Global e-commerce giant Amazon has announced that it will be shutting down its domestic marketplace in China. Amazon apparently could not compete with local e-commerce rivals and decided that pulling the plug would be an economically wise decision.
Jack Ma’s Alibaba Group, Holding Ltd., has purchased the media assets of the SCMP Group Ltd. for $266 million. Among those assets is the 112-year-old English language newspaper, the South China Morning Post (SCMP).
While most people in the U.S. were honoring the services of veterans on the annual Veterans Day, Chinese people were also enjoying their so-called tradition of “Singles Day” with a shopping extravaganza that has made the online shopping site Alibaba the biggest winner.
As Alibaba prepares to list shares on the New York Stock Exchange on Sept. 19, here are some things you should know about China’s e-commerce giant:
An annual meeting of the Yabuli China Entrepreneurs Forum was recently held in Heilongjiang Province. Phoenix reported that Ma Yun, the CEO of a listed company in China, spoke at the meeting. On the topic of haze in Beijing, he…