Posts tagged ‘Alibaba’

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10/01/2017

Donald Trump has ‘great meeting’ with Alibaba boss Jack Ma – BBC News

US President-elect Donald Trump has held what he said was a “great meeting” in New York with Jack Ma, chairman of the e-commerce site Alibaba.

After the meeting Mr Ma said that both had agreed that US-China relations “should be strengthened, should be more friendly and do better”.

Mr Ma said he would help US businesses create a million new jobs by using his website to sell to China.

During his campaign Mr Trump threatened to place tariffs on Chinese imports.

“Jack and I are going to do some great things,” Mr Trump told reporters gathering in the Trump Tower lobby as the two emerged from the lift together.

What exactly does Alibaba do?

The man behind Alibaba: Jack MaUS vs China – Trump tools upTrump hints ‘One China’ policy could end

Calling the future US president “smart” and “open-minded”, Mr Ma described his company’s plan to attract one million small US businesses to its platform in order to sell goods to Chinese consumers.

The Alibaba Group tweeted about their job-creation plan after the meeting

Company spokesman Bob Christie said that one million new jobs will be created over the next five years as small American businesses hire new employees who will be tasked with interacting with Alibaba.

Mr Ma, who is one of the richest people in China, specifically said that farmers and small clothing makers in the US Midwest should use the Alibaba online marketplace to reach Chinese consumers.

It is estimated that up to 80% of Chinese online purchases are made on the Alibaba platform.

The New York real estate mogul has said that 45% import taxes could be placed on Chinese goods and would come in response to currency manipulation and illegal subsidies by the world’s second largest economy.

He has been highly critical of Chinese trade practices, and has appointed noted China critics to key economic cabinet positions in the White House.

Market researchers fear that punitive tariffs would lead to a retaliatory response from China, triggering a trade war.

Source: Donald Trump has ‘great meeting’ with Alibaba boss Jack Ma – BBC News

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13/08/2016

How Alibaba is Tapping India – The Numbers – WSJ

As its business matures at home, Chinese e-commerce giant Alibaba Group Holding Ltd. is looking to boost growth elsewhere in Asia — especially India, home to a nascent but fast-growing online shopping sector.

Here’s how — and why – it is targeting the world’s second-most-populous nation.

1.2 billion

The number of customers outside of China that Alibaba would like to reach, according to the company’s Chairman Jack Ma.

$127 billion

The projected value of India’s e-commerce market in 2025, up from $11.2 billion last year, according to Goldman Sachs Global Investment Research.

$500 million

The amount of money New Delhi, India-based e-commerce startup Snapdeal.com raised in a fundraising round led by Alibaba last year.

More than $500 million

The amount Alibaba and its affiliate Ant Financial Services Group last year paid for 40% of One97 Communications, the parent company of Noida, India-based online-payment and marketplace startup Paytm.

2 or more

Prominent executives Alibaba has hired in recent months who have experience in India’s e-commerce sector.

Source: How Alibaba is Tapping India – The Numbers – WSJ

Posted in China alert, Chindia Alert, e-tail, Economics, India alert | 1 Comment »

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25/02/2015

China drops leading technology brands for state purchases | Reuters

China has dropped some of the world’s leading technology brands from its approved state purchase lists, while approving thousands more locally made products, in what some say is a response to revelations of widespread Western cybersurveillance.

A Cisco logo is seen at its customer briefing centre in Beijing, November 14, 2013. REUTERS/Kim Kyung-Hoon

Others put the shift down to a protectionist impulse to shield China’s domestic technologyindustry from competition.

Chief casualty is U.S. network equipment maker Cisco Systems Inc (CSCO.O), which in 2012 counted 60 products on the Central Government Procurement Center’s (CGPC) list, but by late 2014 had none, a Reuters analysis of official data shows.

Smartphone and PC maker Apple Inc (AAPL.O) has also been dropped over the period, along with Intel Corp‘s (INTC.O) security software firm McAfee and network and server software firm Citrix Systems (CTXS.O).

The number of products on the list, which covers regular spending by central ministries, jumped by more than 2,000 in two years to just under 5,000, but the increase is almost entirely due to local makers.

The number of approved foreign tech brands fell by a third, while less than half of those with security-related products survived the cull.

An official at the procurement agency said there were many re

via Exclusive: China drops leading technology brands for state purchases | Reuters.

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16/02/2015

Li gives residents keys to ‘new life’|Politics|chinadaily.com.cn

The set of keys that Xiao Wenmei received from Premier Li Keqiang opens up not only her new apartment but her future.

Li gives residents keys to 'new life'

Li visited the newly finished Yu’an community in Guiyang, Guizhou province, and helped distribute keys to the new apartments on Saturday.

“Have you seen your new apartment?” Li asked as he handed keys to Xiao. “It is not only the key to your home but also to your new life.”

He then posted a fu character, a traditional Chinese paper cutting for Spring Festival, at the community’s main office.

