https://www-scmp-com.libproxy1.nus.edu.sg/rss/170008/feed Jack Ma Yun, born in 1964, is a famous Chinese Internet entrepreneur and founder of Alibaba, Taobao and Alipay, three of China's leading e-commerce firms. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Nayan Seth,Ji Siqi Nayan Seth,Ji Siqi Differences between Washington and Beijing over potential investment announcements have created roadblocks for a Chinese business delegation expected to accompany President Xi Jinping on his state visit to the US, according to sources. The window for travel is narrowing by the hour for these Chinese business leaders. Xi left China on Wednesday afternoon Beijing time for his first state visit to the US in more than a decade. He is accompanied by first lady Peng Liyuan, chief of staff Cai Qi, and... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3368444/fissures-over-us-investments-stall-plans-chinese-business-leaders-join-xi-visit https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3368444/fissures-over-us-investments-stall-plans-chinese-business-leaders-join-xi-visit Wed, 23 Sep 2026 01:40:13 +0000 Xiaofei Xu Xiaofei Xu Taobao Instant Commerce, Alibaba’s on-demand delivery service that was revamped last year and is known as Taobao Shangou in Chinese, won a top French Design Award prize on Saturday for its delivery worker uniform, marking the first time the prize was awarded for a design for frontline workers. “We think the [Taobao Shangou] suit design would transform delivery workwear into a recognisable professional uniform, helping reshape how society sees this essential profession,” said Dario Olivero, chair... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368121/first-top-european-design-prize-awarded-eu20-uniform-chinas-delivery-drivers https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368121/first-top-european-design-prize-awarded-eu20-uniform-chinas-delivery-drivers Sat, 19 Sep 2026 14:00:11 +0000 SCMP Reporter SCMP Reporter Alibaba Group co-founder Jack Ma reflects on his ties to Hong Kong’s first chief executive, Tung Chee-hwa. Those connections spanned both business and philanthropy, encompassing Tung’s eight years on Alibaba’s board of directors and his inspirational role in Ma’s youth entrepreneurship foundation for local youths. Ma’s reflections are part of the South China Morning Post’s special commemorative print supplement published on Saturday. You can also find other tributes from the supplement here,... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3368070/hard-times-your-honour-shines-jack-ma-pays-tribute-tung-chee-hwa https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3368070/hard-times-your-honour-shines-jack-ma-pays-tribute-tung-chee-hwa Sat, 19 Sep 2026 03:00:10 +0000 Jeffie Lam Jeffie Lam Alibaba Group Holding has mourned the death of Tung Chee-hwa, who served as an independent director, saying the global perspective of Hong Kong’s first leader helped the e-commerce giant to remain rooted in the country while expanding internationally. Tung, Hong Kong’s first postcolonial chief executive, later became a vice-chairman of the Chinese People’s Political Consultative Conference (CPPCC), the country’s top political advisory body. He joined Alibaba Group’s board as an independent... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3367165/alibaba-mourns-former-independent-director-tung-chee-hwa-hails-his-global-vision https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3367165/alibaba-mourns-former-independent-director-tung-chee-hwa-hails-his-global-vision Fri, 11 Sep 2026 06:15:58 +0000 Zoe SL Chan Zoe SL Chan Yunxi Technology, officially one of China’s “little giants”, has submitted a confidential initial public offering application to Hong Kong’s stock exchange, according to people familiar with the matter. The Guangzhou-based start-up was valued at 10 billion yuan (US$1.27 billion) in its latest private funding round and was working with Bocom International on the deal, aiming to raise “several hundred million [US] dollars”, said the people, who asked not to be named because of the sensitivity of... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3366347/chinas-ai-little-giant-yunxi-technology-files-hong-kong-ipo-sources https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3366347/chinas-ai-little-giant-yunxi-technology-files-hong-kong-ipo-sources Fri, 04 Sep 2026 08:00:09 +0000 Yulu Ao Yulu Ao Bitcoin and gold rallied this week as the size of America’s sovereign debt continued to haunt global financial markets. Meanwhile, Alibaba Group Holding’s top executives and founder Jack Ma bought back shares, and Shein announced plans for a smaller Hong Kong initial public offering than previously expected. Here are some of the figures that have drawn the most market attention this week. Founder, executives buy over HK$800m of Alibaba shares Alibaba founder Ma, chairman Joe Tsai and CEO Eddie... