Friday, April 26

Tag: Jack Ma

Alibaba’s Jack Ma Warns of ‘Big Trade War’ Between China, US
27Jan By AdityaNo Comments
CHINA

Alibaba’s Jack Ma Warns of ‘Big Trade War’ Between China, US

E-commerce giant Alibaba's founder Jack Ma has warned of a "big trade war" between China and the US under the new Trump Presidency if conflicts were not dealt properly. He said China's economic outlook will be "tougher than expected" due to continued slowdown of Chinese economy and warned. "In the coming three to five years... the economic situation will be even more arduous than everyone had expected," the e-commerce billionaire said at an annual meeting of the General Association of Zhejiang Entrepreneurs. Referring to the slowdown of the Chinese economy to 6.7 percent last year, the slowest in over two decades, he said it was "only natural" that China's rapid growth over the past three decades could not continue, and that the focus should be shifted to the quality of growth such a...
Read More
Alibaba Blames Trump Led US Politics For Its Blacklisting For Fake Goods
23Dec By AnkitaNo Comments
CHINA, News

Alibaba Blames Trump Led US Politics For Its Blacklisting For Fake Goods

China's e-commerce giant Alibaba has rejected US allegations that it sells counterfeit goods, saying the Washington's move to put it back on a blacklist of its "notorious markets" could be influenced by the "current political climate" in America. Questioning the US move, Alibaba Group President Michael Evans said he was "disappointed" by the decision and wondered whether it was "based on actual facts or was influenced by the current political climate." US President-elect Donald Trump had, during his campaign, repeatedly accused Chinese firms of stealing intellectual property. The US has again labeled Alibaba Group Holding Ltd as one of the world's largest destinations for fake goods, a major embarrassment for a Chinese e-commerce giant trying to shake off its reputation as a haven fo...
Read More
US Blacklists Chinese E-commerce Giant Alibaba For Fake Product Selling
22Dec By PriyankaNo Comments
CHINA, USA

US Blacklists Chinese E-commerce Giant Alibaba For Fake Product Selling

Chinese e-commerce giant Alibaba Group is back on the US government's annual list of "notorious markets" that sell pirated goods. The Office of the US Trade Representative said yesterday that Alibaba's on-line marketplace Taobao sells "high levels" of counterfeit goods and is slow to respond when companies complain about the knockoffs. USTR took Alibaba off the blacklist in 2012, but several US trade groups successfully sought to get it reinstated. "There are a lot of victims here," including US companies that lose sales to fakes and consumers who wind up with shoddy goods, said Stephen Lamar, executive vice president at the American Apparel & Footwear Association, which wanted Alibaba back on the list. Alibaba Group President Michael Evans said the company is "disappointed." ...
Read More
Alibaba Rakes Up Record $17.6 Billion on Singles Day Sales
12Nov By AnkitaNo Comments
CHINA, News

Alibaba Rakes Up Record $17.6 Billion on Singles Day Sales

Alibaba Group, the e-commerce giant behind the 24-hour Singles' Day shopping blitz, has raked up a record USD 17.6 billion in the Singles Day online sales, creating a new record in global retail sales for any single day. Consumers spent more than 120 billion yuan (USD 17.6 billion) shopping online on leading e-commerce platform Alibaba in their annual buying spree yesterday, sources with Alibaba Group said today. Online transactions totaled 120.748 billion yuan in the 24 hours that ended as the clocks struck 12PM yesterday, a record amount in global retail for any single day, data provided by Alibaba said. The shopping spree hit a climactic high just nine minutes after midnight on Friday morning, with an average 120,000 transactions handled per second on Alipay, Alibaba's mobile pa...
Read More
$3 Billion Out of $6.25 Billion – The Online Investment From Chinese Investors in India
20Oct By NitishNo Comments
News

$3 Billion Out of $6.25 Billion – The Online Investment From Chinese Investors in India

India has become an "action zone" for Chinese investors like e-commerce giant Alibaba as its market attracted second highest Chinese funding in IT products next to the US, state media reported today. Citing the fast growth of Indias e-commerce website Paytm which provides services to 130 million people in India, a write-up in state-run China Daily said, "India is not just another developing country - it is the worlds fastest-growing economy". "A huge internet population, rapid growth of mobile internet users, political stability, established institutions like judiciary, a thriving start-up ecosystem, renowned IT expertise and the promising market potential... all these factors have made India an attractive, almost irresistible proposition for Chinese investors," the report said. A...
Read More
Jack Ma Appointed as a Adviser of United Nations Trade & Business Group
21Sep By PriyankaNo Comments
CHINA

