Trending in China: Zhang Zetian at Paris Fashion Week, Tencent Stock Tumbles

Zhang Zetian makes frequent appearances during Paris Fashion Week
As the 23-year-old unofficial face of JD Fashion, Zhang Zetian appeared at shows for Dior and Guo Pei during Paris Fashion Week. Zetian is also a member of the American Apparel and Footwear Association. JD.com is no stranger to fashion week. The e-commerce giant, founded by Richard Liu, Zetian’s husband, has held fashion shows at New York fashion week.

Weibo user comment: “Zhang Zetian’s fashion look needs a major upgrade if she wants to be the face of JD fashion.”

LeEco CEO. Photo: VCG

LeEco employees demand payback after the company’s million dollar debt
In a hot summer day in Beijing, retailers and ads vendors held a sit-in in the lobby of the headquarters of LeEco demanding that LeEco return the millions that are owed them.

Last week, a Shanghai court froze $182 million in assets linked to the Chinese tech company’s chairman, Jia Yueting, after an affiliate skipped a loan payment.

The internet empire built on LeTV, known as the Netflix of China, has been struggling with debt in recent years that piled up to fund its rapid expansion into the production of cars and smartphones.

Weibo user comment: “Last year Jia Yueting (LeEco’s CEO) wanted to build his company into a combination of Apple and Tesla, perhaps his ego clouded his judgment.”

Tencent Chairman and CEO Pony Ma attends a news conference announcing the company’s results in Hong Kong, China March 22, 2017. Photo: Tyrone Siu/VCG

Tencent tumbles after a viral mobile game was criticized as “too addictive”
Ranked as the highest grossing mobile game in the world in May, Tencent-produced viral hit Honor of Kings is drawing sharp media criticism for being too addictive for Chinese youth. Tencent paid high consequences for it, losing $17.5 billion in the market value of its stock. Experts predict that the government surveillance on the game industry will ramped up as a result.

Weibo user comment: “The responsibility of limiting playtime lays on the parents and society, not on Tencent.”

Photo: VarnaK/Shutterstock.com

400 live deer being auctioned on Taobao
In more unusual e-commerce news, after a court dispute, the owner of a deer company is incapable of keeping up the maintenance for its animals, 400 deer are left looking for a new home. A local judge will be auctioning off the live animals in August on Taobao.

Weibo user comment: “After an oil tanker and commercial buildings, now deer. I wonder what Taobao will auction next.”

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