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Pinduoduo, which final yr briefly dethroned Alibaba Group Holding as China’s largest e-commerce platform by variety of energetic consumers, reported only a 2.6 per cent income progress in fourth quarter final yr, in an indication that client spending on the earth’s second-largest financial system is waning amid a broad financial slowdown and inflexible Covid-19 management measures.The Shanghai-based firm, which leverages the social community of its shoppers to advertise on-line gross sales, is understood for its aggressive pricing,…
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