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365540/bitcoin-rally-and-alibaba-share-purchases-numbers-moving-markets https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365540/bitcoin-rally-and-alibaba-share-purchases-numbers-moving-markets Fri, 28 Aug 2026 07:00:13 +0000 SCMP SCMP We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. The path to America is narrowing. Here’s what that means for legal immigrants US green card interviews are on hold worldwide, student and work visas are subject to new restrictions, and citizenship is under fresh scrutiny. The SCMP... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3365519/us-visa-interviews-hold-china-slams-fresh-sanctions-over-iran-scmps-7-highlights https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3365519/us-visa-interviews-hold-china-slams-fresh-sanctions-over-iran-scmps-7-highlights Fri, 28 Aug 2026 04:45:04 +0000 Coco Feng Coco Feng Alibaba Group Holding founder Jack Ma has bought more than HK$600 million worth of the company’s Hong Kong-listed shares on consecutive days, according to people familiar with the matter, a show of confidence in the firm’s long-term prospects for artificial intelligence. The purchases showed Ma’s “strong confidence for Alibaba to realise its AI ambitions and capture the long-term growth opportunities ahead”, one source said. Meanwhile, Alibaba chairman Joe Tsai and CEO Eddie Wu Yongming spent a... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3365217/jack-ma-buys-hk600-million-alibaba-shares-signalling-ai-confidence-sources https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3365217/jack-ma-buys-hk600-million-alibaba-shares-signalling-ai-confidence-sources Tue, 25 Aug 2026 10:45:10 +0000 Wency Chen Wency Chen Dongfang Suanxin, a Chinese semiconductor start-up backed by state funds and domestic tech giants, has unveiled an ambitious plan to challenge American market leader Nvidia by using alternative chip architectures to sidestep United States-led export controls. The Shanghai-based firm announced on Monday that its strategy was built on software-defined computing and 3D-stacked near-memory architecture, which it said could reduce reliance on the advanced manufacturing processes and cutting-edge... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-war/article/3360415/nvidias-future-challenger-chinese-start-reveals-aggressive-ai-chip-road-map https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-war/article/3360415/nvidias-future-challenger-chinese-start-reveals-aggressive-ai-chip-road-map Mon, 13 Jul 2026 14:00:14 +0000 Ann Cao Ann Cao A Chinese artificial intelligence chip start-up led by industry veteran Wei Shaojun has emerged from stealth mode, joining giants like Huawei Technologies in betting on 3D stacking to bypass US tech export controls. Dongfang Suanxin, a company headed by Wei, who is also vice-president of the China Semiconductor Industry Association, has stepped into the spotlight by launching a corporate website and social media account, positioning itself as a new but formidable player in China’s AI computing... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3359336/chinese-ai-chip-start-exits-stealth-mode-bets-3d-stacking-bypass-us-controls https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3359336/chinese-ai-chip-start-exits-stealth-mode-bets-3d-stacking-bypass-us-controls Sun, 05 Jul 2026 04:00:11 +0000 Ann Cao Ann Cao Chinese tech giants including Tencent Holdings, Alibaba Group Holding, Meituan, and Xiaomi have launched aggressive share buy-back programmes to revive investor confidence amid continuing scepticism towards the sector, while analysts suggest that a bottoming out could soon be in sight. Plagued by stock prices that have hit alarming lows in recent trading cycles, the tech heavyweights are leaning on massive share repurchase programmes and high-profile appearances by company leaders to boost... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3359062/will-share-buy-backs-help-chinese-big-tech-companies-rescue-battered-valuations https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3359062/will-share-buy-backs-help-chinese-big-tech-companies-rescue-battered-valuations Thu, 02 Jul 2026 01:00:10 +0000 Xinmei Shen Xinmei Shen An Alibaba Group Holding executive has urged hard work and endurance in an internal blog post after founder Jack Ma Yun and top executives gathered for a rice-planting team-building event, as the Chinese tech giant sharpens its artificial intelligence strategies. “The laws of the fields are very simple: when the season arrives, you must plant when it’s time to plant, and endure when it’s time to endure,” Liu Zhenfei, Alibaba partner and chairman of mapping service Amap, wrote in an article... