How coronavirus pandemic has derailed Asia’s booming online lending industry, much of it backed by Chinese money

https://ift.tt/eA8V8J The spring started out rosy for the Indian arm of ClearScore, a company that offers online credit scores and loans.Within weeks, the coronavirus pandemic had taken hold, drastically changing the picture for the online lending industry in Asia.“In the second week of March, we were talking about what a great quarter it would be […]

Apple joins live-streaming bandwagon with discounted iPhones for China’s midyear shopping festival

https://ift.tt/eA8V8J US tech giant Apple has joined China’s live-streaming e-commerce bandwagon with a special Tmall promotion for iPhones generating gross merchandise volume (GMV) of more than 500 million yuan (US$70.1 million) within the first five hours.Tmall, the online marketplace operated by e-commerce giant Alibaba Group, is offering discounts of up to 20 per cent on […]

Alibaba’s Taobao Live reaches sales of US$280 million in opening 90 minutes of China’s midyear shopping festival

https://ift.tt/eA8V8J Sales on Taobao Live, the live streaming platform for merchants using Alibaba’s Taobao marketplace, hit 2 billion yuan (US$280 million) just 90 minutes after the midyear shopping festival officially launched at midnight on June 1.During this year’s so-called 618 midyear shopping festival, over 300 celebrities including singers and actors will join live-streaming sessions on […]

Chinese flying taxi maker Ehang gets approval to test drone deliveries for cargo weighing over 150kg

https://ift.tt/eA8V8J Guangzhou-based Ehang, known for its ambitions to make flying taxis a reality, has obtained what it says is the world’s first commercial licence to test passenger-grade drones to transport heavy goods of more than 150kg.The Civil Aviation Administration of China (CAAC) has approved tests of Ehang’s 216 flying car for air logistics, making it […]

Alibaba pushes China’s social commerce model to the world, with influencer campaign on cross-border platform AliExpress

https://ift.tt/eA8V8J AliExpress, the cross-border e-commerce business of Alibaba Group Holding, aims to enlist more than 100,000 online influencers from around the world this year, helping create original content designed to attract and engage more users to the platform.This social commerce strategy, which has proven successful in China, is being introduced outside China via AliExpress Connect, […]

E-commerce giant Amazon in talks to buy autonomous vehicle start-up Zoox

https://ift.tt/eA8V8J Amazon is in talks to buy driverless vehicle start-up Zoox, according to people familiar with the matter, a deal that would accelerate the e-commerce giant’s automation efforts.Other companies in the automotive and chip industries have also held talks with Zoox about a potential investment, the people said. At least one other business besides Amazon […]

JD.com joins video platform Kuaishou in live streaming sales deal in time for China’s midyear shopping festival

https://ift.tt/eA8V8J Chinese e-commerce giant JD.com will partner with short video platform Kuaishou to boost its presence in live streaming as a growing number of traditional merchants move sales online following the countrywide lockdowns imposed during the coronavirus pandemic.The partnership comes ahead of China’s annual midyear 618 shopping festival and could give Beijing-based JD.com and Kuaishou […]

Amazon writes its own TV news segments to laud coronavirus pandemic response

https://ift.tt/eA8V8J After weathering a couple of months of withering news coverage about its response to the coronavirus pandemic, Amazon is offering its own take on the news.Several local TV news stations recently broadcast strikingly similar reports that focused on the safety measures the online retail giant has implemented at its warehouses, according to a video […]

JD boosts logistics network as China’s e-commerce players prepare for spending frenzy at 618 festival

https://ift.tt/eA8V8J Chinese e-commerce giant JD.com has expanded its logistics network to support growth in online consumption in the wake of the Covid-19 pandemic and as more traditional merchants move online.The Beijing-based company has added three more automated Asia No. 1 logistics parks in Langfang, Hebei province, Dezhou, Shandong province and Zhengzhou, Henan province to increase […]

Food delivery giant Meituan Dianping posts quarterly revenue decline amid Covid-19 disruptions

https://ift.tt/eA8V8J Meituan Dianping, China’s largest on-demand services provider, reported a 12.6 per cent drop in first-quarter revenue, as the coronavirus pandemic disrupted the company’s food delivery operations and other businesses across the country.Although the weak results in the March quarter were expected, Beijing-based Meituan warned that various factors, “including the ongoing pandemic precautions, consumers’ insufficient […]

Reliance launches JioMart online grocery service in challenge to Amazon and Walmart in Indian market

https://ift.tt/eA8V8J Reliance Industries has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon.com’s local unit and Walmart’s Flipkart in the huge Indian market.JioMart will deliver groceries in more than 200 towns across the country, Damodar Mall, chief executive of grocery retail at the […]

Pinduoduo beats revenue estimates as online shopping demand soars

https://ift.tt/eA8V8J China’s Pinduoduo beat first-quarter revenue estimates on Friday as more people shopped on its e-commerce platform during coronavirus lockdowns that have seen many bricks-and-mortar outlets closed.Stay-at-home orders have boosted demand for online shopping as people stock up on groceries and food items from home and sellers too turn to online platforms to run down […]

