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Alibaba is the world’s biggest e-commerce group. Founded by Jack Ma, it owns and its consumer-to-consumer business Alibaba Group is the owner of the South China Morning Post....more
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China is apparently keen to avoid the ascendancy of ‘moneymakers’ over ‘thing makers’ in Western economies that has helped create economic inequalities and social friction.
Beijing has made it clear that action against Alibaba and Ant Group seeks healthier development of the industry, while economic stability remains a top priority.
Older people have struggled to adapt to living in a society where everything is increasingly done online – prompting the government to intervene to ensure they can still access essential services.
SCMP ColumnistWang Xiangwei
With 2020 the deadline set by President Xi Jinping to eliminate extreme poverty in the nation, the hi-tech industry must spread its wealth and help rural areas in the less-developed provinces progress.
Future growth depends on the tech sector, but if the tech giants are allowed to run wild, it will defeat the purpose of propelling the economy forward.
With companies such as Ant, ByteDance, Huawei and Nio inspiring clones in the West, China is becoming an innovation epicentre. Rather than keep Chinese companies out, the West should make clear the areas of collaboration or protection.
The Singles’ Day e-shopping bonanza will confirm the colossal changes that are roiling the retail sector worldwide, as the Covid-19 pandemic pushes consumers online and creates new and often unexpected surges and drops in demand.
New money system to be set up by Beijing will be convenient for the public, make life harder for criminals and may help counter US dollar dominance
Chinese companies are increasingly focusing on developing supply chains to leverage data and consumer insights. Firms could target international and domestic consumers using data from e-commerce giants, with the main players shifting to meet demand for advanced technology.
The supply chain disruptions sparked by Covid-19 have forced SME manufacturers to search anew for a business model that is more responsive to consumer needs. One solution is a cloud-based system that leverages data for critical information, to ensure SMEs make to sell, rather than to stock.
If given the green light, a proposal by local bourse to change the IPO rule on corporate share ownership will enable the likes of New York-listed Tencent Music and online learning company Youdao to make their ‘homecoming’, triggering another wave of re-listings and IPOs
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