Alibaba Group Holding has been named the world’s most admired Chinese internet and retail company, according to the latest rankings by US business magazine Fortune, as the technology giant unveils an artificial intelligence (AI) model aimed at competing with China’s hottest start-up, DeepSeek. The Hangzhou-based company, owner of the South China Morning Post, came third…
A Singapore-based ride-hailing service provider has launched in Hong Kong ahead of a government plan to regulate operators, with the newcomer providing fresh competition for market leader Uber. Tada, which touts a zero-commission model for drivers, began operating in the city on Thursday and will allow customers to pay by cash or credit card in…
By Kanjyik Ghosh (Reuters) -The president and financial chief of China’s Ant Group, Cyril Han, will take over from Eric Jing as chief executive from March 1, showed an internal memo seen by Reuters which was confirmed by a spokesperson. Han will continue to report to Jing who will remain as chairman, the memo showed….
After publishing a sobering warning about its future profitability, citing rising competition in its home market of China, PDD Holdings Inc. (NASDAQ:PDD) saw its shares plummet as much as 10% in early trading. The firm, which is up against rivals like Alibaba Group (NYSE:BABA), said that a lack of knowledge among its staff makes it…
By Scott Murdoch SYDNEY (Reuters) – Chinese ecommerce giant Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter. The company in a regulatory filing on Monday said it was considering carrying out the transaction. The dollar tranche would…
It is not often three Olympic gold medallists and Hong Kong’s greatest athlete are gathered in a room together to discuss mental strength, sacrifice and what it takes to win, so when the opportunity arises you listen. The first day of the Post’s Family Business Summit closed with a panel featuring China tennis star Zheng…
Chinese e-commerce platform JD.com has started accepting Alipay for payments after the announcement of its logistics deal with rival Alibaba Group Holding’s Cainiao, another sign that the “walled gardens” in China’s tech world are continuing to break down. Alipay, the largest mobile wallet in China operated by Ant Group, was made available for consumers shopping…
What’s Going On With Chinese Stocks Alibaba, NIO, XPeng, Li Auto On Wednesday? Alibaba Group Holding (NYSE:BABA) and domestic rival stocks continued their rally since China announced stimulus plans to spur demand. Alibaba peers, including Baidu, Inc. (NASDAQ:BIDU), JD.com, Inc. (NASDAQ:JD), and PDD Holdings Inc. (NASDAQ:PDD), traded higher on Wednesday. Last week, China’s central bank…
A woman and two chefs in China used an umbrella and kitchen tools to thwart a knife-wielding man during a street attack, earning widespread praise on mainland social media. On September 11, a photographer assaulted his female client with a fruit knife following an argument over her dissatisfaction with his work. The incident occurred on…
A small business in China has been devastated by the potential loss of 30 million yuan (US$4.2 million) after an employee accidentally labelled some of its washing machines with the wrong prices, triggering a buying spree. Little Swan Dongshan Franchise Shop, which also has a brick-and-mortar outlet in Jixi county, Anhui province in southeast China,…