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16 Feb Overseas Chinese tourists boost consumer spending in Year of the Dragon as Alipay transactions increase 7 per cent from 2019

Posted at 10:00h in Asia

The Year of the Dragon may have signalled the return of the overseas Chinese tourist, with preliminary data from popular payment service Alipay showing an increase in transactions this year compared with 2019, the last time international borders were open before the onset of the...

16 Feb Hong Kong stocks rally as some global funds turn bullish on Chinese tech leaders while Kuaishou, Xpeng, Swire gain on index bets

Posted at 03:00h in Asia

Hong Kong stocks rose after reports showed some fund managers have turned upbeat on China’s biggest technology companies as valuations cheapened. Xpeng, JD Logistics and Swire Properties jumped on speculation they will join the benchmark index from next month.The Hang Seng Index advanced for...

11 Feb Year of the Dragon: China’s commemorative coins, notes are multiplying in value on Taobao, JD.com auction platforms

Posted at 02:00h in Asia

As China ushers in the Year of the Dragon, some of the US$450 million of commemorative coins and banknotes issued by the nation’s central bank have found their way into the popular local e-commerce platforms at more than three times their face value.On Alibaba...

10 Feb Generative AI could be smart glasses’ killer app and Hong Kong-founded Brilliant Labs is betting big on the trend

Posted at 23:00h in Asia

Singapore-based smart lenses start-up Brilliant Labs has become the latest company to introduce a pair of smart glasses, as a slew of tech companies, including several in China, try to make wearing glasses “cool”.The company’s new Frame smart glasses, announced on Friday, are imbued with...

01 Feb Ant Group inks strategic partnership with Shanghai to help the city’s AI ambitions

Posted at 11:00h in Asia

Ant Group and the Shanghai municipal government have struck a partnership that would see the two parties deepen their collaboration in fields such as blockchain and artificial intelligence (AI).Under the partnership, Ant Group, the Alibaba Group Holding fintech affiliate, will “actively participate in building [an]...

28 Jan Big Tech firms such as Tencent and Alibaba snap up land on the mainland amid slumping real estate sector

Posted at 03:00h in Asia

Chinese Big Tech firms, including Tencent Holdings and Alibaba Group Holding, have become major buyers of land on the mainland at a time when both the technology and real estate sectors are battling economic and policy headwinds.Social media and video gaming giant Tencent has shelled...

24 Jan Ant Group-backed credit scorer Qiantang closer to licence in China after two-year wait, as PBOC to ‘guide’ application

Posted at 22:00h in Asia

Qiantang Credit Rating, backed by Alibaba Group Holding’s fintech arm Ant Group and Zhejiang Tourism Investment Group, appears to be headed for official approval to begin operations after a wait of more than two years.Pan Gongsheng, the governor of the People’s Bank of China (PBOC),...

Exclusive | Jack Ma, Joe Tsai replace SoftBank as Alibaba’s largest shareholders by scooping up tech giant’s tumbling shares in Hong Kong, New York

24 Jan Exclusive | Jack Ma, Joe Tsai replace SoftBank as Alibaba’s largest shareholders by scooping up tech giant’s tumbling shares in Hong Kong, New York

Posted at 02:25h in Asia

Jack Ma and Joe Tsai, the co-founders of Alibaba Group Holding, have emerged as the two largest shareholders of the e-commerce giant by aggressively scooping up its tumbling shares in New York and Hong Kong.Ma, who retired as Alibaba’s executive chairman in...

23 Jan ByteDance executive leaves to start cross-border e-commerce venture after Shein, Temu success in US

Posted at 10:30h in Asia

A founding member of ByteDance’s flagship Douyin app, the Chinese version of TikTok, has left the tech giant to focus on his own start-up for cross-border e-commerce, as Chinese-backed peers like Shein and Temu gain traction worldwide.The new venture from Ren Lifeng,...

19 Jan Alibaba co-founder Jack Ma praises rural teachers for their educational passion and ‘belief in the future’ in annual address

Posted at 13:00h in Asia

Jack Ma, co-founder of Alibaba Group Holding, has praised the mentality of rural teachers in China and their “belief in the future”, in a message of public support from the increasingly reclusive Chinese billionaire.In a videotaped speech issued by the Jack Ma Foundation on Thursday,...

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