Alibaba sees 2021 sales topping US$91 billion on back of China recovery, more enterprises going digital

https://ift.tt/eA8V8J Alibaba Group Holding said it expects revenue for its 2021 financial year to reach more than 650 billion yuan (US$91.1 billion), as China’s domestic consumption recovers from the disruption caused by the coronavirus pandemic and more enterprises adopt digital operations.The Hangzhou-based e-commerce giant on Friday reported a 22 per cent increase in revenue for […]

Chinese e-commerce giant Alibaba to invest US$1.4 billion to build ecosystem around its Tmall Genie smart speaker

https://ift.tt/eA8V8J Chinese e-commerce giant Alibaba Group will invest 10 billion yuan (US$1.4 billion) this year to strengthen the artificial intelligence and Internet of Things (AIoT) ecosystem around its smart speaker Tmall Genie as Chinese tech companies bet billions on what is expected to be the next big thing after smartphones.The investment aims to expand Tmall […]

Tech platforms celebrate Chinese Valentine’s Day with discount HPV vaccinations, fatter digital red packets

https://ift.tt/eA8V8J In China, February 14 is not the only day of love celebrated. On the seventh day of the seventh lunar month, the Qixi Festival marks the meeting of the cowherd and weaver girl in Chinese mythology, and more recently there is May 20, a day for lovers spawned by the internet.The numerals 520 first […]

Facebook to launch new shopping feature across apps including WhatsApp, Messenger and Instagram

https://ift.tt/eA8V8J Facebook is launching Shops, a service that will allow businesses to display and sell products on the world’s largest social network’s platforms, chief executive Mark Zuckerberg said on Tuesday.The move to build up e-commerce offerings follows Facebook’s launch last year of limited shopping options on photo-sharing app Instagram and messaging app WhatsApp. Company leaders […]

Chinese state media blasts local officials for misuse of live-streaming sales intended to help poor farmers

https://ift.tt/eA8V8J China’s official news agency has criticised local government officials for using live-streamed shopping events as publicity stunts to try and improve their own image, pointing out that the original purpose of the e-commerce initiative was to help small merchants and farmers during the coronavirus pandemic.Some officials, who jumped on the live-streaming bandwagon to sell […]

Long term changes in behaviour from Covid-19 could make gaming, e-commerce boom sustainable, experts say

https://ift.tt/eA8V8J While the Covid-19 pandemic has drastically altered the way people work, shop and play in the short term, gaming and online shopping companies are counting on longer term changes in habits to propel more sustainable growth in these industries, according to speakers at the China Conference hosted by the South China Morning Post.Games could […]

Amazon defends itself from scrutiny as coronavirus crisis boosts profit and power

https://ift.tt/eA8V8J As Amazon becomes an increasingly important lifeline in the pandemic crisis, it is being hit with a wave of criticism from activists, politicians and others who question the tech giant’s growing influence.Amazon has perhaps become the most scrutinised company during the health emergency.It has boosted its global workforce to nearly one million and dealt […]

China’s once-resilient tech economy starting to crack under pressure from Covid-19 economic carnage

https://ift.tt/eA8V8J The Covid-19 pandemic has boosted certain sectors of China’s digital economy, with gaming, online education and food deliveries seeing a surge in users, but many internet-related businesses that intersect with the offline world have been hit hard and are implementing cost cutting measures such as lay-offs, salary reductions and hiring freezes.China’s version of Airbnb, […]

Live-streaming shopping a new black spot in e-commerce, China’s consumer rights watchdog says

https://ift.tt/eA8V8J China’s e-commerce landscape has been reinvigorated by live streaming, a trend that enables a growing army of small online merchants to sell everything from lipsticks and farm produce to smartphones and flats.Trouble is brewing, however, for live-streamed campaigns after the country’s consumer rights watchdog received a surge of complaints about product quality, fake deliveries […]

Coronavirus: Alibaba’s Lazada expands grocery sales in Asia, linking farmers with hungry customers

https://ift.tt/eA8V8J Farmers in Cameron Highlands, a cradle of Malaysia’s farming industry, dumped hundreds of tons of produce in March after Covid-19 lockdowns shuttered wholesale markets and restaurants across the nation. They also gave Alibaba a chance to crack a difficult arena.Lazada Group SA, the Southeast Asian subsidiary of Alibaba Group, which owns the South China […]

Chinese internet giant Baidu invests US$70.5 million in live streaming amid coronavirus-led boom

https://ift.tt/eA8V8J Baidu, China’s biggest internet search company and artificial intelligence (AI) champion, said it is investing a further 500 million yuan (US$70.5 million) to boost its live-streaming services, aiming to cultivate 1,000 star content creators amid a surge in online users during the coronavirus pandemic.“Baidu will promote the live-streaming business more proactively [this year],” said […]

JD.com-backed delivery platform Dada Nexus lines up for a US stock sale even as bitter aftertaste of Luckin Coffee’s scandal lingers

https://ift.tt/eA8V8J Dada Nexus, a Chinese crowdsourced on-demand delivery and retail platform backed by e-commerce giant JD.com, has filed for an initial public offering (IPO) in the United States according to a regulatory filing, shrugging off concerns about Chinese listings following recent accounting scandals at Luckin Coffee and two other Chinese companies.The listing could raise about […]

Alibaba’s business-to-business marketplace launches online global trade show for pandemic-hit merchants

https://ift.tt/eA8V8J Alibaba.com, the business-to-business (B2B) online marketplace owned by Chinese e-commerce giant Alibaba Group, launched its first global online trade show on Monday to help coronavirus-hit foreign trade merchants reach customers in China after most physical exhibitions have been cancelled due to the pandemic.The event, which will run until May 24, is expected to attract […]

