Dozens fired by PDD after fistfight with China officials, Bloomberg reports

PDD Holdings (PDD) fired a government relations team in Shanghai following a fistfight between employees and Chinese regulators which occurred during an investigation into reports of fraudulent deliveries on PDD’s e-commerce platform, and involved staff and officials from the State Administration for Market Regulation, Bloomberg reports. The incident has heightened government scrutiny of PDD, which may face repercussions from the SAMR and is already dealing with a slowdown in the Chinese consumer environment and increased competition from rivals.