SHANGHAI -- China's crackdown on Big Tech has shifted the balance in the country's e-commerce market, with JD.com and Pinduoduo continuing to thrive while industry leader Alibaba Group Holding bears the brunt of the damage, earnings releases show.
Retail
Alibaba squeezed by crackdown as JD.com and Pinduoduo pounce
Regulatory scrutiny and scandals put e-commerce leader on the ropes
JD.com's e-commerce business has boomed, though rising costs in its logistics business dragged down overall earnings. © Reuters
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