• Chinese consumers spend over $100B during shopping festival

    Chinese consumers spend over $100B during shopping festival

    Chinese consumers spent over $100 billion during this year’s Singles’ Day shopping festival, signaling a rebound in consumption as China recovers from the coronavirus pandemic and a battering of
  • China gears up for world’s largest online shopping festival

    China gears up for world’s largest online shopping festival

    HONG KONG — Chinese consumers are expected to spend tens of billions on everything from fresh food to luxury goods during this year’s Singles’ Day online shopping festival, as the country
  • Ant Group’s $37 billion IPO suspended, shocking investors

    Ant Group’s $37 billion IPO suspended, shocking investors

    China suspended Ant Group’s $37 billion stock market listing on Tuesday, thwarting the world’s largest IPO with just days to go, in a dramatic move that left investors and bankers scrambling for
  • Chinese ANT (Alipay) launches largest IPO in history ($ 34 billion)

    Chinese ANT (Alipay) launches largest IPO in history ($ 34 billion)

    Billionaire Jack Ma sets a new record with his giant ant - in 2014 his Alibaba IPO had already broken all records. Today, this new mega-IPO responds perfectly to the wishes of Beijing, which wants to see the national flagships of the technology sector listed on national stock exchanges (Shanghai and Hong Kong), in a period of heightened rivalry with the United States. United. Ant Group is the parent company of Alipay, an essential payment system in China, which claims 700 million monthly users for an annual transaction volume equivalent to 14,000 billion euros.
  • Alibaba’s Jack Ma quits SoftBank board after $18B Vision Fund loss

    Alibaba’s Jack Ma quits SoftBank board after $18B Vision Fund loss

    Billionaire Alibaba founder Jack Ma on on Monday resigned from SoftBank’s board in what is the latest departure by a high-profile ally of CEO Masayoshi Son. SoftBank didn’t give a reason for Ma’s resignation, but it came the same day that SoftBank’s giant Vision Fund reported a staggering $18 billion annual operating loss — the …
  • Online grocery deliverers struggle to satisfy coronavirus demand

    Online grocery deliverers struggle to satisfy coronavirus demand

    A pandemic forcing everyone to stay home could be the perfect moment for online grocery services. In practice, they’ve been struggling to keep up with a surge in orders, highlighting their limited ability to respond to an unprecedented onslaught of demand. After panic-buying left store shelves stripped of staples like pasta, canned goods and toilet …
  • China’s retailers offer deals to kick-start spending amid coronavirus decline

    China’s retailers offer deals to kick-start spending amid coronavirus decline

    Electronics stores, coffee chains and even local authorities in China are slashing prices and handing out millions of dollars worth of discount coupons to kick-start an economy battered by gradually easing virus-fighting restrictions on movement. GOME Retail Holdings and Suning.com plan to hand out over 620 million yuan ($88 million) worth of vouchers, while Alibaba’s …