Hangzhou Tag

07 Apr Sales spike for China’s pre-owned homes in early 2024 points to property-market recovery later this year, analysts say

Posted at 07:00h in Asia

China’s pre-owned homes market is showing signs of recovery, based on data for the first two months of 2024, amid continued efforts by authorities to ease purchase restrictions to arrest a prolonged nationwide property slump.Sales of second-hand homes in 25 major cities across the country...

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05 Apr Lived-in home deals in Shanghai hit 20-month high in March, but agent says bull run may be ‘short-lived’ amid economic concerns

Posted at 12:48h in Asia

Transactions involving lived-in homes in Shanghai shot up in March as owners offered discounts to bargain hunters, but the outlook for the city’s housing market remains cloudy due to concerns about a bleak mainland Chinese economy.The number of transactions hit a 20-month high, and a...

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05 Apr Chinese firms lag behind US peers in AI development ‘by two years’, Alibaba chairman Joe Tsai says

Posted at 11:30h in Asia

“China is somewhat behind, obviously,” Tsai said, citing how ChatGPT creator OpenAI has leapfrogged the rest of the tech industry in AI innovation, in a podcast interview published on Wednesday with Nicolai Tangen, chief executive of Norges Bank Investment Management – the branch of Norway’s...

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03 Apr Alibaba Group steps up stock buy-back in Hong Kong, New York as e-commerce rivalry, earnings outlook worry investors

Posted at 02:54h in Asia

Alibaba Group Holding, China’s biggest e-commerce platform operator, said it bought back US$4.8 billion worth of its own shares in Hong Kong and New York last quarter, marking the most aggressive buy-back since 2021 as the stock slipped amid concerns about competition and earnings outlook.The...

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28 Mar China’s ‘Princess of Wahaha’ Zong Fuli looks to revive US$2 billion family beverage business after founder’s passing

Posted at 04:33h in Asia

For about two decades, Kelly Zong Fuli operated in the shadows of her father, beverage tycoon Zong Qinghou – once China’s richest man. His death last month is now thrusting the woman known as the “Princess of Wahaha” into the spotlight.It will not be easy...

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27 Mar Alibaba’s logistics unit Cainiao to double year-end bonus for employees, in morale-boosting move after scrapped IPO

Posted at 09:30h in Asia

Hangzhou-based Cainiao will launch an “entrepreneurship incentive plan” that will double the bonus pool allocated for the financial year ending March 31, 2025, according to company chief executive Wan Lin in excerpts from an internal letter seen by the South China Morning Post.That means employees...

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14 Mar Hangzhou, home to Alibaba and Geely, turns market-friendly by scrapping more barriers to revive home sales

Posted at 09:02h in Asia

The local government in Hangzhou, the capital of eastern Zhejiang province, has taken another drastic move to ease home-purchase restrictions in the city, after an effort last year failed to rejuvenate the housing market.The city, home to China’s tech leaders including e-commerce platform operator Alibaba...

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08 Mar China’s Alipay and WeChat Pay ease the way for foreign travellers to make payments in world’s largest cashless society

Posted at 13:00h in Asia

Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40How mobile payments impact people’s lives in ChinaHow mobile payments impact people’s lives...

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25 Feb Zong Qinghou, billionaire founder of Chinese drinks giant Wahaha Group, dies at 79

Posted at 05:33h in Asia

Zong Qinghou, the founder of China’s drinks giant Hangzhou Wahaha Group that bought out its French partner Danone to dominate the local market, has died, according to a company statement. He was 79.The billionaire passed away at 10.30am local time on February 25, the company...

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15 Feb Apple’s Vision Pro raises interest for extended reality technology, spurring broader demand for more affordable headsets, Rokid CEO says

Posted at 09:30h in Asia

The Vision Pro, which Apple first rolled out in the United States earlier this month, will help the whole extended reality (XR) sector grow and generate greater consumer interest, while expanding the development of relevant software and content, according to Rokid founder and chief...

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