“A new community is not only about building new houses but also about people’s new lives, so they can live in a comfortable and safe environment,” he said.

Xiao, 32, was still excited as she recalled the moment she received the keys from the premier. She said her family is busy preparing to move into the new apartment before Chinese New Year’s Eve “as a good start of the year”.

She has lived with her husband and kids in a nearby village, where houses leaked and roads became muddy during rainstorms. The local government invested 3 billion yuan ($481 million) in 2009 to build 8,500 apartments for 5,000 households in Xiao’s community.

Xiao’s family was allotted two apartments, about 300 square meters, as were some other families.

“We’ll move into one apartment and rent the other out,” she said. “A new house is like a big dream for my family.”

The Chinese government has counted heavily on the rebuilding of urban shantytowns to drive domestic demand and improve people’s living conditions.

via Li gives residents keys to ‘new life’|Politics|chinadaily.com.cn.

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14/02/2015

Jack Ma Tells Alibaba Staffers: No Red Packets This Year – China Real Time Report – WSJ

Instead of handing out envelopes of cash to Alibaba’s employees this Lunar New Year, Jack Ma is distributing a huge reality check.

Chinese companies typically hand out red envelopes – known as hongbao – stuffed with money to employees on the eve of the big Lunar New Year holiday, which begins Wednesday. Alibaba Group would seem to be good for a similar reward, given its $25 billion initial public offering bonanza in September.

But in a post on his personal microblog site Friday, Mr. Ma said such rewards are reserved only for exceptional results.

“The reason for not distributing red envelopes is that in the past year, Alibaba Group has not had exceptional results and not had any special surprises,” said Mr. Ma, the company’s founder and executive chairman. “The success of becoming listed should not be a surprise as it was the result of all of Alibaba’s employees’ work over 15 years. But aside from going public, objectively speaking, we haven’t been that satisfied with our results in 2014 that we should distribute red envelopes.

“We must objectively and calmly see our own results, rationally regard external views and not let ourselves be lost in illusory fame,” he said.

Ouch.

via Jack Ma Tells Alibaba Staffers: No Red Packets This Year – China Real Time Report – WSJ.

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05/02/2015

Why Oil-Hungry China Isn’t Reaping Benefits From Low Prices – China Real Time Report – WSJ

China – which gets 60% of its oil from abroad — is on its way to becoming the world’s largest petroleum importer, and is already there by some measures. So in theory it stands to be a huge beneficiary of plummeting oil prices.

However, as The Wall Street Journal reports, the benefits of cheap oil for several major economies are far less clear, as governments from Europe to Japan battle fears that falling prices—in part a result of cheap energy—will deter spending by consumers and new investment by companies.

In China, cheap oil hasn’t been nearly the boon many may have thought. That is the result of several factors.

The government controls prices, meaning the drops for Chinese businesses and consumers lag those of international oil markets. China’s central government has raised fuel taxes, offsetting prices declines. Both factors add up: The government-maximum price in Beijing for basic-quality gas comes out to roughly $3.50 a gallon, once currency conversions and other factors are weighed. Compare that to the U.S., where that same gallon costs about $2.07.

Then there are the structural issues in China’s economy like overcapacity that low prices can’t fix.

“If you look at the lower oil price, it’s true China is a net importer of oil so in theory it should be beneficial,” said Vincent Chan, a research analyst at Credit Suisse CSGN.VX +0.05%. “But at the same time you have other issues like some of the structural issues that are more important in China.”

The bottom line for China: While consumers and some industries have gotten a boost from lower oil prices, the benefits have been pared by the central government’s preference for price stability. Similarly across Asia, governments have used low oil prices to unwind complicated and costly subsidies, which in recent years have kept prices at the pump artificially low for many Asian consumers.

via Why Oil-Hungry China Isn’t Reaping Benefits From Low Prices – China Real Time Report – WSJ.

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05/02/2015

Alibaba’s Ant Financial to buy 25 percent of India’s One97 | Reuters

Ant Financial Services Group, an affiliate of China’s Alibaba Group Holding Ltd (BABA.N), has agreed to buy 25 percent of Indian payment services provider One97 Communications, tapping into the country’s smartphone and online industry boom.


Embed from Getty Images

The companies did not provide the value of the deal, but a person with knowledge of the matter called the investment a precursor to One97 listing on the stock exchange, and said the stake was worth more than $500 million.

The deal values One97 at more than $2 billion, making it one of the most-valuable start ups in the country. One97 runs Paytm, an online platform through which users can shop or pay utility bills, whereas Ant runs Paytm’s Chinese peer Alipay.

Alibaba spokeswoman Teresa Li and One97 founder Vijay Shekhar Sharma declined to disclose the value. Sharma told Reuters that Ant would buy new shares in his company.

Paytm has benefited from the spread of affordable handsets and internet connectivity which has turned India into the fastest-growing smartphone market in the Asia-Pacific region, according to researcher IDC.

via Alibaba’s Ant Financial to buy 25 percent of India’s One97 | Reuters.