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3357968/hard-work-and-endurance-what-alibabas-team-building-says-about-its-ai-drive https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3357968/hard-work-and-endurance-what-alibabas-team-building-says-about-its-ai-drive Mon, 22 Jun 2026 16:45:30 +0000 Josephine Ma Josephine Ma James Heckman is the Henry Schultz distinguished service professor of economics and public policy and director of the Centre for the Economics of Human Development at the University of Chicago. Heckman has devoted his professional life to understanding the origins of major social and economic questions related to inequality, social mobility, discrimination and the formation of skills and regulation in labour markets. He has also done extensive research in China’s labour market and early... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3356073/nobel-laureate-james-heckman-value-risk-taking-and-chinas-common-goal https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3356073/nobel-laureate-james-heckman-value-risk-taking-and-chinas-common-goal Sun, 07 Jun 2026 22:00:12 +0000 Coco Feng Coco Feng Alibaba Group Holding chief technology officer (CTO) Wu Zeming has joined the company’s elite steering committee, joining co-founders Jack Ma and Joe Tsai in playing a central role in formulating the tech empire’s strategy. According to Alibaba’s website, the other members of the committee of the Alibaba Partnership are group CEO Eddie Wu Yongming and Jiang Fan, CEO of the e-commerce business unit. Born in 1982, the CTO represents a younger generation of tech executives climbing Alibaba’s... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3355716/alibaba-elevates-tech-chief-wu-zeming-elite-committee-ai-push-ramps https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3355716/alibaba-elevates-tech-chief-wu-zeming-elite-committee-ai-push-ramps Tue, 02 Jun 2026 11:00:11 +0000 Eunice Xu Eunice Xu Victory Giant, a Chinese manufacturer of printed circuit boards (PCBs) for artificial intelligence and high-performance computing, rose by 57.23 per cent in its trading debut in Hong Kong on Tuesday, as investors rushed to tap into surging global demand for the hardware powering the AI infrastructure boom. Shares in the Guangdong-based company, a supplier to US chip leader Nvidia, opened at HK$330, versus the offer price of HK$209.88 – the maximum offer price. The firm raised HK$20 billion... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3350801/chinese-circuit-board-supplier-victory-giant-jumps-hong-kong-share-debut https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3350801/chinese-circuit-board-supplier-victory-giant-jumps-hong-kong-share-debut Tue, 21 Apr 2026 01:43:39 +0000 Coco Feng Coco Feng Chinese billionaire Jack Ma and the core leadership of Alibaba Group Holding and Ant Group spent over an hour with teachers in Hangzhou on Tuesday, discussing the profound challenges and opportunities brought about by artificial intelligence. Ma told the group that the impact of AI was “immense”, but so were the “opportunities” and that teenagers held the greatest hope and opportunity for adapting to and enabling transformation in the AI era, according to a statement issued by Hangzhou Yungu... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3345343/jack-ma-alibaba-executives-meet-teachers-discuss-how-education-should-adapt-ai-era https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3345343/jack-ma-alibaba-executives-meet-teachers-discuss-how-education-should-adapt-ai-era Wed, 04 Mar 2026 03:37:00 +0000 Lucy Quaggin Lucy Quaggin They are young, intensely competitive, and unapologetic about 80-hour work weeks. Welcome to the United States’ new generation of tech founders. Gen Z’s start-up class is reframing “millennial hustle culture” by shifting from side gigs and personal branding to a more rigid office grind, while looking to China for inspiration. It’s for this reason that US artificial intelligence start-ups are openly embracing 996, the controversial 9am to 9pm, six-day-a-week schedule popularised by Chinese tech... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3344052/996-goes-west-us-ai-start-ups-adopt-china-techs-controversial-work-schedule-get-ahead https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3344052/996-goes-west-us-ai-start-ups-adopt-china-techs-controversial-work-schedule-get-ahead Fri, 20 Feb 2026 14:00:07 +0000 Vincent Chow Vincent Chow Education in China’s countryside should shift away from rote-based learning to focus on nurturing curiosity and creativity in the artificial intelligence era, Alibaba Group Holding founder Jack Ma said in a meeting with rural teachers on Monday. In remarks published by the Jack Ma Foundation on Tuesday, former English teacher Ma said the dawn of the AI era posed a challenge for rural education, but also presented an opportunity to “return to the fundamentals of education”. Alibaba owns the South... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3341543/teach-our-children-well-jack-ma-urges-changes-chinas-rural-education-ai-era https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3341543/teach-our-children-well-jack-ma-urges-changes-chinas-rural-education-ai-era Wed, 28 Jan 2026 11:00:09 +0000 Coco Feng Coco Feng YF Capital, a private equity firm backed by Chinese billionaire Jack Ma Yun, has taken a minority stake in Shanghai-based memory chip developer InnoStar Semiconductor, according to corporate records. Hainan Yunfeng Fund Centre, an affiliate of YF Capital, became the chipmaker’s 14th-largest shareholder after acquiring a 2.1 per cent stake, based on a change record dated December 17 on business information platform Aiqicha. The investment came after Ant Group backed InnoStar in August. Both YF... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3337497/jack-ma-backed-yf-capital-takes-stake-shanghai-memory-chipmaker-innostar https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3337497/jack-ma-backed-yf-capital-takes-stake-shanghai-memory-chipmaker-innostar Tue, 23 Dec 2025 13:00:09 +0000 Cheryl Arcibal Cheryl Arcibal Activity in Hong Kong’s ultra-luxury residential market is picking up, with Swire Properties selling two homes in Deep Water Bay for a whopping HK$2.2 billion (US$283 million). The two three-storey units at 6 Deep Water Bay Road had saleable areas of about 9,600 sq ft and 5,300 sq ft, with the transactions set to be completed in the first quarter of 2026, the developer said. Both units were acquired by the same buyer. On a per square foot basis, the deal works out to HK$147,010, “one of the... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3337328/swire-properties-sells-2-deep-water-bay-homes-us283-million-biggest-deal-years https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3337328/swire-properties-sells-2-deep-water-bay-homes-us283-million-biggest-deal-years Mon, 22 Dec 2025 23:30:09 +0000 Victoria Bela Victoria Bela A microbiologist who revolutionised the production of laboratory-grown seafood protein took home the top prize in the 2025 African Business Heroes awards in Rwanda on Saturday, in the seventh annual edition of the largest event for start-ups of its kind on the continent. Diana Orembe, the founder of Tanzania-based NovFeed, was the winner out of 10 finalists in the awards, which received up to 32,000 applications from 54 countries. She took home US$300,000 in grant funding. Abraham Mbuthia of the... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3336326/china-africa-partnership-leaps-future-beijing-expands-market-access-envoy https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3336326/china-africa-partnership-leaps-future-beijing-expands-market-access-envoy Sat, 13 Dec 2025 09:19:45 +0000 Wency Chen Wency Chen Alibaba Group Holding named its cloud unit’s technology officer Zhou Jingren, who also leads its artificial intelligence lab Tongyi and the development of its Qwen AI models, as a new member of the group in charge of steering the business empire, according to people briefed about the decision. Alibaba has not updated the information on its official website. The Alibaba Partnership had 17 members before the addition, including co-founders Jack Ma and Joe Tsai as permanent ones. Alibaba did not... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3335932/alibaba-names-ai-lab-leader-zhou-jingren-new-group-partner https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3335932/alibaba-names-ai-lab-leader-zhou-jingren-new-group-partner Wed, 10 Dec 2025 12:00:42 +0000 SCMP Editorial SCMP Editorial A blaze that cannot be contained in one tower is a nightmare scenario for a high-rise city. In an extreme case, it can spread to companion towers like a firestorm. It happened to Hong Kong on Wednesday night. The catastrophic consequences of the city’s deadliest fire in decades are still being counted in the numbers of dead, injured, missing and homeless after the Tai Po public housing estate inferno. Our first thoughts must be with the grieving families. President Xi Jinping, on Wednesday... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3334407/community-effort-needed-help-survivors-and-those-who-lost-loved-ones-tai-po-tragedy https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3334407/community-effort-needed-help-survivors-and-those-who-lost-loved-ones-tai-po-tragedy Thu, 27 Nov 2025 22:45:07 +0000 Zhou Xin Zhou Xin The Jack Ma Foundation said on Thursday it would donate HK$30 million (US$3.9 million) to support families, firefighters and rescuers affected by a deadly fire at a housing estate in Hong Kong’s Tai Po district. In a statement, the foundation – established by the founder of Alibaba Group Holding and Ant Group – expressed solidarity with all those affected by the tragedy. Alibaba owns the South China Morning Post. The donation follows a further commitment of HK$20 million from Alibaba and HK$10... