China Roundup: Probe on ride-hailing firms, new rule for payment firms on IPOs, and more

Regulators probe Didi, other ride-hailers over illegal operation allegations

• The firms were summoned by China’s Ministry of Transport, along with other regulators such as the Ministry of Industry and Information Technology and the Ministry of Public Security, to rectify unlawful actions.
• One of the allegations is that companies are recruiting unapproved drivers and vehicles, a move that disrupts China’s fair market competition.
• Other companies summoned include Meituan, Cao Cao, AutoNavi, Dida, and Shouqi.

Central bank requires Alipay, WeChat Pay to report IPOs and product rollouts before launch

• The People’s Bank of China is implementing measures that would require nonbank payment apps to file disclosures before and after the launch of significant business matters like listing on a stock exchange.
• Companies will also have to file a notice for partnerships with non-Chinese firms.
• The central bank also ordered payment firms to report major data breaches and money laundering incidents within two to 24 hours upon discovering such events.

JD Logistics units partner with Walmart’s wholesale brand for autonomous deliveries

• Deliveries of Sam’s Club, the member-only wholesale club operated by Walmart, will be carried out by JD Logistics’ unmanned vehicles, which are connected to JD-owned distribution platform Dada Express.
• Users can receive their products within an hour through the new offering, JD said.
• Dada Express plans to work with its partners to continue improving the service and offer it to more retailers and supermakets.