News Snapshot:
Eachnet.com , formerly a leading Chinese consumer goods auction site that was acquired by eBay, will cease operations after 23 years in business, making it the latest casualty of aggressive competition in the world’s biggest e-commerce market . The Shanghai-based company, which once had 70 per cent of China’s consumer online sales market, will shut down transactions on all its online stores and close the platform’s servers before August 12 because of a “change of operations”, according to an announcement posted on the site by operator Shanghai Yingshi Information Technology Co. Users will not be able to register, log in,...
