If the golden age of cross-border e-commerce was a grand feast, the aftermath has proven far more complicated than anticipated. Recent developments surrounding Kuajingtong (formerly Globalegrow) have thrust its founder Xu Jiadong into the spotlight, as an official investigation notice sparked widespread attention.
Xu claims the investigation stems from personal financial disputes and private conflicts with Yang Jianxin, Kuajingtong's actual controller, rather than corporate misconduct. He alleges persistent targeting by Yang since his forced departure from Globalegrow in 2021.
The situation has drawn sharp reactions from Globalegrow's suppliers, many expressing concerns over unpaid debts and accounting irregularities. While Yang has yet to publicly address the allegations, multiple suppliers have come forward with complaints about payment delays and difficulties in debt recovery.
Lin Fengsheng of Yihaitong Co., Ltd. reported that Globalegrow owed his company 1.94 million yuan between 2018-2019, with alleged accounting alterations complicating repayment efforts. In a more severe case, Guo Weijian, legal representative of Shenzhen Di'ao Technology, stated that unpaid debts exceeding 1 million yuan directly contributed to his company's bankruptcy.
While some industry insiders maintain confidence in Xu's character, the veracity of both the supplier claims and the founder-controller dispute remains subject to official investigation. Affected suppliers have indicated plans to pursue legal avenues for debt resolution.
This case extends beyond personal reputations, touching upon vital supplier interests and broader questions about business integrity in China's cross-border e-commerce sector. Regulatory involvement may help clarify the situation and deliver equitable resolutions to all parties involved.