China's richest man, Zhong Shanshan, accuses tech giants Pinduoduo and ByteDance of harming his company.

Zhong Shanshan, China's richest man and founder of Nongfu Spring, has criticized tech giants Pinduoduo and ByteDance, blaming them for a price war and online attacks that have cost his company tens of billions of dollars. Zhong accused Pinduoduo of harming Chinese brands through aggressive pricing and ByteDance for failing to control negative rumors. He also criticized the Chinese government for being "negligent" in not preventing these practices, amid an economic downturn.

November 21, 2024
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