E-commerce tycoon Colin Huang tops China’s rich list

Quick Summary:

E-commerce tycoon Colin Huang has become China’s richest man, capping an ascent for the former Google employee whose shopping site Temu has sucked in consumers with its low prices and powerful algorithms.

Its success dovetailed with persistent high inflation that has pushed cost-conscious consumers to hunt for bargains, and it has since taken off in Europe, Latin America and elsewhere.

This photo taken on July 26, 2018 shows Colin Huang delivering a speech during the launch of PDD’s initial public offering in Shanghai.

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Article Details

Author / Journalist: Agence France-Presse

Category: Technology

Markets: Hong KongChinaSouth KoreaUnited States

Topics: Huang China Taken China’s April Consumers E-commerce Europe Success Temu Unfair

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 16:05:04 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 460 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21997237

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