Home 

Alibaba marks 20-year milestone with pledge to push forward global e-commerce expansion

Alibaba Group Holding’s new executive chairman, Daniel Zhang Yong, pledged to advance the e-commerce giant’s strategies of expanding beyond China, serving domestic consumption and push into advanced technologies in a speech at the company’s 20th anniversary celebration on Tuesday.“We must further advance our three strategies, that is globalisation, [catering to] domestic needs, big data and cloud computing,” Zhang, also the company’s chief executive, said on stage at the Hangzhou Olympic and… Source link

Read More
Home 

Baidu expands cloud services in Singapore to catch up with rivals Alibaba, Tencent

Internet search giant Baidu has launched cloud computing services in Singapore, as the company moves to catch up with Chinese rivals Alibaba Group Holding and Tencent Holdings in Southeast Asia’s biggest information technology market.Nasdaq-listed Baidu will focus on supporting mainland Chinese companies expanding in the region, as well as meeting the requirements of domestic firms for “high-performing, secured and reliable” cloud services, the company said in a statement on Monday.It is… Source link

Read More
Ecommerce 

Alibaba posts 42 per cent gain in quarterly revenue, defying slowdown in China

Alibaba Group Holding beat estimates to report a 42 per cent revenue increase in the quarter ended June 30 amid signs of strain in China’s economy from the protracted trade war with the US. New York-listed Alibaba on Thursday posted better-than-expected revenue of 114.9 billion yuan (US$16.7 billion) in its fiscal first quarter, up from 80.9 billion yuan a year ago. Net income jumped 145 per cent to 21.3 billion yuan in the same quarter. “Alibaba had a great quarter, expanding our user base… Source link

Read More

Alibaba posts 42 per cent gain in quarterly profit, defying slowdown in China

Alibaba Group Holding beat estimates to report a 42 per cent increase in revenue in the quarter ended June 30 amid signs of strain in China’s economy from the protracted trade war with the US.New York-listed Alibaba on Thursday posted better-than-expected revenue of 114.9 billion yuan (US$16.7 billion) in its fiscal first quarter, up from 80.9 billion yuan a year ago. Net income reached 21.3 billion yuan for the same quarter.The e-commerce giant’s financial results are seen by many investors as… Source link

Read More
China 

China nudges top tech firms from Tencent to Alibaba to give new life to struggling state giants

China is pushing ahead with plans to upgrade its lumbering state-owned enterprises, directing its leading technology firms to increase investment in underperforming SOEs.Internet companies such as Tencent were being encouraged to forge stronger ties with state firms, Chinese media quoted Hao Peng, Communist Party boss of the country’s assets watchdog, the State-owned Assets Supervision and Administration Commission (Sasac), as saying. Sasac directly supervises more than 50 trillion yuan (US$7.2… Source link

Read More
Home 

E-commerce giants Alibaba and JD.com by far the dominant retailers in Asia-Pacific, Euromonitor study finds

Chinese e-commerce giants Alibaba Group Holding and JD.com were Asia-Pacific’s top retailers by sales last year, with combined revenues of US$444.5 billion, dwarfing Hong Kong’s GDP of US$363 billion. According to the Top 100 Retailers in Asia-Pacific report by global market research company Euromonitor International, Alibaba generated sales of US$243.5 billion last year, up by about a quarter from US$196.9 billion in 2017. Alibaba owns the South China Morning Post. JD.com, China’s second… Source link

Read More
Home 

Alibaba to take on Amazon, launching new business-to-business platform for US companies

Alibaba Group launched a business-to-business (B2B) online marketplace for US companies on Tuesday, taking on its US rival Amazon.com as part of the Chinese e-commerce giant’s plan to grow its market share internationally.In a further push for Alibaba to grow its business outside China, the new Alibaba.com platform will let US manufacturers, distributors and wholesalers sell their products and services to other American and global businesses and wholesalers.Alibaba shareholders approve one-to… Source link

Read More
Ecommerce 

US e-commerce platforms “far behind” Alibaba on anti-counterfeiting efforts, US subcommittee hears

E-commerce platforms in the US have much catching up to do when it comes to preventing counterfeit activities, compared to platforms such as Alibaba, according to a US congressional hearing on counterfeiting and trademarks.At a recent round table with brand owners and platforms, “we learned Alibaba’s anti-counterfeiting policies and programs are significantly more effective than any of their US counterparts,” said Doug Collins, a Republican congressman and ranking member of the House Judiciary… Source link

Read More
Home 

Alibaba shareholders approve one-to-eight stock split, which could ease potential Hong Kong secondary listing

Alibaba Group Holding’s shareholders overwhelmingly approved a 1-to-8 split of the company’s US-listed stock, a move the company has said would give it greater flexibility for raising capital, including issuing new shares, according to a US securities filing late on Monday.The approval comes as the company is reportedly considering a secondary listing of its shares in Hong Kong.Alibaba ramps up global e-commerce expansion with English Tmall portalBloomberg previously reported that Alibaba, the… Source link

Read More
Home 

Alibaba ramps up global e-commerce expansion with launch of English Tmall portal

Alibaba Group Holding is ramping up its international e-commerce expansion with the launch of an English-language portal on Tmall, a move that is expected to double the number of global brands on its flagship retail site.The English-language portal on Tmall Global, China’s largest cross-border online shopping platform, was launched on Wednesday with the goal to lure more merchants and businesses from around the world to sell high-quality imported products to consumers in the world’s second… Source link

Read More