Hong Kong mobile ticketing app The Gulu eyes expansion out of F&B sector after providing remote queuing service for face masks

https://ift.tt/eA8V8J Hong Kong-based mobile ticketing app The Gulu has gained widespread exposure after providing a remote queuing system for retailers selling surgical masks that allowed users to avoid lining up for hours amid the citywide shortage resulting from the Covid-19 outbreak.While the mobile app was first conceived to help restaurants avoid long queues during lunch […]

E-commerce, live-streaming help drive recovery in China’s retail scene amid coronavirus slump

https://ift.tt/eA8V8J Online sales of physical goods surged 36.3 per cent year-on-year during the Labour Day holiday in China, helping to drive the recovery of the country’s retail scene which has been suffering from the impact of the coronavirus pandemic, China’s Ministry of Commerce said at a briefing on Friday.“The epidemic has given rise to increasing […]

Online push helps Shanghai shopping festival pull in US$2.2 billion of sales in first 24 hours

https://ift.tt/eA8V8J Shanghai’s two-month Double Five shopping festival got off to a strong start on Monday evening, with online and offline sales exceeding 15.6 billion yuan (US$2.2 billion) in its first 24 hours, local media outlets reported.Combined sales from the city’s online and offline channels soared to 2.3 billion yuan within the first four hours after […]

Amazon engineer quits, forfeits US$1 million salary to protest firings at world’s largest online retailer

https://ift.tt/eA8V8J A senior Amazon.com engineer has resigned in solidarity with fired corporate and warehouse workers who protested working conditions at the company, the world’s largest online retailer and cloud services provider.Tim Bray, a vice-president and veteran engineer with the company’s cloud computing division, said in a post on his personal blog that he quit “in […]

Singaporean parcel delivery firm Ninja Van raises US$279 million after coronavirus e-commerce surge

https://ift.tt/eA8V8J Singapore’s Ninja Van has raised US$279 million from investors including France’s GeoPost and ride-hailing giant Grab Holdings, one of the few start-ups to score new funding since Covid-19 chilled deal activity.Facebook co-founder Eduardo Saverin’s B Capital Group and Monk’s Hill Ventures joined Grab in the parcel delivery firm’s Series D round, completed after the […]

Cash-strapped governments see revenue in US$26 trillion online industry amid pandemic

https://ift.tt/eA8V8J When Indonesia looked for new ways to fund government spending on coronavirus relief last month, the world’s fourth most-populous nation homed in on a driver of the economy that was still healthy: the internet.“We decided to tax digital companies with an electronic transaction tax because their sales have soared amid the Covid-19 outbreak,” Finance […]

Hong Kong retailers turn to staff-run online shops to boost sales hit by protests, Covid-19 pandemic

https://ift.tt/eA8V8J Hong Kong retailers, hit hard by the coronavirus pandemic and last year’s social unrest, are turning to platforms that allow their sales people to set up their own online shops to rescue their business.This nascent model of online commerce allows sales staff from a particular vendor to individually set up their own online stores […]

Why Covid-19 will be an extinction event for many incumbent companies

https://ift.tt/eA8V8J One of the most striking features of the global business response to Covid-19 has been the resulting rapid adoption of new-breed digital services, such as Zoom and Slack, by born-analogue incumbent businesses.Born-digital businesses, built on cloud services, mobile e-commerce, machine learning and agile methods, have long taken such services and capabilities for granted.Today’s start-ups […]

Amazon says it risks loss on spending rise for pandemic

https://ift.tt/eA8V8J Amazon.com chief executive Jeff Bezos normally uses the company’s earnings report to extol the virtues of smart assistant Alexa or the benefits of paid subscription service Prime. On Thursday, he told investors to hold on tight as his company navigates “the hardest time we’ve ever faced”.The largest US online retailer saw profit shrink and […]

Travel bookings surge up to 1,500 per cent on some sites after Beijing downgrades emergency alert level

https://ift.tt/eA8V8J Within an hour of Beijing downgrading its emergency response level, relaxing quarantine requirements for some arrivals to the Chinese capital city, travel bookings on some sites surged up to 15 times.Thirty minutes after the announcement on Wednesday, bookings for outbound flights from Beijing were 15 times higher than before the announcement on Qunar, one […]

JD.com, US firm Cloudflare join forces to challenge Alibaba in China’s vast cloud market

https://ift.tt/eA8V8J Long-standing competition between e-commerce giants Alibaba Group Holding and JD.com is set to intensify across the broader enterprise sector, as both companies ratchet up initiatives in China’s fast-growing cloud computing services market.JD.com fired a major salvo at its main Chinese online retail rival this week, with the announcement of a partnership between US content-delivery-network […]

Mukesh Ambani, Asia’s richest man, tests WhatsApp-backed online store in locked down India

https://ift.tt/eA8V8J Reliance Industries started testing its online shopping portal days after Facebook said it would invest US$5.7 billion in digital assets controlled by the company’s billionaire chairman, Mukesh Ambani.JioMart, an e-commerce venture of Reliance Retail, is serving users in three neighbourhoods surrounding Mumbai, according to the JioMartLite website. The shopping app is available via Facebook’s […]

