President Bola Tinubu on Monday told the seven new ministers in his cabinet that they will be criticised and abused for joining his administration. “You will be part of criticism and abuse. Don’t worry; stay focused; stay resilient,” the Nigerian leader told the ministers at their inauguration ceremony on Monday at the State House, Abuja. … Read more
China’s top economic planner has reassured private entrepreneurs it will “spare no effort” to help companies “conquer difficulties”, in Beijing’s latest move to revive the economy. Zheng Shanjie, head of the National Development and Reform Commission (NDRC), hosted a meeting on Friday with representatives from several private companies to learn about business conditions, problems they … Read more
“Alibaba may gradually become more attractive to some long-only funds because it is, after all, the largest e-commerce stock in China,” said Shawn Yang, senior analyst at Arete Research. “The expectations of macro improvement may be passed on to these consumer stocks. Alibaba is the largest among them, and its situation is improving.” Alibaba, owner … Read more
That could all be true. But might there be a small possibility that some Chinese people are also simply growing out of their obsession with Western luxury brands, just like how I outgrew my obsession with jeans? I vividly remember the first time I saw a pair of blue jeans. I was still in secondary … Read more
International online budget-shopping platform Temu, owned by Chinese e-commerce giant PDD Holdings, saw its gross merchandise value (GMV) surge to about US$20 billion in the first half of this year, according to a Chinese media report, surpassing its overall sales of US$18 billion in 2023. Apart from showing strong growth from overseas markets, Temu reached … Read more
Chinese tech shares have raced ahead of earnings, and investors expect companies to deliver in an improving economy before buying more stock, according to an analyst who once questioned the sector’s investibility. “We are still looking at roughly 20 per cent to 25 per cent of share price upside,” given improving cost structure and less … Read more
Hangzhou-based Alibaba, owner of the South China Morning Post, on Thursday signed a deal to sell 26.5 million Baozun shares to Champion Kerry for US$21.8 million, according to Baozun’s latest regulatory filing. Those shares represent about 14.4 per cent of the total outstanding shares of Baozun as of March 31 this year. That transaction followed … Read more
Chinese state media have warned that job interviews conducted by AI could worsen gender and age discrimination and violate labour laws as the country seeks to leverage the technology for its economic recovery. The official Economic Daily on Monday called on employers to be aware of potential risks while using the technology, highlighting that artificial … Read more
Chinese e-commerce giant JD.com is investing more than 6.5 billion yuan (US$900 million) with partners to bolster this year’s nationwide trade-in programme for home appliances and consumer goods, part of Beijing’s efforts to energise the country’s post-pandemic economic recovery. Most of that investment will be used to subsidise consumers for trading in their home appliances … Read more
By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory scrutiny and fierce competition from old and new rivals. The … Read more