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27/01/2015

Taobao cries foul over study’s claim that it sells fake, substandard goods | South China Morning Post

China’s largest online shopping platform Taobao.com has hit back at the results of an official quality survey that accused it of selling fake and substandard goods, saying that the poll’s sampling methods were questionable and its test standards unfair.

Taobao cries foul over study’s claim that it sells fake, substandard goods

More than 60 per cent of products randomly chosen from Taobao failed to meet China’s retail-goods standards, according to a recent survey commissioned by the state commercial regulator and conducted by the China Consumers’ Association.

In an open letter published on Taobao’s Weibo account, the e-commerce giant said the survey selected only 51 products out of the more than 1 billion that it had on sale.

It also said it was unfair of the State Administration of Industry and Commerce to compare the quality of goods sold on Taobao – whose platform comprises millions of e-commerce businesses operated by individual sellers – with those sold by self-operated retailers.

One of China’s major self-operated e-commerce businesses is Taobao’s major rival, Jingdong Mall. It is also the country’s second largest online shopping platform. The survey results showed that 90 per cent of Jingdong Mall’s products met official standards.

About 80 per cent of goods sold on Yihaodian, a Chinese online grocery business controlled by Walmart, met standards.

Taobao’s open letter, titled “Don’t “Don’t make unfair calls, Director Liu Hongliang. You’ve crossed the line”, was penned by an anonymous employee, Taobao said on Weibo.

The letter addressed State Administration for Industry and Commerce director Liu Hongliang, accusing him of making public the survey results without giving the online shop owners a chance to appeal. The move violated China’s regulations on quality surveys, it said.

“Director Liu, is it appropriate to make use of your public power [like this]? It’s easy to ruin [the reputation of] Taobao, but please don’t ruin the spirit of private entrepreneurs simply because [you are angry with] Taobao,” the letter said.

Chinese officials, including Premier Li Keqiang, have over the past year repeatedly voiced support for the country’s burgeoning private enterprises, especially those in the e-commerce sector.

At least 350 million people have shopped online in China, with each spending at least 3,000 yuan (HK$3,770), according to official statistics.

via Taobao cries foul over study’s claim that it sells fake, substandard goods | South China Morning Post.

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27/01/2015

China’s Top 100 Brands: The Private Sector Reigns Supreme – China Real Time Report – WSJ

China’s top brand is no longer a state-owned company, nor is it e-commerce giant Alibaba Group Holding Ltd.BABA +0.85% It’s technology player Tencent Holdings TCEHY +3.45%.

In a ranking of the top 100 most valuable Chinese brands by research from agency Millward Brown and media company WPP, Tencent,  China’s largest online-games and social-networking company, ranked No. 1 with a brand value of $66 billion, ahead of No. 2 Alibaba’s $59 billion. Tencent’s WeChat and QQ messaging services propelled it to the top of the list, said Doreen Wang, global head of Millward Brown’s BrandZ division.

Tencent’s rise unseats state-owned telecom giant China Mobile, which has held the top spot since the ranking’s launch in 2010. It also marks a sea change for China’s private-sector companies, which now account for 47% of the value of the top 100 brands. To calculate rankings, Millward Brown and WPP analyze financial data of listed companies’ brands, pairing it with survey data from more than two million consumers in over 30 countries.

China’s state-owned enterprises have long dominated China’s list of leading companies. In 2010, of the top 50 Chinese brands identified in the report, state-owned companies occupied a third of the list and accounted for an estimated 70-75% of the $280 billion total combined value of the top 50.

Today, it’s a different story. In the past year, the government as has pushed private sector reforms and talked about the need to let market forces play a “more decisive” role in the economy. Alibaba’s public listing last year also contributed to the jump in value for market-driven brands, Millward Brown said, adding that technology brands have also for the first time surpassed financial institutions, becoming the highest valued sector in the rankings, representing 23% of the top 100’s value. Search giant Baidu Inc.BIDU -1.66% ranked No. 5, behind China Mobile and Industrial & Commercial Bank of China Ltd.

Tencent now ranks fifth in the world for global technology leaders’ brand value, according to MIllward Brown. Google Inc. is No. 1 with $158.8 billion, with Apple Inc. holding the No. 2 spot, followed by International Business Machines Corp.and Microsoft Corp.

Yet, even with Alibaba’s record-setting IPO and Tencent’s various successes, Chinese brands haven’t gained global recognition, said Ms. Wang. Only 22% of consumers surveyed outside of China could recognize a Chinese brand in 2014, a slight rise from 20% the year earlier. Chinese brands need to clarify what they stand for and need to ensure that they can satisfy needs beyond the Chinese market for them to gain more recognition, said Ms. Wang. “They need to consider what kind of benefit they bring to global consumers,” she said.

via China’s Top 100 Brands: The Private Sector Reigns Supreme – China Real Time Report – WSJ.

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