China’s mobile traffic up 40 per cent in March as information consumption surges amid coronavirus pandemic

https://ift.tt/eA8V8J China’s information consumption level received a huge boost last month as millions of residents, confined to their homes during the coronavirus pandemic, turned to digital methods to work and satisfy their everyday needs.The country’s mobile data traffic volume jumped 39.3 per cent from the same period a year ago, Li Ying, a senior official […]

Inside China Tech: Huawei founder Ren Zhengfei’s biggest wish

https://ift.tt/eA8V8J Hello, This is Bien Perez from the South China Morning Post’s Technology desk, with a wrap of our leading stories this week.In April of 2016, Huawei Technologies founder Ren Zhengfei became an internet sensation in China after a photograph of him waiting in line for a taxi outside Shanghai’s Hongqiao International Airport went viral.The nation’s social […]

Coronavirus: Live-streaming sales prove a lifeline for China’s small retailers as pandemic disrupts business models and consumer behaviour

https://ift.tt/eA8V8J Zhang Jiacheng, a farmer in one of China’s poorest counties, is wandering around his orchard on a desolate mountainside cutting flowers from the apple trees.As he wields his secateurs he looks towards a tripod-mounted camera trained on what he’s doing as he explains to a live online audience what makes his apples so tasty.“You […]

Alibaba Cloud rolls out US$30 million programme to help global small and medium enterprises amid Covid-19 pandemic

https://ift.tt/eA8V8J Alibaba Cloud, the data intelligence backbone of Chinese e-commerce giant Alibaba Group, has launched a US$30 million programme to provide cloud technology relief to small and medium enterprises (SMEs) as the global economy takes a huge hit from the coronavirus pandemic.A support package of 12 key products will be open for application between Thursday […]

Facebook seals biggest deal since WhatsApp with Asia’s richest man, Mukesh Ambani

https://ift.tt/eA8V8J Facebook will invest US$5.7 billion in the digital assets controlled by Asia’s richest man, Mukesh Ambani, marking the social networking giant’s biggest deal since its 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market.Menlo Park, California-based Facebook will buy about 10 per cent of Jio Platforms, becoming the […]

Pinduoduo doubles down on rural China, with five-year, US$7.1 billion e-commerce campaign

https://ift.tt/eA8V8J Social e-commerce giant Pinduoduo is investing at least 50 billion yuan (US$7.1 billion) over the next five years to initiate online retail programmes in China’s rural areas, helping create a “new infrastructure” to boost nationwide demand for agricultural products.Shanghai-based Pinduoduo, the country’s No 3 e-commerce services provider by gross merchandise volume, plans to help […]

Pinduoduo invests US$200 million in electronics retailer Gome as Covid-19 forces sector consolidation

https://ift.tt/eA8V8J Chinese e-commerce platform Pinduoduo has invested US$200 million in Chinese electronics retailer Gome through convertible bonds as part of a plan to integrate Gome’s entire product range, logistics, and customer service onto Pinduoduo’s platform as the Covid-19 pandemic continues to shake up the global retail industry.Pinduoduo announced on Sunday that it would subscribe to […]

Chinese e-commerce giant JD.com teams up with US firm Blue Yonder on AI supply chain transformation

https://ift.tt/eA8V8J The logistics arm of Chinese e-commerce giant JD.com has teamed up with a US artificial intelligence (AI) developer to ramp up efficiency for merchants in China, amid the Covid-19 pandemic which has hit the country’s manufacturing sector hard.Under JD Logistics’s partnership with Arizona-based digital solution provider Blue Yonder, both parties will work together to […]

Former JPMorgan banker set to launch virtual insurance start-up with focus on medical coverage for pets

https://ift.tt/eA8V8J A former JPMorgan Chase banker is about to kick-start his new business venture of selling online medical insurance coverage with a focus on pets, after winning an operating licence on Wednesday as innovation in Hong Kong financial markets gains traction.OneDegree, founded in 2016 by Alvin Kwock Yin-lun and industry veteran Alex Leung Te-yuan, became […]

China’s car dealers embraced live streaming to connect with consumers during coronavirus lockdown

https://ift.tt/eA8V8J With their showrooms closed during the coronavirus lockdown last month, China’s car dealers embraced live streaming as a way to keep the conversation going with potential consumers who were also stuck at home.The number of live-streaming sessions involving the auto industry jumped 15-fold in March compared to January, and total numbers of participants was […]

Amazon stops accepting new online grocery customers amid surging demand during coronavirus outbreak

https://ift.tt/eA8V8J Amazon said it will begin to put new grocery delivery customers on a waiting list and curtail shopping hours at some Whole Foods stores to prioritise orders from existing customers buying food online during the coronavirus outbreak.Many shoppers recently seeking to purchase groceries from the Seattle-based e-commerce company found they could not place orders […]

Meituan refutes claims its delivery fees are hurting restaurants amid coronavirus downturn

https://ift.tt/eA8V8J China’s top delivery app Meituan Dianping has pushed back on claims that it is charging higher commission fees and enforcing exclusivity clauses at a time when restaurants across China are struggling to survive amid the impact of the coronavirus pandemic.Last week, the Guangdong Restaurant Association published an open letter to Meituan, urging the Chinese […]

