GoTo CEO Patrick Walujo says the TikTok-Tokopedia deal would contribute to ‘immediate profit’ for the group.

E-commerce giants Shein and Temu flourish as parcels surpass quarter of a trillion dollars in value annually amid push to tighten de minimis provision.

Meta and Amazon on Thursday blew through expectations in their latest quarterly results as Big Tech continued to impress Wall Street.

Chinese internet firms can look to chase growth through international markets and artificial intelligence in 2024, according to the Swiss bank.

The new feature, which TikTok said is in early testing, encourages users to ‘find similar items on TikTok Shop’ based on what it identifies in videos, but items are not always a perfect match.

The move comes as China has waived visa requirements for travellers from several countries, while Chinese tourists are expected to head abroad during Lunar New Year.

The Shenzhen-based internet giant must find new lifelines in its video gaming and social media operations, Ma told employees at the firm’s annual meeting.

SoftBank expects to book US$8.5 billion, about 425 times the value of its initial Alibaba investment, for its 2024 financial year after divesting more than 500 million shares in the e-commerce giant.

The discount brings the valuation down from US$66 billion during a May 2023 funding round amid tough competition from PDD’s Temu while it also faces political scrutiny in Washington.

Lazada Group CEO James Dong will now also lead Daraz Group and build on the two Alibaba subsidiaries’ ‘extensive collaborations and synergies’.

The e-commerce firm joins more than 60 other tech companies, including Amazon.com and Google parent Alphabet, that have let almost 11,000 employees go so far this year.

Ren Lifeng left ByteDance last year and recently registered Shumei Wanwu with nearly US$140,000 in registered capital.

Alibaba CEO Eddie Wu Yongming in November named Xianyu one of four ‘strategic-level innovation businesses’ to undergo transformation.

Goldman’s decision to upsize its loan facility is a testament to FundPark’s capability and track record, CEO Anson Suen says. The start-up has disbursed US$2 billion to 16,500 SMEs since its founding in 2016.

Chinese state media has called for tighter scrutiny of deceptive pricing tactics in live streaming, as e-commerce players increasingly rely on such campaigns to lure customers and drive sales.

The call to break more digital barriers in China’s internet industry comes days before Tencent’s flagship video game, Honour of Kings, returns to ByteDance-owned Douyin’s live-streaming platform.

A price war in mainland China, the world’s largest smartphone market, has intensified amid widening discounts offered for iPhones by online marketplaces.

US tech giant Apple is offering Chinese consumers discounts of up to US$113 on a range of products, from iPhones to MacBooks, in a move to fend off intensifying local competition.

Alibaba and TikTok played to their strengths at CES, as they catered to a market where it has been increasingly difficult for Chinese companies to operate.

Both years begin on a Monday and are leap years, making their calendars a perfect match. As 1990s nostalgia sweeps China, the vintage items are reminders of era when Beijing welcomed foreign influence in the economy, culture and fashion.

The biggest drags on the MSCI benchmark since the end of September 2023 include Alibaba, Yum China and BYD, which have all been offering big discounts.

Companies from Alibaba to Tencent have been slashing external investments amid an economic slowdown, regulatory headwinds and geopolitical tensions, according to data compiled by a Chinese consultancy.

Tencent has bet on swiftly building its online retail business on the back of the mainland’s vast number of WeChat users, estimated at 1.34 billion.

The online retailer agreed to pay the penalty to resolve a US criminal probe into a campaign by several of its employees to stalk and harass a Massachusetts couple whose online newsletter was viewed as critical of the company.

Octopus says it will open up its payment networks for the first time in 26 years to UnionPay, Alipay and AlipayHK.

With the help of artificial intelligence, merchants on the Taobao and Tmall platforms are expected to improve their services and attract new customers.

The so-called ‘consolidated shipping’ service covers both air and sea transport routes and is designed to cut shipping times and costs.

A routine internal audit at Dada found US$140 million worth of questionable revenue and costs in the firm’s books for the first three quarters of 2023.

Despite their growing popularity, AliExpress and Temu are generally lagging behind the competition in South Korea in terms of fast delivery service and product quality assurance.