Key takeaways:
JD.com’s founder Richard Liu is stepping down from his CEO role but will remain as the company’s chairman focused on long-term strategy
Some analysts believe China internet companies face greater risk from regulation at home and abroad than from changes in their top ranks
By Ken Lo
The more contagious omicron strain of COVID-19 is testing China’s zero-tolerance COVID-19 policy and while many signs underscore the strategy’s adverse impact on the country’s economic recovery, Beijing continues to stick to it, dismissing suggestions that China should learn to live with the virus as other nations do.
Shares of U.S.-listed Chinese electric automakers Nio Inc. (NYSE: NIO), Xpeng Inc. (NYSE: XPEV), and Li Auto Inc. (NASDAQ: LI) struggled in Hong Kong on Wednesday.