Jack Ma Appointed as a Adviser of United Nations Trade & Business Group

Jack Ma, founder and executive chairman of e-commerce giant Alibaba, has been named Special Adviser to the United Nations Conference on Trade and Development (UNCTAD) for Youth Entrepreneurship and Small Business. In his new role as UNCTAD Special Adviser, Ma, 52, will champion initiatives to make it easier for young entrepreneurs and small businesses, particularly in developing countries, to participate in global trade, as well as raise awareness about the 2030 Agenda for Sustainable Development. "Ma is an influential and respected pioneer of the internet era, innovator, entrepreneur, and philanthropist," UNCTAD Secretary-General Mukhisa Kituyi said. "He brings a visionary approach to entrepreneurship, a thirst for learning, and a belief in a better world that make him a perfect ...
Read More
Alibaba Expects $900 Billion Transaction Volumes By 2020
14Jun By AdityaNo Comments
CHINA

Alibaba Expects $900 Billion Transaction Volumes By 2020

Chinese e-commerce giant Alibaba Group Holding Ltd said on Tuesday it expects to nearly double its transaction volumes by 2020, signalling it still expects rampant growth as Executive Chairman Jack Ma pledged to intensify a crackdown on fake goods. At an investor conference at its headquarters in Hangzhou, Zhejiang province, Alibaba said it expects to record 6 trillion yuan ($912 billion) in gross merchandise volume (GMV) in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016. Echoing that growth, Ma said Alibaba expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016. Addressing concerns about the company's efforts to remove counterfeit products from its online platforms, Ma said Alibaba will do "anything to stop the fake produ...
Read More
Alibaba’s Ma, Tsai to buy back $500 million in shares
29Feb By reutersNo Comments
News

Alibaba’s Ma, Tsai to buy back $500 million in shares

Alibaba Group Holding Ltd said on Monday Chairman Jack Ma and Vice Chairman Joe Tsai have agreed to buy back a combined $500 million in company shares, part of a $4 billion stock repurchase scheme announced in August. The buyback comes as the e-commerce firm's shares languish at $66.91, more than a dollar off their IPO price of $68, and as it struggles with slowing growth and a gloomy outlook for the Chinese economy. Sina News reported that Ma and Tsai had signed an agreement to use their private funds to repurchase shares worth $500 million. An Alibaba spokesman confirmed the news but declined to give details. In August, Alibaba announced the $4 billion share repurchase programme which would take place over two years and was aimed at offsetting the impact of its share-based compe...
Read More
Decoding: Is Jack Ma the Rupert Murdoch of China?
10Jan By NitishNo Comments
Story

Decoding: Is Jack Ma the Rupert Murdoch of China?

Last Year China’s e-commerce giant Alibaba announced to buy Hong Kong’s oldest English newspaper the South China Morning Post (SCMP) and other media properties for an undisclosed amount. People related to tech and e-commerce world was surprised on this move. Many were asking questions on motive of acquisition? But People very close to Jack Ma said, Ma’s ambition to explore the media business is strategic. His e-commerce empire has seen him invest in the media sector and he has publically spoken about his interest in the sector. Jack Ma knows clearly why American and other European companies rule over the world? Reason is Media. So why not invest in it to sustain your power. Jack Ma recently told Bloomberg TV during an interview in November that Alibaba needs the media to promote SME...
Read More
Alibaba’s Singles Day Sales in Pictures
22Nov By No Comments
Story

Alibaba’s Singles Day Sales in Pictures

The craziest shopping day of the year in China, Singles Day, has come to an end. Total sales for Alibaba this year hit $14.3B compared to last year’s $9.3B. All the media headlines are talking about Alibaba’s Singles Day sales data and how much money Alibaba made. I am going to tell you the story behind Alibaba Singles Day Sales. Ever wonder how Alibaba is able to achieve such huge sales numbers? Find out below: Alibaba’s Singles Day sale started at the strike of midnight, and Alibaba employees were all-hands-on-deck ready for the shopping “war.”   Here is the Alipay building all lit up. Alipay is Alibaba Group’s third-party online payment platform with no transaction fees.      Check this out! Temporary beds were set up in the board rooms. Everyone was read...
Read More
AllChinaTech exposes Alibaba’s fake $14B Single’s Day sales success
22Nov By AnkitaNo Comments
News

AllChinaTech exposes Alibaba’s fake $14B Single’s Day sales success

Alibaba performed insanely well during its Singles Day shopping festival on November 11th bringing in RMB 92.1 billion (USD 14 billion) in sales revenue. Despite this, Alibaba’s stock price dropped from 81.43 on November 10th to 75.85 on November 15th.   Why didn’t remarkable sales performance equate with a boost in stock price? AllChinaTech offers some quick answers. I. Stock price reflects expectations for a company, not necessarily past performance. The past few years have seen Alibaba experience strong growth, but the company is in need of something exciting to prove it can continue the momentum. It was reported last Friday, leading hedge fund manager, James Chanos, suggested shorting Alibaba stock and pitching long on competitor JD.com at a Morgan Stanley conference. Al...
Read More