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3334336/jack-ma-foundation-alibaba-and-ant-group-pledge-us8-million-hong-kong-fire-victims https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3334336/jack-ma-foundation-alibaba-and-ant-group-pledge-us8-million-hong-kong-fire-victims Thu, 27 Nov 2025 07:22:14 +0000 Vincent Chow Vincent Chow Ant Group’s new “vibe coding” artificial intelligence app LingGuang has overwhelmed servers after user downloads surpassed 1 million in just four days, hitting the milestone faster than OpenAI’s ChatGPT and Sora, according to the Chinese fintech giant. The app’s innovative functionality of generating applications in response to users’ text prompts was temporarily suspended on Thursday evening, with the company attributing the issue to excessive usage in a post on Weibo. As of Saturday, LingGuang... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3333776/ant-groups-lingguang-vibe-coding-app-hits-1-million-downloads-just-4-days https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3333776/ant-groups-lingguang-vibe-coding-app-hits-1-million-downloads-just-4-days Sun, 23 Nov 2025 01:00:28 +0000 Ben Jiang Ben Jiang Alibaba Group Holding founder Jack Ma on Tuesday made a low-key visit to the Hangzhou campus of Ant Group that coincided with the Chinese fintech giant’s launch of LingGuang, a next-generation multimodal artificial intelligence assistant. Ma, who had relinquished his control of the fintech company and resigned from all corporate roles at Alibaba, was seen accompanied by Ant Group chairman Eric Jing Xiandong and CEO Cyril Han Xinyi during his tour of the campus. Ant Group is an affiliate of... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3333403/alibaba-founder-jack-ma-visits-ant-group-campus-fintech-giant-ramps-ai-efforts https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3333403/alibaba-founder-jack-ma-visits-ant-group-campus-fintech-giant-ramps-ai-efforts Wed, 19 Nov 2025 10:00:50 +0000 Xinmei Shen Xinmei Shen Bitcoin continues to plunge as a cryptocurrency sell-off deepens, shaving off gains in share prices that some Hong Kong-listed firms made this year after launching digital asset initiatives. Bitcoin at one point on Tuesday dropped below US$90,000, more than 4 per cent lower than at the start of 2025, after hitting multiple all-time highs this year. The world’s largest cryptocurrency had “underperformed both gold and the Nasdaq amid risk-off sentiment and tight liquidity, exacerbated by the... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3333253/extreme-fear-bitcoin-plunge-hammers-hong-kong-listed-firms-tied-digital-assets https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3333253/extreme-fear-bitcoin-plunge-hammers-hong-kong-listed-firms-tied-digital-assets Tue, 18 Nov 2025 10:00:19 +0000 Xinmei Shen Xinmei Shen Ant Group affiliate OceanBase has unveiled plans to strengthen its presence in Hong Kong, using the city as a base for overseas expansion to grow its share in the global database market dominated by US technology giant Oracle. The Chinese distributed database provider had designated Hong Kong as a “strategic hub” for its global expansion, following rapid growth in the city, as well as in Macau and the mainland, CEO Evan Yang said on Thursday. The move further solidified Hong Kong’s role as a hub... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3331779/ant-group-affiliate-oceanbase-uses-hong-kong-hub-challenge-oracle https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3331779/ant-group-affiliate-oceanbase-uses-hong-kong-hub-challenge-oracle Thu, 06 Nov 2025 09:00:30 +0000 Ann Cao Ann Cao Alibaba Group Holding kicked off direct sales for its annual Singles’ Day shopping festival on Monday, with initial figures surpassing last year’s performance – a sign of strengthening domestic consumption during China’s biggest online retail event. Since direct sales began on Taobao and Tmall at 8pm on Monday, 80 brands had exceeded 100 million yuan (US$13.8 million) in sales within the first hour, while more than 30,000 brands doubled their takings from a year earlier, according to data... