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A display at the Nasdaq Market Site shows a message after Chinese online group discounter Pinduoduo (PDD) was listed on the Nasdaq exchange in Times Square in New York City, New York, on July 26, 2018. Mike Segar/Reuters
BEIJING—Chinese regulators are investigating Pinduoduo after media reports surfaced about third-party vendors selling counterfeit goods on its group-discounting marketplace.
The probe exposes long-standing problem—Beijing’s hopes of upgrading consumption over the years has failed to materialize for large numbers of poor Chinese, despite a recent economic boom.
Frank Fang is a Taiwan-based journalist. He covers news in China and Taiwan. He holds a Master's degree in materials science from National Tsing Hua University in Taiwan.
