Alibaba Group Holding

China’s internet giants must step up opening their ‘walled gardens’, state media says, ahead of Tencent flagship game’s return to Douyin

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“In the future, internet companies need to be more open-minded and inclusive to promote truly win-win cooperation in the industry,” the Securities Times article said. Increased collaboration between China’s major internet companies are expected to not only benefit consumers, but help further expand the industry, according to state media. Photo: Shutterstock While China’s gross domestic … Read more

Alibaba, TikTok woo US with AI and live-streaming e-commerce at CES trade show, setting the tone for 2024

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“With advances in AI, we are ushering in the next generation of sourcing and empowering small businesses to succeed with our Smart Assistant at their side,” Chris Lu, general manager at Alibaba.com North America, said in a statement last week. The Alibaba.com booth features the e-commerce platform’s artificial intelligence-powered Smart Assistant, designed to help users … Read more

China price wars help spark US$157 billion rout in mainland consumer stocks as Alibaba, Yum China and BYD drag the market

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Gauges of consumer stocks have been the worst performers on the MSCI China Index since the end of September, after the real estate measure. The aggregate market value of companies included in the two consumer indexes has fallen by about US$157 billion since. Consumer stocks have been the worst performers on the MSCI China Index … Read more

Alibaba’s Taobao and Tmall Group pushes new AI tools to boost merchants’ service to consumers in first major move after leadership reshuffle

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The Taobao and Tmall Group (TTG) unveiled the new AI features, which are designed to improve services and attract new customers, at its “sellers’ conference” held on Tuesday in Hangzhou, capital of eastern Zhejiang province and home base of South China Morning Post owner Alibaba. TTG said AI models would be employed to transform Dianxiaomi, … Read more

JD.com’s on-demand delivery unit, Dada Nexus, loses 46 per cent of US stock value overnight amid internal inquiry into potential fraud

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An on-demand delivery firm affiliated with Chinese e-commerce giant JD.com lost 46 per cent of its stock value in New York on Monday, following an inquiry into “suspicious” data during an internal audit, dealing a fresh blow to confidence in China’s tech stocks. Dada Nexus, which operates JD Daojia and Dada Now, found 1 billion … Read more

Alibaba reduces stake in GoGoX amid Hong Kong logistics services firm’s mounting losses, as it faces cutthroat competition on the mainland

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Alibaba, which owns the South China Morning Post, has cut its GoGoX stake four times over the past two months, slashing its equity holding to 8.89 per cent as of late December from 12.23 per cent in mid-2023, according to Hong Kong stock exchange records. Following those moves, the biggest shareholder of GoGoX remains billionaire … Read more

Chinese e-commerce giant JD.com wins antitrust lawsuit against Alibaba, which was ordered by a Beijing court to pay US$141 million in damages

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The Beijing High People’s Court on Friday ruled that Alibaba, owner of the South China Morning Post, “abused its market dominance” and conducted the monopolistic tactic known as “ picking one from two”, which caused damage to JD.com’s business, according to a statement released on the same day by the Beijing-based online retailer. JD.com hailed … Read more

Chinese e-commerce firms JD.com and Alibaba’s Taobao roll out ‘refund only’ policy to shoppers, heating up rivalry with budget retailer Pinduoduo

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Cutthroat competition in China’s vast e-commerce sector is poised to escalate, as leading shopping platforms JD.com and Alibaba Group Holding’s Taobao offer a “refund only” policy so consumers can keep the goods they had bought but complained about – matching an option that budget online retailer Pinduoduo has had in place since 2021. JD.com on … Read more

Alibaba’s Damo Academy kicks off operations at new unit, with goal to recruit and train over 100 postdoctoral researchers in next three years

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Alibaba Group Holding’s Damo Academy has established a new research unit, which started recruiting the first batch of more than 100 postdoctoral candidates it aims to train, marking the Chinese e-commerce giant’s latest push to expand its global research programme in cutting-edge technologies. The new research unit will support these candidates’ postdoctoral work across various … Read more

Jack Ma-backed fishery-and-agriculture company 1.8 Meters starts sale of seafood products via Alibaba’s Freshippo and Tmall

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Dozens of orders had been placed for those two seafood products on Tmall as of Tuesday noon, which could be viewed by some as a lukewarm performance on the platform. Taobao and Tmall have more than 800 million monthly active users as of November. Alibaba owns the South China Morning Post. Dozens of orders had … Read more