Why China Is Teaming Up With Russia To ‘De-Dollarize’?

What happened: Back in January, the Economist noted that the Trump administration’s “aggressive use of sanctions endangers the dollar’s reign.” And now, the Nikkei Asian Review reports that China and Russia are teaming up to ease their dependency on the American dollar. Experts highlight how this occurrence could lead to a “financial alliance” between the two […]

How Luxury Brands Can Profit From China’s Top E-Commerce Trend

On August 5, Jing Daily’s editor-in-chief, Enrique Menendez, hosted a webinar on how luxury brands can profit from China’s hottest new e-commerce trend — e-commerce livestreaming. The conversation featured speakers Sky Canaves, the editorial director of Content Commerce Insider (CCI); Kevin Jiang, the president of international business at JD.com fashion and lifestyle; Masha Ma, owner and […]

Tencent Seeks Greater Share Of China Tech Market

What happened: Tencent Holdings Limited (“Tencent”) sent a preliminary, non-binding offer to acquire the search engine operator Sogou for $2.1 billion. According to a press release, Tencent intends to finance the proposed acquisition with cash, and it is offering $9 in cash for each outstanding ordinary share, including ordinary shares represented in American depositary shares of […]

Can Meituan Go From Delivering Groceries to Delivering Luxury Products?

What happened: While Alibaba retains a 1.48% stake in Meituan, a Chinese group buying website for locally found food delivery services, consumer products, and retail services, the relationship between the two giants have soured after the Beijing-based app joined Tencent. Furthermore, since Ant Financial announced its intent to grow beyond financial services and create a […]

After a Tough Q1, Ralph Lauren Expects A Full Recovery in Q2 For China

Luxury lifestyle group Ralph Lauren Corporation reported $487 million in revenue for Q1 of fiscal year 2021, down 66 percent compared to $1.4 billion a year earlier, missing analysts’ expectation. The group, which owns an umbrella of Ralph Lauren brands, Club Monaco, and Chaps, suffered from COVID-19 disruptions across the board. “Our financial performance this quarter […]