Alibaba, JD.com, Pinduoduo help revive sales of farm goods from Hubei after coronavirus lockdown

https://ift.tt/eA8V8J China’s biggest e-commerce services providers, Alibaba Group Holding, JD.com and Pinduoduo, are pushing separate initiatives to help revive sales of farm goods from Hubei, as the province hardest hit by the coronavirus crisis emerges from its months-long lockdown.“Hubei has made great sacrifices and contributions to the fight against the epidemic nationwide,” said Hou Yi, […]

Alibaba’s Lazada briefly stops new grocery orders in Singapore

https://ift.tt/eA8V8J Singapore’s government urged residents to consider ordering their groceries online rather than going to the shops. That just became tougher.Alibaba Group Holding’s Lazada Group, Southeast Asia’s leading e-commerce services provider, is temporarily suspending new grocery orders in Singapore after strict physical distancing measures and rising coronavirus cases triggered a surge in orders. Alibaba is […]

China’s mobile payments to see rebound as offline vendors reopen after coronavirus lockdowns

https://ift.tt/eA8V8J Home quarantine policies to curb the spread of Covid-19 in China have been a boon for most digital services, including remote work apps, e-learning and mobile gaming, but one online technology has not fared so well: mobile payments.The problem started during Chinese Lunar New Year holiday in January, when most Chinese stayed at home […]

Pinduoduo raises US$1.1 billion in private placement to fund new services such as live-streaming

https://ift.tt/eA8V8J Chinese e-commerce platform Pinduoduo has raised US$1.1 billion in a private share placement that could fund its expansion despite current market volatility, the company announced on Tuesday.The transaction for the newly issued Class A ordinary shares, which represent about 2.8 per cent of the company’s total outstanding shares, is expected to be closed with […]

Local governments in China issue free digital coupons to stimulate consumption amid coronavirus pandemic

https://ift.tt/eA8V8J Local governments in China are distributing free digital coupons on mobile payment platforms like Alipay and WeChat Pay to help stimulate domestic consumption as the coronavirus pandemic hammers the world’s second-largest economy.On Sunday, Jiaxing city in Zhengjiang province, announced that it would issue 200 million yuan (US$28.2 million) worth of digital consumer coupons to […]

Pinduoduo to help New York’s Met Museum and others turn to live streaming and online gift sales

https://ift.tt/eA8V8J As the coronavirus pandemic continues to ricochet around the world, closing cities and slamming entire sectors of the economy, museums are turning to live streaming in an effort reach the public and avoid catastrophic losses.China’s third-largest e-commerce player Pinduoduo said it is working with New York’s Metropolitan Museum of Art and six other Chinese […]

Pinduoduo to help New York’s Met Museum and others turn to live streaming and online gift sales

https://ift.tt/eA8V8J As the coronavirus pandemic continues to ricochet around the world, closing cities and slamming entire sectors of the economy, museums are turning to live streaming in an effort reach the public and avoid catastrophic losses.China’s third-largest e-commerce player Pinduoduo said it is working with New York’s Metropolitan Museum of Art and six other Chinese […]

China’s mental health counsellors reach out online to help those affected by coronavirus pandemic

https://ift.tt/eA8V8J Three days after Chinese authorities ordered the Wuhan lockdown in late January, Shanghai-based psychological adviser KnowYourself made its online consultation service free for Covid-19 patients, medical workers and people suffering mental problems amid the unfolding health crisis.The company brought together a team of over 100 professionals and trained volunteers to scan messages sent in […]

Alibaba’s Taobao launches platform to help factories digitalise their operations in China

https://ift.tt/eA8V8J Taobao, the e-commerce marketplace owned by Alibaba Group Holding, has launched a new initiative to help drive the digital transformation of traditional factories in China using its consumer-to-manufacturer (C2M) system.The platform will enable companies to better manage raw materials and product inventories based on precise consumer distribution, preferences and behavioural data, Taobao said in […]

Life and work will never be the same in China as the country attempts a post-virus tech restart

https://ift.tt/eA8V8J With the coronavirus outbreak crippling normal life in China, technology has rushed to the fore on many fronts as literally a lifesaver: robots in hospitals, health code apps, online education and remote working all played crucial roles in keeping the country operational with most of the population trapped in self-isolation.But as the devastating outbreak […]

Online game players were top target for scammers during China’s coronavirus lockdown

https://ift.tt/eA8V8J China’s gamers were the largest group of victims amid a spike in internet scams during the country’s coronavirus outbreak as millions of quarantined people turned to online games to alleviate boredom.Liewang Platform, a website where Chinese internet users can report online fraud cases, found that scammers were out in force during the outbreak, which […]

JD Logistics to hire 20,000 more delivery and warehouse workers, giving priority to those below poverty line

https://ift.tt/eA8V8J The logistics unit of Chinese e-commerce giant JD.com is looking to hire over 20,000 new warehouse and delivery workers to meet surging online demand amid a growing pool of people looking for work after losing jobs during the coronavirus crisis.The company said it would give priority to applicants who fall under the country’s poverty […]

JD Logistics to hire 20,000 more delivery and warehouse workers, giving priority to those below poverty line

https://ift.tt/eA8V8J The logistics unit of Chinese e-commerce giant JD.com is looking to hire over 20,000 new warehouse and delivery workers to meet surging online demand amid a growing pool of people looking for work after losing jobs during the coronavirus crisis.The company said it would give priority to applicants who fall under the country’s poverty […]

