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jwt expired error betonline Social media and e-commerce platform Xiaohongshu is reportedly slashing around 20% of its workforce, Chinese media outlet Sina reported on Thursday, citing employees of the company. The layoff will affect staff, mainly fresh graduates and recently joined employees, across all business departments in both Beijing and Shanghai, the two major cities where the company operates from. The Instagram-like firm joins a lengthy list of tech firms that have started to trim their headcounts since last year. In October 2021, Xiaohongshu, also known as Little Red Book, was reportedly preparing for a Hong Kong IPO after suspending its US IPO plan in July due to Beijings tightened reviews on overseas listings. [Sina Tech, in Chinese]

jwt expired error betonline Some 142 Chinese companies are among the worlds 500 largest companies, according to the 2023 Fortune Global 500 list released on August 1. Chinese automaker BYD jumped from 436th last year to 212th this year with a total revenue of ,041 million in its previous fiscal year, according to the list. E-commerce giant JD dropped from 46th last year to 52nd this year with a total revenue of 5,433 million. Alibaba also saw a decline in ranking from 55th last year to 68th this year. Huaweis ranking dropped 15 places to 111th, Tencent dropped from 121st to 147th, Lenovo dropped 46 places to 217th, and Xiaomi fell 94 places to 360th. Major appliance manufacturer Gree, which was the 487th largest company in 2022, dropped out of the list altogether. Notably, food delivery giant Meituan entered the list for the first time at the 467th spot with a total revenue of ,699 million. Additionally, Shenzhen-based electric equipment manufacturer Luxshare and battery maker CATL also made their debuts on the list, ranking at 479th and 292nd respectively. [Fortune]