addresses taxation, finance, social security, and employment policies. By September, China had 111 million self-employed firms, accounting for two-thirds of market entities. (China Daily)
4. Parcels all the way. China’s express delivery firms handled 552 million parcels on November 11, that’s 1.8 times the usual daily average. China’s courier sector handled 4.27 billion parcels from November 1 to 11. (Shine)
5. Sales of Chinese poverty-relief platform, fupin832, top US$4.17 billion. The platform selling products from previously disadvantaged regions has exceeded 30 billion yuan. (CGTN)
6. Alibaba to launch a digital human-device product in early 2023. Alibaba teams are creating a gadget interaction engine that digital humans can control. The first “Digital Human + Device” product is expected in the first quarter of 2023. (Pandaily)
7. Pinduoduo’s Temu to expand its business in Canada and Spain. Temu, a global e-commerce platform, has the average transaction value in the US between $20 and $25 and us now ready to expand further. (Technode)
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