20 h. ago TikTok’s sister app Douyin courts merchants with lower deposit fees

TikTok owner ByteDance, whose Douyin short video app has emerged as a popular e-commerce shopping platform in China, will cut the guarantee deposit payable by merchants, in a move designed to keep existing sellers and lure new ones amid fierce competition. The deposit, held by the platform on behalf of sellers to cover potential costs such as refunds or penalties, would be capped at 5,000 yuan (US$695), a fraction of the previous maximum of 500,000 yuan. As a result, the deposit payable by...

Events

3 d. ago Labubu becomes bait for China’s Ping An Bank to lure young customers

Hoping the world’s trendiest monster will scare up some new customers, China’s Ping An Bank is rewarding those who open new accounts with a Pop Mart Lababu doll amid fierce competition for young customers among Chinese retail banks. New clients who open a savings account and deposit more than 50,000 yuan (US$6,954) for at least three months could receive a blind box from the first or second series of the Chinese toy retailer’s popular collectibles, according to media reports. Customers who also...

Economics

5 d. ago Microplastics from biodegradable material may be linked to diabetes, study finds

Microplastics from a widely used biodegradable material can enter the metabolic cycle of bacteria and cells in the gut after being ingested, a new study has found. Researchers in China and the United States said the microplastics – from polylactic acid – were found to alter the gut metabolism and damage the gut barrier of mice. They said this could potentially contribute to conditions like inflammatory bowel disease and diabetes. “This is the first time in the world that microplastics have been...

Politics

1 week ago Novo Nordisk faces fierce competition in China’s diabetes drug market

Competition in the mainland Chinese market for diabetes and weight loss drugs is set to intensify as more than 60 late-stage drug candidates are undergoing clinical trials, according to a recent report. Up to 20 biosimilar or generic copies will vie for market share and add pricing pressure after Denmark-based Novo Nordisk’s semaglutide product loses patent protection in China next year, according to Boston-based global consultancy L.E.K. Consulting. Novo Nordisk’s patent will expire in 2031 in...

Events

3 w. ago After WHO loses its top donor in US, Novo Nordisk Foundation and China step up with large contributions

After WHO loses its top donor in US, Novo Nordisk Foundation and China step up with large contributions  Fierce Pharma

Politics

3 w. ago Pfizer Inks Up to $6B Deal to Market 3SBio's Cancer Drug Outside China

Pfizer Inks Up to $6B Deal to Market 3SBio's Cancer Drug Outside China  Investopedia

Economics

3 w. ago ‘China’s Ozempic’ may vie with Eli Lilly, Novo Nordisk for global weight

Drug manufacturers to focus on China and Japan, where penetration is low and innovation continues to emerge, Morgan Stanley says.

Politics