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Xiaohongshu will launch live-streaming features early next year, Singapore’s Shopee has become the most visited across Southeast Asia

  • College graduates with tech, live-streaming skills most in-demand in China’s job market, survey says
    by Yujie Xue on July 9, 2020 at 11:30 am

    College graduates who majored in tech-related disciplines and those with live-stream-suited skills became the most in-demand recruits during China’s coronavirus-influenced spring hiring season, even though many of them have reservations about working in the hot area of streaming.Computer engineering and science majors made up 20 of the 30 most-wanted majors for domestic employment this year, according to a report released on Wednesday by Chinese recruiting app operator Boss Zhipin. It also…

  • How apartments, trucks and even rocket launches are now being sold via live streaming in China
    by Jane Zhang on July 3, 2020 at 10:00 pm

    New apartments, insurance, trucks and even a rocket launching service – nearly everything can be bought via live streaming in China these days. Live streaming became a hot trend in the country after the coronavirus pandemic forced traditional enterprises to embrace the new sales channel to reach potential customers who were confined to their homes during lockdowns designed to contain the spread of the virus. The Industrial and Commercial Bank of China (ICBC), one of the country’s largest banks,…

  • JD.com’s fintech arm prepares for IPO in Shanghai’s Star Market
    by Minghe Hu on July 2, 2020 at 12:05 pm

    JD Digits, the financial technology arm of e-commerce giant JD.com, is preparing for its initial public offering (IPO) in Shanghai’s Star Market, joining waves of Chinese firms pursuing fundraising on the Nasdaq-style tech board. Four Chinese investment banks – Guotai Junan Securities, Citic Securities, Minmetals Securities and Huajing Securities – last week signed pre-listing tutoring agreements with JD Digits to support its IPO on the Shanghai Stock Exchange’s Science and Technology…

  • China’s tech tycoons flood Hong Kong with US$20 billion of stock listings
    by Bloomberg on July 2, 2020 at 12:49 am

    China’s technology tycoons are flooding Hong Kong’s stock exchange with US$20 billion worth of new listings, reinforcing the city’s position as a major financial hub in Asia. While the city’s rich are preparing for a worst-case scenario amid a controversial national security law, major mainland billionaires are coming in. The latest to do so: William Ding Lei of NetEase and JD.com’s Richard Liu Qiangdong, whose companies completed secondary listings in Hong Kong last month. They follow Jack Ma,…

  • China’s Pinduoduo appoints Chen Lei as new chief executive
    by Reuters on July 1, 2020 at 1:19 pm

    Social e-commerce giant Pinduoduo on Wednesday appointed Chen Lei, one of its founding members, as the company’s new chief executive, effective immediately. Shanghai-based Pinduoduo said in a statement that former chief executive Colin Huang Zheng will remain as chairman of the board and focus on long-term strategy. Chen, who served as Pinduoduo’s chief technology officer from 2016, is a data scientist by training and a published author on the subject of data mining. Huang said the appointment…

  • China’s tech sector quietly assesses India’s ban on TikTok, 58 other apps
    by Che Pan,Yujie Xue on June 30, 2020 at 11:00 am

    Most of China’s technology sector appeared to take a collective pause on Tuesday to assess India’s decision to ban 59 popular Chinese apps over security concerns, as tensions rise between Asia’s two biggest economies. On Monday, the Ministry of Electronics and Information Technology issued an interim order banning TikTok, WeChat, UC Browser, Baidu Map and dozens of other China-based apps, citing information that these apps “are engaged in activities which are prejudicial to the sovereignty and…

  • Alibaba’s Southeast Asian subsidiary Lazada appoints Li Chun as new chief executive, succeeding Poignant
    by Jane Zhang on June 26, 2020 at 6:36 am

    Lazada, e-commerce giant Alibaba’s Southeast Asian subsidiary, has appointed Li Chun as the group’s new chief executive, succeeding Pierre Poignant, with a remit to accelerate the company’s growth via greater localisation and helping companies make better use of their data. Li, who has served as both president and chief executive of Lazada Indonesia over the past three years, will succeed Poignant – a founding member of Lazada – on July 1. Poignant will become a special assistant to Alibaba’s…

  • Kuaishou to invest 3 billion yuan in Chengdu to build live-streaming e-commerce headquarters
    by Jane Zhang on June 25, 2020 at 9:00 am

    Chinese short video platform operator Kuaishou will invest 3 billion yuan (US$424 million) to build its live-streaming e-commerce headquarters in Chengdu, capital of southwestern China’s Sichuan province, amid live-streaming’s breakthrough success as a key sales channel during the coronavirus health crisis. Located in the Chengdu Hi-tech Industrial Development Zone, Kuaishou wants to build a live-streaming ecosystem in the city with a 5G short video industry base and a short video incubator,…

  • Fosun looks to reap the gains of its early investment in logistics giant Cainiao with a US$1.3 billion stake sale to Alibaba
    by Alison Tudor-Ackroyd on June 24, 2020 at 5:39 am

    Fosun International, one of China’s biggest private sector conglomerates, is set to sell its 6.7 per cent stake in logistics firm Cainiao to Alibaba Group Holding and other investors for around US$1.3 billion, according to a person familiar with the matter. Shanghai-based Fosun, which owns the ClubMed resorts, the French fashion brand Lanvin and the Canadian troupe Cirque do Soleil among other assets, was an early investor in Cainiao with a 500 million yuan (US$70 million) investment in 2013…

  • Alibaba’s logistics arm Cainiao to speed up delivery times to meet boom in online shopping
    by Minghe Hu on June 23, 2020 at 6:00 am

    Cainiao Network Technology, the logistics unit of Chinese internet giant Alibaba Group Holding, announced a three-year initiative to ramp up efficiency so it can deliver packages within 24 hours in China and 72 hours globally. The affiliate of the country’s largest e-commerce player said the company will invest at least 1 billion yuan (US$141 million) in its logistic network to increase chartered flights, build out warehouse facilities and expand partnerships with customs authorities around the…

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