pinduoduo Tag

11 Apr China’s Suzhou city plans supercharged cross-border e-commerce business after Shein and Temu success

Posted at 14:00h in Asia

The hi-tech manufacturing hub of Suzhou has unveiled a plan to double the city’s cross-border e-commerce annually for the next three years, as it looks to tap into the growing influence of Chinese platforms such as Shein and PPD Holdings’ Temu.The municipal government of the...

Read More

27 Mar Chinese social media platform Weibo removes fake images showing a rapidly ageing Tencent founder Pony Ma

Posted at 14:30h in Asia

Chinese social media platform Weibo has deleted a number of accounts publishing and spreading a retouched photo of a grey-haired and wrinkle-faced Pony Ma Huateng, Tencent Holdings’ founder and CEO, in the latest example of efforts to protect the country’s top entrepreneurs from online abuse.“A...

Read More

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...

Read More

26 Mar ByteDance-owned Douyin launches stand-alone shopping app in China, heating up the competition against Alibaba, JD.com, PDD

Posted at 13:30h in Asia

Douyin Mall was launched last week as a downloadable app for Android users in mainland China, the world’s largest smartphone market. An Apple iOS version of the app was not released as of Tuesday.The new app serves “as an extension of the Douyin platform, designed...

Read More

25 Mar PDD’s Colin Huang surpasses Tencent, ByteDance founders as China’s richest tech billionaire after Pinduoduo outgrows e-commerce rivals

Posted at 11:36h in Asia

Colin Huang, the founder of PDD Holdings, has become China’s richest technology entrepreneur after a surge in the value of its US-listed shares, allowing him to surpass the nation’s more illustrious tycoons Pony Ma Huateng of Tencent Holdings and Zhang Yiming of Bytedance.The 44-year-old grew...

Read More

23 Mar Indonesian logistics giant J&T turns first profit in China, making up bulk of its revenue, despite price war

Posted at 10:00h in Asia

Indonesian logistics company J&T Global Express reported its first annual profit in China despite an escalating industry price war in its first earnings report since going public in Hong Kong last October.The company recorded a gross profit of US$58.8 million and adjusted earnings before interest,...

Read More

20 Mar Discount e-commerce giant PDD beats quarterly revenue estimates as Temu shines

Posted at 11:58h in Asia

Discount e-commerce giant PDD Holdings beat estimates for fourth-quarter revenue, driven by robust user growth and sales at its global platform Temu.PDD on Wednesday reported revenue of 88.88 billion yuan (US$12.35 billion) for the three months to December 31, compared with an average analyst estimate...

Read More

05 Mar Alibaba tests generative AI tools for Taobao and Tmall merchants as new tech arms race heats up China’s e-commerce sector

Posted at 13:00h in Asia

The generative AI tools provided by Huiwa, operated by Alibaba subsidiary Hangzhou Lianfan Information Technology, enable merchants to create both text and graphics content. Alibaba owns the South China Morning Post.A merchant, for example, can input a brief description of a product, which prompts the...

Read More

14 Jan China price wars help spark US$157 billion rout in mainland consumer stocks as Alibaba, Yum China and BYD drag the market

Posted at 08:17h in Asia

Gauges of consumer stocks have been the worst performers on the MSCI China Index since the end of September, after the real estate measure. The aggregate market value of companies included in the two consumer indexes has fallen by about US$157 billion since.Consumer stocks...

Read More

11 Jan Alibaba’s Taobao and Tmall Group pushes new AI tools to boost merchants’ service to consumers in first major move after leadership reshuffle

Posted at 03:00h in Asia

The Taobao and Tmall Group (TTG) unveiled the new AI features, which are designed to improve services and attract new customers, at its “sellers’ conference” held on Tuesday in Hangzhou, capital of eastern Zhejiang province and home base of South China Morning Post owner...

Read More