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Alibabai

Alibaba is China's largest e-commerce company, with holdings in a wide portfolio of businesses from logistics, cloud services and finance to media. The company provides business-to-business, business-to-consumer and other services through platforms including Alibaba.com, Tmall, and Taobao. Alibaba is the owner of the South China Morning Post. It was co-founded by Jack Ma, who retired as chairman in 2019 but is still a major shareholder.

 

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  • Alibaba acquired a controlling stake in Sun Art in 2020 from the billionaire Mulliez family
  • The executive reshuffle comes as Alibaba continues to adjust its offline retail businesses as part of a sweeping restructuring

Alibaba’s e-commerce platform AliExpress is betting on the European market by sponsoring Euro 2024, a move that comes after its rival Temu cracked the US market through ads that ran in the Super Bowl.

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E-commerce logistics giant Cainiao will launch an ‘entrepreneurship incentive plan’ that will double the bonus pool allocated for its financial year ending March 31, 2025.

Mobile payments made through 16 wallets supported by Alipay+ now account for 10 per cent of total tourist spending in Japan, unit president Douglas Feagin says.

ByteDance’s website listed more than 320 generative artificial intelligence-related job openings as of Tuesday, up from 307 vacancies posted a month earlier.

This initiative escalates ByteDance’s efforts to expand the reach of its social media operation into a potentially large e-commerce revenue stream.

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Taobao has recently featured three online stores under the 1688 name as it pushes to win over new users amid rising competition in China’s e-commerce space.

Alibaba has scrapped the planned Hong Kong IPO for its logistics unit Cainiao, deciding to double down on its investment in the strategically important unit.

China’s biggest generative artificial intelligence (AI) developers, including Baidu and Alibaba, have upgraded their chat bots to handle super long texts of up to 10 million Chinese characters.

Pinduoduo founder Colin Huang grew his wealth by 71 per cent to become the richest Chinese tech entrepreneur, aided by a rally in its US-listed shares.

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The AI start-up says it is working to expand the service capacity of its Kimi chatbot, which has been adding new users rapidly after announcing a technological breakthrough.

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Customers who place an order in the US on AliExpress can now expect to receive their parcel in five days, according to Alibaba’s logistics unit Cainiao.

From April 1, EHang’s EH216-S electric vertical take-off and landing vehicle will be available in overseas markets at a suggested retail price of US$410,000.

The reported cash injection comes as the Chinese tech giant and its rivals double down on overseas markets, even though fast growth is bringing some logistics challenges.

The European Commission also is looking into whether the company did enough to prevent minors from accessing pornographic material via its online marketplace.

Official welcomes investment, while Federation of Hong Kong Filmmakers spokesman Tenky Tin says funding is largest he can recall by private sector.

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Alibaba’s fresh push of AI tools comes amid increasing competiton among Chinese e-commerce players to woo consumers across the world amid sluggish growth at home.

Ant Group’s Alipay and Tencent’s WeChat Pay are enhancing operations to make it easier for foreign travellers to pay for goods and services on the mainland, the world’s largest cashless society.

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GSR Ventures’ Allen Zhu sees the current investor interest generated by artificial intelligence start-ups that are building large language models as based on a ‘fear of missing out’.