Back in business, China’s online travel sites Qunar, Ctrip expect a surge in domestic tourism amid global shutdown

https://ift.tt/eA8V8J Qunar and Ctrip, two of China’s biggest online travel service providers, have resumed bookings for travel packages and attraction tickets after a two-month hiatus as the country recorded its lowest number of deaths since the outbreak and no new infections for the second day in a row.Customers can now book presale travel packages for […]

Back in business, China’s online travel sites Qunar, Ctrip expect a surge in domestic tourism amid global shutdown

https://ift.tt/eA8V8J Qunar and Ctrip, two of China’s biggest online travel service providers, have resumed bookings for travel packages and attraction tickets after a two-month hiatus as the country recorded its lowest number of deaths since the outbreak and no new infections for the second day in a row.Customers can now book presale travel packages for […]

Art Basel launches online viewing rooms after cancelling Hong Kong show amid coronavirus

https://ift.tt/eA8V8J Art Basel, the world’s largest art fair, will open an online exhibition Friday night to make up for the cancellation of its Hong Kong show due to the novel coronavirus outbreak.More than 90 per cent of exhibitors from the scrapped Art Basel Hong Kong event have joined the move online, with over half of […]

Amazon halts grocery orders to restock amid surging demand due to coronavirus worries

https://ift.tt/eA8V8J Amazon said on Thursday it has halted its Prime Pantry delivery service in the United States to restock groceries, following a surge in online orders by shoppers worried about the coronavirus pandemic.“Amazon Pantry is not accepting new orders at this time while we work to fulfil open orders and restock items following increased demand,” […]

For Singapore’s Shopee, being ‘late’ to the e-commerce game has helped its rise in Southeast Asia

https://ift.tt/eA8V8J For an e-commerce platform under four years old, Shopee has done pretty well for itself.Since it was established in 2015, the Singaporean e-commerce site has become the most visited across Southeast Asia, according to a recent iPrice report which also found that Shopee’s mobile app ranked at the top of its category in terms […]

These four groups of Chinese shoppers will drive online consumption in 2020

https://ift.tt/eA8V8J With a population of 1.4 billion and its status as the world’s No 2 economy, China remains one of the biggest consumer markets in the world. Thanks to widespread mobile and online payments as well as a high smartphone penetration rate, e-commerce is also a popular way of shopping in China.However, amid slowing growth […]

China’s Meituan Dianping vows improvements after delivery man kills retail worker in Wuhan

https://ift.tt/eA8V8J China’s largest on-demand services provider Meituan Dianping said it will take responsibility and “try its best to improve” after one of its delivery men stabbed a retail worker to death on the weekend, prompting debate on social media over the pressures faced by such workers in the country’s hyper-competitive delivery sector.In a statement issued […]

Chinese e-commerce giant JD.com’s logistics unit planning potential overseas IPO that could raise US$8-10 billion: sources

https://ift.tt/eA8V8J The logistics unit of Chinese e-commerce company JD.com has held early discussions with banks about a potential overseas IPO that could raise US$8 billion to US$10 billion, two people with direct knowledge of the matter told Reuters.JD Logistics is targeting a valuation of at least US$30 billion, according to the people, who declined to […]

Chinese e-commerce giant JD.com’s logistics unit planning potential overseas IPO that could raise US$8-10 billion: sources

https://ift.tt/eA8V8J The logistics unit of Chinese e-commerce company JD.com has held early discussions with banks about a potential overseas IPO that could raise US$8 billion to US$10 billion, two people with direct knowledge of the matter told Reuters.JD Logistics is targeting a valuation of at least US$30 billion, according to the people, who declined to […]

Chinese e-commerce giant JD.com’s logistics unit planning potential overseas IPO that could raise US$8-10 billion: sources

https://ift.tt/eA8V8J The logistics unit of Chinese e-commerce company JD.com has held early discussions with banks about a potential overseas IPO that could raise US$8 billion to US$10 billion, two people with direct knowledge of the matter told Reuters.JD Logistics is targeting a valuation of at least US$30 billion, according to the people, who declined to […]

Chinese fintech company Ant Financial quietly takes stake in Vietnam’s eMonkey amid anti-China sentiment

https://ift.tt/eA8V8J China’s Ant Financial, a fintech affiliate of e-commerce giant Alibaba, has quietly acquired a sizeable stake in a Vietnamese e-wallet eMonkey, people familiar with the matter said.The move, negotiated over the summer, is not being announced due to concerns that anti-China sentiment in Vietnam could result in possible pushback, three people with knowledge of […]

Restaurant chain Li Bao Ge joins forces with Freshippo to tap mainland China’s vast online food delivery market as Hong Kong profits tumble amid protests

https://ift.tt/eA8V8J Cantonese restaurants operator Li Bao Ge Group will step into China’s vast food delivery market by working with Alibaba’s online-to-offline grocery retail platform, Freshippo, in order to boost revenue that has been severely dented by the social unrest in Hong Kong.Li Bao Ge entered an agreement with Freshippo to set up more than 10 […]

