Source: Tech – South China Morning PostCommunity group buying platform Nice Tuan, backed by Alibaba Group Holding, has ceased operations in multiple cities and laid off staff, becoming the latest firm to face setbacks in the highly competitive industry once considered the future of retailing in China.The 3-year-old company, once a rising star in the industry, halted operations in Xian in Shaanxi province, Taiyuan in Shanxi province, and the Hubei cities Xiangyang and Jingzhou, according to people familiar with the matter.A Nice Tuan…Read More