Portfolio News

Pinduoduo sold RMB 65 billion in goods from anti-poverty program in 2018

Chinese social e-commerce platform Pinduoduo said on Tuesday that it earned sales revenue of more than RMB 65 billion (around $9.7 billion) in 2018 from a special program that sells farm produce from poverty-stricken regions. The report on the program is a timely response to announcements made during the central government’s annual Two Sessions meetings, promoting new poverty relief initiatives with the help of information technologies.