Alibaba

A screenshot showing Alibaba's headquarters in the eastern Chinese city of Hangzhou during Singles Day 2020. (Image credit: TechNode) Chinese e-commerce giants including Alibaba and JD.com have announced new record-breaking sales for Singles Day, the 11-day shopping extravaganza that ended Wednesday at midnight. Why it matters: Singles Day, typically a…

 Alibaba sales for its post-COVID-19 Singles’ Day shopping extravaganza hit $74 billion, a haul that was overshadowed by a 10% drop in its shares on Wednesday after China published draft anti-trust rules aimed at internet platforms. The world’s biggest sales event – eclipsing Black Friday and Cyber Monday in the United…

What Happened: In a surprise move, Beijing has begun to regulate big tech — and the ramifications are already being felt. Domestic conglomerates such as Alibaba, Tencent, and Meituan have had billions wiped-out in light of these new antitrust guidelines. The crackdown will address transparent pricing of products, unfair competition,…

GMV as of 12:30am CST 11 November 2020 Image: Alibaba Alibaba Group kicked off the main event for its annual 11.11 Global Shopping Festival at midnight local time on Wednesday, with hopes of exceeding the $38 billion in sales it clocked up last year. 30 minutes into November 11, total…

Chinese technology companies have lost almost $290bn in market value over two days after the government launched new antitrust rules.The tech-heavy ChiNext index in Shenzhen fell 3.3 per cent and Shanghai’s Star 50 index dropped 3.2 per cent on Wednesday after a top official with the China Banking and Insurance…

(Source: Alibaba) Chinese e-commerce giant Alibaba’s Xunxi digital factory has participated in the annual Double 11 shopping festival for the first time.  Xunxi will provide several merchants with consumer insights to help them better predict the market demand for their products. This also gives them room to decide what to…

Staff at a warehouse in Lianyungang, Jiangsu Province check stored goods on November 5, 2020, ahead of the Alibaba-invented Singles’ Day shopping festival. Oriental Image via REUTERS. When the Shanghai Stock Exchange announced a week ago that regulators were halting the gargantuan IPO of Ant Group, the exact reasons for the…

Chinese e-commerce giant Alibaba (NYSE: BABA) has formed a strategic cooperation with automaker SAIC Motor in the so-called automobile new retail sector on Monday, amid the industry’s recovery following the COVID-19 pandemic, 36Kr reported. Under the new retail cooperation, which combines online and offline sales, users of Alibaba’s e-commerce platforms,…

(Global Times) US singer Taylor Swift sent her best wishes to Chinese fans in a video played during the Tmall Global Double 11 Event livestream on Sunday night. Her message began trending quickly on Sina Weibo, with the related hashtag reaching 500 million views on Monday. During the pre-recorded video, the star…

Our top articles of the week look at Alibaba’s new online gaming push which is finally scoring a win and the departure of more partners from SoftBank’s Vision Fund.Read More