Singapore’s YouTrip wants to eliminate pesky foreign transaction fees for Southeast Asian travellers

https://ift.tt/eA8V8J As an ex-McKinsey consultant and a frequent business traveller, Hongkonger Caecilia Chu was all too familiar with having to fork out foreign transaction fees on her credit card. Calculated over time, the amount could range from hundreds to even thousands of dollars.Eager to find a solution that would eliminate such fees, Chu decided to […]

Chinese e-commerce platform Xiaohongshu to jump on ‘shoppertainment’ trend with live-streaming

https://ift.tt/eA8V8J Chinese social commerce platform Xiaohongshu will launch live-streaming features early next year, the latest in a stream of e-commerce sites that have implemented the feature as a way to better engage with consumers.The launch, which was announced at its recent Creators’ Day conference, comes as other prominent e-commerce platforms such as Alibaba, JD.com and […]

Pet food, air fryers and face massagers: what US and Chinese shoppers bought on Black Friday and Singles’ Day

https://ift.tt/eA8V8J The year-end period is an eventful one for shoppers in two of the largest consumer markets in the world.In China, consumers snap up billions of dollars of purchases on Alibaba’s Singles’ Day festival every year, feeding a seemingly insatiable appetite for online shopping. They spent a record-breaking US$38.4 billion on Singles’ Day, November 11, […]

US Black Friday shoppers spend record US$7.4 billion online – and Cyber Monday could be bigger

https://ift.tt/eA8V8J Shoppers across the United States splashed out US$7.4 billion online during the Black Friday post-Thanksgiving buying bonanza, according to Adobe Analytics, hurting traffic and sales at bricks-and-mortar stores.The spending marks an all-time record for Black Friday online purchases in the US. It also makes it the second-largest online sales day ever in the country, […]

A foreigner’s life in Beijing without access to Alipay or Wechat Pay is like a fish out of water. Here’s my experience

https://ift.tt/eA8V8J “You might not have to make that trip to the bank after all,” Rob, a friend, messaged me over WeChat the other day. He attached a press release saying Alipay had launched an international version of its mobile payments platform for visitors to China.Named “Tour Pass”, the app can be used for up to […]

Alibaba’s digital infrastructure to help partners transform their businesses, says CEO Daniel Zhang

https://ift.tt/eA8V8J After a successful listing in Hong Kong this week, Alibaba Group Holding chief executive Daniel Zhang Yong said he remains focused on the long term and empowering people through technology.“Today, because of digital technology, we are able to enable people and our merchants to do business in a digital way. We are able to […]

Alibaba’s digital infrastructure to help partners transform their businesses, says CEO Daniel Zhang

https://ift.tt/eA8V8J After a successful listing in Hong Kong this week, Alibaba Group Holding chief executive Daniel Zhang Yong said he remains focused on the long term and empowering people through technology.“Today, because of digital technology, we are able to enable people and our merchants to do business in a digital way. We are able to […]

Alibaba’s digital infrastructure to help partners transform their businesses, says CEO Daniel Zhang

https://ift.tt/eA8V8J After a successful listing in Hong Kong this week, Alibaba Group Holding chief executive Daniel Zhang Yong said he remains focused on the long term and empowering people through technology.“Today, because of digital technology, we are able to enable people and our merchants to do business in a digital way. We are able to […]

With foothold in Hong Kong’s stock market, Alibaba sets itself lifespan goal of 102 years

https://ift.tt/eA8V8J Alibaba Group Holding, returning to Hong Kong’s stock market this week after a five-year wait, considers the city a cornerstone of its strategy to globalise and prosper across three centuries, said its chairman. This week’s successful US$13 billion initial public offering (IPO), the world’s largest fundraising of 2019, will swell Alibaba’s cash equivalent to […]

Alibaba’s Hong Kong shares get fast entry into Hang Seng Composite Index in boon for city’s stock market trading indicator

https://ift.tt/eA8V8J Alibaba Group Holding’s shares will be admitted into a broad version of Hong Kong’s benchmark stock index on December 9, less than two weeks after raising U$13 billion on the city’s bourse in the world’s largest initial public offering.Alibaba’s Hong Kong shares, trading under the stock code 9988, qualify for the fast entry rule […]

Amazon to open store on Chinese e-commerce platform Pinduoduo in time for Black Friday: sources

https://ift.tt/eA8V8J Amazon, the world’s largest online retailer, is set to open a store on Chinese e-commerce platform Pinduoduo after withdrawing its own Chinese domestic marketplace business in July, sources told the Post.The online retail giant will announce its Black Friday sales on Shanghai-based Pinduoduo on Monday and its store on the site will carry goods […]

Amazon to open store on Chinese e-commerce platform Pinduoduo in time for Black Friday: sources

https://ift.tt/eA8V8J Amazon, the world’s largest online retailer, is set to open a store on Chinese e-commerce platform Pinduoduo after withdrawing its own Chinese domestic marketplace business in July, sources told the Post.The online retail giant will announce its Black Friday sales on Shanghai-based Pinduoduo on Monday and its store on the site will carry goods […]

Amazon to open store on Chinese e-commerce platform Pinduoduo in time for Black Friday: sources

https://ift.tt/eA8V8J Amazon, the world’s largest online retailer, is set to open a store on Chinese e-commerce platform Pinduoduo after withdrawing its own Chinese domestic marketplace business in July, sources told the Post.The online retail giant will announce its Black Friday sales on Shanghai-based Pinduoduo on Monday and its store on the site will carry goods […]

