Pandaily's Digest #20210412
Chinese Regulators Issue a $2.8 Billion Fine Against Alibaba, MissFresh Privately Submitted Prospectus to SEC, 58.com CEO Calls for Four Billion Yuan Anti-monopoly Fine on Beike and more.
Chinese Regulators Issue a $2.8 Billion Fine Against Alibaba for Violating Anti-Monopoly laws
Chinese state media Xinhua News reported that Chinese E-commerce giant Alibaba received an ¥18.2 billion(US$2.8 billion) fine earlier on Saturday.
China VC Weekly: Risk Management, Medicine and Architectural Tech
In this week’s China VC news, AI risk management solutions provider Ice Kredit raises a 228 million yuan Series C2 round, cancer and immune disorder treatment developer Innolake Biopharm bags $46 million to speed up R&D, while RoboticPlus.AI receives $20 million from BAI and C Ventures.
Chinese Grocery Start-up MissFresh Privately Submitted Prospectus to SEC
MissFresh, a Chinese e-commerce grocery platform, privately submitted its prospectus to the US Securities and Exchange Commission (SEC) a few days ago. The company is expected to go public in mid-June this year, for which it aims to raise more than $500 million.
58.com CEO Calls for Four Billion Yuan Anti-monopoly Fine on Beike
Shortly after the State Administration of Market Supervision imposed an administrative penalty of 18.2 billion yuan on Alibaba for monopolistic behavior, 58.com CEO Yao Jinbo on April 10 posted in his WeChat Moments to call for a national antitrust fine of four billion yuan to be imposed on its own competitor Beike, China’s leading online real estate platform.