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3329770/alibabas-singles-day-shows-faster-growth-80-brands-hit-us14-million-hour https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3329770/alibabas-singles-day-shows-faster-growth-80-brands-hit-us14-million-hour Tue, 21 Oct 2025 09:00:10 +0000 Ann Cao Ann Cao Alibaba Group Holding is taking advantage of artificial intelligence to turn its online marketplace into a “comprehensive consumption platform”, as the e-commerce giant regains momentum in an extremely competitive market. The company kicked off its annual Singles’ Day event – the world’s largest shopping festival – on Wednesday, riding on the back of strong growth in online shopping and on-demand delivery. Taobao and Tmall, Alibaba’s two domestic e-commerce platforms, are offering 50 billion... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3329266/alibaba-banks-ai-boost-singles-day-sales-taobao-tmall https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3329266/alibaba-banks-ai-boost-singles-day-sales-taobao-tmall Thu, 16 Oct 2025 11:00:32 +0000 Xinmei Shen Xinmei Shen Yunfeng Financial Group, a fintech company backed by Alibaba Group Holding founder Jack Ma, has hired a former senior executive at Ant Group, which signalled a sharpened commitment to Web3 businesses. Geoff Jiang Guofei – former president at Ant Digital Technology Business Group, responsible for leading the fintech giant’s blockchain project – now serves as the “chairman of the Web3 Development Committee” at Hong Kong-listed Yunfeng, according to a fact sheet for investors published on the... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3325989/jack-ma-backed-yunfeng-names-ex-ant-group-executive-top-web3-architect https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3325989/jack-ma-backed-yunfeng-names-ex-ant-group-executive-top-web3-architect Thu, 18 Sep 2025 11:00:09 +0000 Eric Ng,Aileen Chuang Eric Ng,Aileen Chuang GCL Technology, one of China’s largest solar panel raw materials makers, and Yunfeng Financial Group, plan to take advantage of Hong Kong’s sustained stock market recovery to raise HK$6.6 billion (US$848.5 million) to fund their expansion. GCL agreed to sell 4.74 billion shares to Infini Capital Management, a Hong Kong and Abu Dhabi-based firm owned by Tony Chin, the Jiangsu-based maker of polysilicon and solar wafers said in a Hong Kong stock exchange filing on Tuesday. The selling price at... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3325674/gcl-yunfeng-ride-hong-kong-stock-market-recovery-us8485-million-funding https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3325674/gcl-yunfeng-ride-hong-kong-stock-market-recovery-us8485-million-funding Tue, 16 Sep 2025 04:11:13 +0000 Ann Cao Ann Cao Alibaba Group Holding has fired another shot at on-demand delivery giant Meituan, with a campaign that brings merchants from its Tmall business-to-consumer shopping platform onto its Taobao Instant Commerce site. The campaign – dubbed “Jishigou”, which translates to instant purchase in Chinese – has seen more than 260 brands on Alibaba’s Tmall premium retail platform join its instant commerce service, the company said on Tuesday. Alibaba owns the South China Morning Post. Taobao Shangou,... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3324924/alibaba-mobilises-merchants-premium-tmall-site-join-instant-commerce-drive https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3324924/alibaba-mobilises-merchants-premium-tmall-site-join-instant-commerce-drive Tue, 09 Sep 2025 12:17:10 +0000 Wency Chen Wency Chen Alibaba Group Holding is rolling out a new outfit for its delivery workers that resembles the racing suit for Formula One (F1) racers, as the company seeks to give China’s e-commerce sector a facelift. Alibaba will conduct an internal auction of 102 autographed uniforms, signed by group founder Jack Ma, CEO Eddie Wu Yongming and e-commerce chief Jiang Fan for the firm’s employees on September 10, Alibaba’s anniversary, according to a company post on Friday. The new orange uniform, a change from... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3324791/new-f1-style-outfit-alibaba-shows-effort-give-china-e-commerce-sector-facelift https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3324791/new-f1-style-outfit-alibaba-shows-effort-give-china-e-commerce-sector-facelift Tue, 09 Sep 2025 01:00:13 +0000 Xinmei Shen Xinmei Shen A subsidiary of Fosun International this week marked a new milestone in bringing traditional financial instruments onto a blockchain infrastructure, which it touted as Asia’s first “comprehensive” technical solution for stock performance-linked tokens. Fosun Wealth Holdings-backed start-up Finloop Finance Technology Holding collaborated with FinChain, a Web3 brand under Fosun Wealth, in creating the new solution for real-world asset (RWA) tokenisation in Hong Kong. The first Hong Kong stock... