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Alibaba Group Generated USD14.3 Billion of GMV on 2015 11.11 Global Shopping Festival

Alibaba Group Holding Limited (NYSE: BABA) today announced that USD14.3 billion (RMB91.2 billion) of gross merchandise volume (“GMV”) was settled through Alipay on Alibaba’s retail marketplaces on November 11, 2015, making the 2015 11.11 Global Shopping Festival the largest shopping day in history. Mobile GMV settled through Alipay accounted for 68.7 percent of total GMV. Total mobile GMV increased by ... Read More »

Baidu, Citic Bank Plan to Set Up Direct Bank

Chinese search company Baidu Inc. and China Citic Bank Corp. are planning to set up a direct bank, which would offer investment products and loans online.  The move marks the Internet company’s latest push to better compete against its rivals in the rapidly growing space for online financial services. China’s Internet companies are competing to offer users online financial services ... Read More »

China:  Exhibit Industry Reforms

China’s State Council move ahead with exhibition reforms China’s State Council has approved the establishment of an inter-ministerial conference for exhibition industry. The working group will have the goal of determining reforms of China’s exhibition industry. The group’s brief is to reinforce the establishment and implementation of the sector’s development strategy, plans, policies and regulations. The group will be chaired ... Read More »

Alibaba Rolls-out Another U.S. Data Centre

Aliyun, the Alibaba Group’s cloud computing arm, announced that they have established their second data centre in Silicon Valley. The new data centre will address the growing demand of cloud computing services on the U.S. West Coast. The data centre has also been designed to manage the increasing sophistication of big data requirements. On the same day that it opened ... Read More »

Alibaba Seeks to Become ‘Gateway to China’ with European Offices

Alibaba will open so-called “embassies” in Italy, France and Germany, with a view to positioning the company as the “gateway to China” for European merchants. Companies ranging from clothing group Zara to luxury brand Burberry have opened stores on Tmall, Alibaba’s eBay-like platform aimed at attracting brand-name sellers. However, Alibaba’s reputation for being unable to fight fakes and counterfeit goods has kept some ... Read More »

Alibaba Breaks Online Shopping Records on China’s Singles’ Day

Buyers clicked on Alibaba’s shopping websites in unprecedented numbers during China’s e-commerce extravaganza of Singles’ Day, ensuring the company breezed past last year’s record sales by lunchtime. As of Tuesday afternoon online sales for China’s biggest e-commerce company punched through last year’s Rmb36.2bn and generated 165m orders, according to data displayed on a massive screen in Alibaba’s central auditorium. Alibaba has turned the ... Read More »

New Online Marketplace Launched to Connect Asian Buyers and Suppliers

Pan Asian Exchange, a new online B2B marketplace in Asia, was launched on September 22. The platform offers business buyers and suppliers customs clearance help, logistics, regulatory and financial service support across seven countries in Asia – the Philippines, Hong Kong, Taiwan, Singapore, Malaysia, China and Macao. The Pan Asian Exchange, or PAE, connects more than 4,000 small and medium-sized ... Read More »

Tencent to Invest Big in Cloud Computing

Tencent Holdings has said that it will invest more than US$1.5 billion over the next five years in its cloud-computing business. This will include construction and operation of data centres in China, Hong Kong and North America, and also to recruit new talent and promote cloud services through marketing campaigns. Tencent operates data centres that house servers and other equipment, ... Read More »

Cainiao and United States Postal Service Sign MoU to Increase Cross-Border Logistics Services

Cainiao, the logistics affiliate of Alibaba Group Holding Limited, and the United States Postal Service (USPS) today signed a Memorandum of Understanding (MoU) to develop new international shipping solutions and enhance the logistics-service experience for both sellers and buyers involved in cross-border e-commerce. Through the MOU, Cainiao and the USPS agreed to work together to speed delivery of merchandise sold ... Read More »

Trade Assurance: Alibaba.com Extends Supplier-vetting Service to Companies Outside of China

Alibaba Group launched a Trade Assurance program, which provides a money-back guarantee for buyers trading on Alibaba’s e-commerce platform. It is now limited to transactions completed via bank transfers and it only covers Chinese suppliers. It will soon also cover purchases made with credit cards and extended to other manufacturers and distributors in other countries. India will be the next ... Read More »

Alibaba’s E-commerce Group T-mall Platform and Germany’s Metro Group in Strategic Partnership

Alibaba Group and the German Metro Group are going to establish a strategic partnership to promote e-commerce in China.  Metro Group will launch its official flagship store exclusively on Alibaba Group’s T-mall Global platform, selling German products to the Chinese consumers. Metro Group currently operates in over 80 wholesale markets in China, under Metro Cash & Carry. The new cross-border e-store ... Read More »

Alibaba Adds a Sports Company – Enters Media and Events Business

Alibaba Group’s expansion into non-e-commerce businesses such as movies and music took another step today as the group announced the establishment of a sports company, aiming to “transform China’s sports industry through Internet-enabled technologies.” The company, named Alibaba Sports Group, will be majority owned by Alibaba Group but has backing from Sina Corp., owner of China’s popular microblogging site Sina ... Read More »

DHgate Launches more Comprehensive Merchant Rating System

DHgate, a leading Chinese e-marketplace, recently upgraded its Merchant Rating System, which allows buyers to have a more complete and comprehensive assessment of product and service quality of the sellers on the platform. The merchant rating system was initiated with a customer survey in September 2014 which was followed-up with a pilot programme in June 2015, and then officially launched ... Read More »

Flipkart, Snapdeal May Check your Identity before Shipping Goods

Online retailers Flipkart and Snapdeal are working with credit bureaus to check identity of customers before shipping goods.  Retailers stress the importance in working with credit bureaus. Identity checking came into play after the e-commerce companies suffered losses of crores of rupees from false mailing addresses and turned away goods.  Apparently this is a lesson learned by banks after getting ... Read More »