BizChina

Thousands of angry users of bike-sharing giant Ofo have been lining up at its Beijing headquarters over the past few days to seek refunds for deposits paid, as the company faces accusations from netizens and the media that it is dragging its feet on the paybacks.

Once touted as a symbol of China's emerging sharing economy, cash-strapped Ofo is now struggling financially.

China released major reform measures of its individual income tax system over the weekend, a move that analysts expect will ease the burden on taxpayers, boost consumption and stabilize economic growth.

The revised rules of the individual income tax law and special individual income tax deductions will take effect on Jan 1, according to statements from the State Council on Saturday.

Uxin's CMO - Wang Xin.

Uxin Ltd, the Nasdaq-listed and largest used car e-commerce platform in China, and Taobao, the flagship e-commerce platform of the Chinese technology giant Alibaba Group, announced a strategic partnership on December 6 to foster further growth and expand service opportunities for used car e-commerce in China.

The two companies will set up an online used car shopping mall on Taobao Marketplace. At the initial stage, the two companies will provide services ranging from intelligent listing, displaying and matching, to one-stop transaction solutions. They will also provide videos and VR car viewing experience so that consumers can gain a comprehensive understanding of the car's condition.

Transactions between Chinese exporters and buyers from the United States during China’s largest trade event dropped sharply, mainly due to the trade conflicts between the two economic powers.

“The ongoing trade conflicts posed impacts on US buyers, bringing uncertainties to the international trade market,” said Xu Bing, spokesman of the China Import and Export Fair.