Some of China’s most high-profile billionaire tech barons have seen their fortunes fade in 2021, but new business models and market trends have driven vast wealth creation for others.

Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba.

TikTok appointed Shouzi Chew, a Singaporean national, as the new chief executive officer of the hot video-sharing platform, the company said on

Kuaishou’s blockbuster IPO has focused minds on China’s short video space, where several apps are clamouring for attention. Which platforms are the right fit for fashion and beauty brands?

Fashion brands caught in the crossfire are doing what they can to avoid the worst possible outcomes from the escalating US-China conflict but it will be virtually impossible to emerge unscathed.

The legal challenge would not shield TikTok owner ByteDance from having to divest the app, but shows its willingness to prevent TikTok deal negotiations from turning into a fire sale.

Every US-based fashion company that does business with China or with Chinese consumers will be impacted by a ban on WeChat, but some brands will be hit harder than others.

Tight new restrictions could mean trouble — and relief — for brands who have made livestreaming a key part of their sales strategy. But the Chinese government isn’t the only thing worrying brands about the booming channel.