Colin Huang, the 41-year-old founder of budget e-commerce platform Pinduoduo, has stepped down as chairman. Alibaba is said to be planning to launch Taobao Deals, a Pinduoduo rival, as a WeChat mini program. JD.com will invest $800 million in the on-demand delivery platform Dada Nexus. An online...

Weibo, one of China’s biggest social media platforms, said that it will start to block user links to all but a select number of websites within weeks, in an effort to fight fraud.Why it matters: The clampdown is likely close off the majority of the internet to the platform’s...