Meituan Dianping quarterly revenue beats estimates on expansion beyond food, travel

https://ift.tt/eA8V8J Meituan Dianping’s third-quarter revenue beat expectations after the company, which operates China’s largest e-commerce platform for services, deepened forays into areas beyond its core food delivery and online travel agency businesses.Sales increased 44 per cent to 27.5 billion yuan (US$3.9 billion) in the three months ended September 30, compared with the 26 billion yuan […]

Meituan Dianping quarterly revenue beats estimates on expansion beyond food, travel

https://ift.tt/eA8V8J Meituan Dianping’s third-quarter revenue beat expectations after the company, which operates China’s largest e-commerce platform for services, deepened forays into areas beyond its core food delivery and online travel agency businesses.Sales increased 44 per cent to 27.5 billion yuan (US$3.9 billion) in the three months ended September 30, compared with the 26 billion yuan […]

Meituan Dianping quarterly revenue beats estimates on expansion beyond food, travel

https://ift.tt/eA8V8J Meituan Dianping’s third-quarter revenue beat expectations after the company, which operates China’s largest e-commerce platform for services, deepened forays into areas beyond its core food delivery and online travel agency businesses.Sales increased 44 per cent to 27.5 billion yuan (US$3.9 billion) in the three months ended September 30, compared with the 26 billion yuan […]

Amazon is planning to open supermarkets with no cashiers next year, expanding its push into groceries

https://ift.tt/eA8V8J Amazon.com is preparing to open Amazon Go supermarkets and pop-up stores, an expansion of the company’s cashierless ambitions that includes the possibility of licensing the technology to other retailers.The new store formats and licensing initiative could launch as soon as the first quarter of 2020, according to a person familiar with the project. Amazon is […]

How Alibaba powered billions of transactions on Singles’ Day with ‘zero downtime’

https://ift.tt/eA8V8J In just the first 68 seconds of November 11, shoppers spent US$1 billion on Alibaba’s e-commerce marketplaces, scooping up everything from consumer electronics to luxury items and even cars.By the end of the annual 24-hour Singles’ Day shopping extravaganza, the Chinese tech giant reported a record-shattering 268.4 billion yuan (US$38.4 billion) of sales.All of […]

Alibaba may price Hong Kong stock offering at HK$176 each after marketing process in world’s biggest IPO this year

https://ift.tt/eA8V8J Alibaba Group Holding will offer the investors of its Hong Kong shares a slight discount to its US-listed depositary shares, as Asia’s most valuable company prepares to kick off the world’s largest initial public offering this year.The Hangzhou-based company may price its secondary stock offering in Hong Kong at HK$176 each based on guidance […]

China’s bricks-and-mortar stores stress the shopping experience, rev up with technology to survive the onslaught of online shopping

https://ift.tt/eA8V8J For 90 minutes on a Sunday evening, Tracy Ma and her two girl friends experimented a combination of lipsticks, eyeshadows, eyeliners and blushes in a MAC Cosmetics store along Shanghai’s prime shopping belt. The two-storey outlet is fitted with an augmented reality counter, allowing walk-in customers like the 20-year old office clerk to simulate […]

Alibaba to sell shares at no more than HK$188 per share in its Hong Kong secondary listing, bankers say

https://ift.tt/eA8V8J Alibaba Group Holding will offer its shares at no more than HK$188 (US$24) each, a day before its secondary listing to raise up to US$13.86 billion kicks off for retail investors in Hong Kong, according to bankers and sources familiar with the plan. The international tranche of the global offering of 500 million shares […]

Alibaba’s Hong Kong secondary listing gives Asia’s Taobao users a chance to own stakes in China’s biggest technology champion

https://ift.tt/eA8V8J Five years ago, Alibaba Group Holding chose New York over Hong Kong in what would be the world’s biggest initial public offering ever – worth a whooping US$25 billion.The listing on the New York Stock Exchange made the Chinese technology and e-commerce giant a globally recognised name – American pop star Taylor Swift performed […]

Banks, investors hoard cash in anticipation of Alibaba’s ‘giant IPO’, push up interbank lending rate

https://ift.tt/eA8V8J A gauge of Hong Kong’s bank funding costs spiked to its highest level in more than a month this week, as investors and financial institutions stashed away cash in anticipation of a massive secondary listing by Alibaba Group Holding in the city.Alibaba, the parent company of the South China Morning Post, won approval this […]

Alibaba’s Ant Financial testing enterprise blockchain network targeting small businesses

https://ift.tt/eA8V8J Alipay operator Ant Financial Services is aiming to launch a new enterprise blockchain network, the Ant Blockchain Open Community, in the next three months.Speaking at the World Blockchain Summit at Wuzhen in Southeastern China last Friday, Ant Financial’s executive director of technology and business innovation Li Jieli said that the alliance aimed to support […]

Alibaba gets the nod to sell shares in Hong Kong, in a secondary listing that catapults city back to the top of world’s IPO ranking

https://ift.tt/eA8V8J The listing committee of the Hong Kong stock exchange has approved the application by Alibaba Group Holding, the record holder of the largest global initial public offering, to sell up to HK$117 billion (US$15 billion) of new shares in a secondary listing that would return the city as the world’s fundraising capital for the […]