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3324522/fosun-drives-interest-honk-kong-stock-performance-linked-tokens-blockchains https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3324522/fosun-drives-interest-honk-kong-stock-performance-linked-tokens-blockchains Fri, 05 Sep 2025 11:00:12 +0000 Xinmei Shen Xinmei Shen A growing number of Hong Kong-listed firms are snapping up cryptocurrency on the back of rising bitcoin prices and the popularity of digital asset treasury (DAT) companies in the US. Investment bank China Renaissance, which helped fund many leading Chinese tech firms, and Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, are among the Hong Kong-listed financial institutions that have recently bought a large amount of crypto tokens, according to their respective filings.... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3324365/hong-kong-listed-firms-sharpen-digital-asset-investment-strategy-amid-rising-crypto-prices https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3324365/hong-kong-listed-firms-sharpen-digital-asset-investment-strategy-amid-rising-crypto-prices Thu, 04 Sep 2025 12:30:11 +0000 Xinmei Shen Xinmei Shen Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according to an exchange filing on Tuesday. Ether would provide “key infrastructure support” for real-world asset (RWA) tokenisation activities, Yunfeng... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3324137/yunfeng-financial-invests-us44-million-ether-amid-hong-kongs-virtual-asset-push https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3324137/yunfeng-financial-invests-us44-million-ether-amid-hong-kongs-virtual-asset-push Wed, 03 Sep 2025 05:01:06 +0000 Hannah Wang Hannah Wang Alibaba Group Holding and its fintech affiliate Ant Group, both co-founded by Jack Ma, have joined forces to create an army of delivery service workers to defeat Meituan in the instant commerce market. A total of 22 businesses operated by Alibaba and Ant, including domestic online marketplaces Taobao and Tmall, Ant’s Alipay payment service and Alibaba Cloud, have pledged to improve the conditions of millions of delivery riders. Alibaba owns the South China Morning Post. Alibaba’s move to pool... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3322369/alibaba-ant-combine-forces-take-meituan-chinas-instant-commerce-market https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3322369/alibaba-ant-combine-forces-take-meituan-chinas-instant-commerce-market Tue, 19 Aug 2025 12:00:08 +0000 June Xia,Ji Siqi June Xia,Ji Siqi In another show of support for China’s private sector, Beijing has released the details of a speech from President Xi Jinping which included vows the country would guarantee a level playing field for private firms, safeguard entrepreneurs’ lawful rights and interests, and step up efforts to solve their long-standing challenges, including overdue payments. The full address, delivered in February to a group of China’s leading entrepreneurs, had not been made available to the public before Friday,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3321999/chinas-xi-jinping-calls-no-delay-private-sector-protection https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3321999/chinas-xi-jinping-calls-no-delay-private-sector-protection Fri, 15 Aug 2025 09:00:22 +0000 Wency Chen Wency Chen Alibaba Group Holding’s chief financial officer Toby Xu Hong reiterated the company’s confidence in China’s growing artificial intelligence sector and the consumer market’s resilience in an interview with state news agency Xinhua, as he highlighted the tech giant’s significant investments in AI research, infrastructure, and on-demand delivery. Xu said Alibaba had earmarked 380 billion yuan (US$52 billion) for AI infrastructure, and 50 billion yuan for subsidies to merchants and consumers to... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3320131/alibabas-finance-chief-voices-confidence-chinas-ai-boom-and-consumer-market https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3320131/alibabas-finance-chief-voices-confidence-chinas-ai-boom-and-consumer-market Wed, 30 Jul 2025 09:00:17 +0000 Wency Chen Wency Chen China is set to showcase its artificial intelligence (AI) prowess, as well as its vision of how to manage the disruptive technology, at a conference in Shanghai as the country is stepping up its competition against the US for AI supremacy. The annual three-day World Artificial Intelligence Conference (WAIC), which starts on July 26, would showcase more than 3,000 hi-tech products, 40 large language models, 50 AI-powered devices and 60 intelligent robots, according to the organisers. Most of the... