Today at the CIIE, Alibaba Group promised to help import $200 billion worth of goods from more than 120 countries over the next five years, underscoring the company’s long-term commitment to globalization and efforts to meet Chinese consumers’ rising demand for high-quality international products.
As Nov.11 is approaching, Cainiao, a Chinese logistics firm mostly owned by Alibaba, opened the largest robotic smart warehouse in China to prepare for the upcoming huge demand.
Alibaba Group and Richemont, a Switzerland-based luxury goods holding company, announced a global strategic partnership today with the purpose of bringing the retail offerings of YOOX NET-A-PORTER GROUP S.p.A. (YNAP), the world’s leading online luxury retailer, to Chinese consumers.
In Ep. 26 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma discuss Koubei, rounding up the second installment of a two-part deep-dive into the local services space in China. An Alibaba subsidiary, Koubei recently merged with ele.me, another Alibaba-owned (via acquisition) entity which was covered in Ep. 25 last week.
Chinese e-commerce giant JD.com partnered with World Wide Fund for Nature (WWF) and The China Children and Teenagers’ Fund (CCTF) to launch the second-annual “Green Planet-Sustainable Week” event.
Gucci expressed reluctance on the topic of cooperating with Chinese e-commerce platforms led by Alibaba and JD.com due to concerns of counterfeiting scandals, according to Financial Times.
On the afternoon of Sept. 27, JD.com Inc. announced that the online retail platform JD CENTRAL, built together with Thai conglomerate Central Group of Companies, will officially launch on Sept. 28 in Thailand.
Alibaba Group, the biggest e-commerce company in China, is setting up its own chipmaking subsidiary, Pingtouge Semiconductor Company, to make its in-house artificial intelligence inference chips.
The Computing Conference, one of the Alibaba Group’s largest and most renowned events, opened on Sept. 19 in Hangzhou. Executive chairman Jack Ma, as well as his successor, Alibaba’s current CEO Daniel Zhang, both spoke about Alibaba’s future at the main forum on opening day.
On Sept. 17, Ant Financial announced the company’s technological capabilities, growth strategy, and planned partnerships with financial institutions in hopes of creating long-lasting customer values, enhancing user experience, and establishing a strong growth momentum.
Taobao, China’s leading e-commerce platform, developed by Alibaba Group kicked off its third Taobao Maker Festival in Hangzhou, China on Sept. 13.
Alibaba Group, the largest e-commerce platform in China, has announced on Sept. 10 that chief executive officer Daniel Zhang will succeed Jack Ma as chairman of the board, effective one year from now.
MissFresh, a fresh produce e-commerce platform, announced the completion of their Series D fundraising on September 6. The $450 million round is lead by Goldman Sachs Investment Partners (GSIP) and Tencent Holdings Ltd., followed by Tiger Global Management and four new investors.
News of Liu Qiangdong’s arrest broke out over the Labor Day weekend in the U.S. city of Minneapolis. Liu, chairman and CEO of the Chinese e-commerce retailer JD.com Inc., was briefly arrested for alleged criminal sexual misconduct and has since been released from custody.
After going public in July, the e-commerce giant Pinduoduo Inc. (PDD) released its first quarterly report on Aug. 30, showing some big gains and even bigger losses.