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Tech

Ant Group’s blockchain arm Zan wants to be the Google or Microsoft of Web3 in Hong Kong

Ant Digital Technologies, a subsidiary of the Chinese fintech giant Ant Group, wants its new Hong Kong blockchain venture Zan…

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New Business

JD.com lures overseas Chinese shoppers with faster shipping in rivalry with Alibaba

JD.com is launching five-day international shipments for customers in the US, Japan and Singapore, as the Chinese e-commerce giant fights…

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Tech

Temu owner PDD’s stock rout reflects ‘shaken investor confidence’, analysts say

A 28.5 per cent stock price plunge on Monday that wiped US$55 billion off the valuation of PDD Holdings, the…

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Tech

Walmart said to raise US$3.6 billion from sale of JD.com stake, ending 8-year partnership

JD.com’s Hong Kong-listed shares fell 10 per cent to HK$101.10 at 2.23pm local time on Wednesday, leading a broader sell-off…

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Tech

AI demand returns Alibaba Cloud to company growth engine as e-commerce slows

AI investment has boosted the company’s revenue in search and recommendation scenarios, Chen said, and helped increase the frequency with…

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New Business

Exclusive | Qiandama’s funder GenBridge sees ‘substitution’ in China’s retail downgrade, tepid growth

“This is what I call the substitution effect,” Chang, founder and managing partner of Beijing-based VC firm GenBridge Capital, told…

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New Business

Meituan launches 30-minute delivery services for home appliances in China in Midea deal

Chinese food delivery giant Meituan has partnered with Midea, one of the world’s largest home appliances makers, to enable app…

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Tech

JD.com profit surges in second quarter after slashing prices, installing trade-in programme

Chinese online shopping giant JD.com reported a 92 per cent year-on-year jump in quarterly net income to 12.6 billion yuan…

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New Business

China hits 100 billion deliveries as couriers grow part and parcel with e-commerce

This equates to an average of 71.43 packages per person, 5,144 packages delivered every second, or 440 million packages moving…

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Tech

Chinese sneakerheads’ favourite shopping app Dewu to cut 500 jobs as weak spending persists

Shanghai-based e-commerce app Dewu, a popular option among young Chinese consumers looking for niche brands, will trim its workforce by…

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