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-war/article/3317737/chinas-ai-acumen-vision-be-showcased-waic-shanghai-amid-fierce-race-us https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-war/article/3317737/chinas-ai-acumen-vision-be-showcased-waic-shanghai-amid-fierce-race-us Thu, 10 Jul 2025 12:00:09 +0000 Ann Cao Ann Cao Alibaba Group Holding has trimmed its partnership – a key corporate governance body for the e-commerce and artificial intelligence (AI) giant – as it embraces younger business leaders and strives to return to a start-up mindset. Nine executives and company veterans – including former CEO Daniel Zhang Yong, 53, and fellow co-founders Trudy Dai Shan, 48, and Lucy Peng Lei, 51, who started the company with Jack Ma in 1999 – have exited the partnership, according to Alibaba’s annual report released... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3316078/alibaba-trims-key-governance-body-it-embraces-ai-and-bets-younger-leaders https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3316078/alibaba-trims-key-governance-body-it-embraces-ai-and-bets-younger-leaders Fri, 27 Jun 2025 07:30:08 +0000 Wency Chen Wency Chen Alibaba Group Holding is merging its food delivery platform Ele.me and online travel agency Fliggy into its core e-commerce business, as the Chinese tech giant seeks to streamline operations and sharpen its focus on artificial intelligence (AI). The restructuring “marks a strategic upgrade from an e-commerce platform to a comprehensive consumer platform”, Alibaba CEO Eddie Wu Yongming wrote in a letter to employees on Monday. “Moving forward, we will increasingly optimise our business models and... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3315436/alibaba-merges-delivery-platform-eleme-and-travel-agency-fliggy-e-commerce-group https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3315436/alibaba-merges-delivery-platform-eleme-and-travel-agency-fliggy-e-commerce-group Mon, 23 Jun 2025 03:51:18 +0000 Coco Feng Coco Feng Charles Zhang Chaoyang, the founder, chairman and CEO of Chinese internet pioneer Sohu.com, urges college students on the mainland to skip postgraduate studies and defer plans to start a new business until they “gain some real experience” by working for a company. Citing his own experiences, Zhang said his postgraduate degree did not contribute much when he set up and began running his own company, according to his Saturday interview with Rupert Hoogewerf, chairman and chief researcher at Hurun... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3314645/china-internet-pioneer-urges-students-skip-graduate-school-defer-start-plans https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3314645/china-internet-pioneer-urges-students-skip-graduate-school-defer-start-plans Tue, 17 Jun 2025 00:00:15 +0000 Wency Chen Wency Chen Ant International, which was spun off from fintech giant Ant Group last year, published its first independent sustainability report on Monday, underscoring its operational autonomy from its Chinese parent. Speculation has been rife over a potential listing by Ant International, which is registered in Singapore. In the report, the company emphasised its “new corporate identity”, describing its mission as “to make it easy to do business anywhere, bringing small and beautiful changes to the... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3314582/ant-international-issues-first-sustainability-report-after-spin-amid-ipo-speculation https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3314582/ant-international-issues-first-sustainability-report-after-spin-amid-ipo-speculation Mon, 16 Jun 2025 07:00:11 +0000 Wency Chen Wency Chen Jack Ma, founder of Alibaba Group Holding, responded to the resignation letter of a long-term employee on Tuesday, a rare move for the tech veteran who stepped back from all corporate roles in 2019. In a response published on Alibaba’s internal website, Ma addressed the concerns raised by a 15-year employee, who criticised the “big company disease” afflicting the Chinese e-commerce giant in an extensive internal letter. The employee, a product development leader on the team responsible for... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3314089/jack-ma-replies-alibaba-employees-letter-lamenting-big-company-disease https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3314089/jack-ma-replies-alibaba-employees-letter-lamenting-big-company-disease Thu, 12 Jun 2025 03:45:07 +0000 Ann Cao Ann Cao Alibaba Group Holding is renaming its digital entertainment division as part of a broader push to reinvigorate growth outside its core e-commerce and cloud businesses. Alibaba Digital Media and Entertainment Group will be renamed Hujing Digital Media and Entertainment Group, using the Chinese name for the orca, or killer whale, Alibaba said in a statement on its official WeChat account on Wednesday. “Orcas are large but flexible and smart, and can adapt to various complex environments,” the... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3311256/alibabas-entertainment-group-renamed-after-killer-whale-it-seeks-revive-growth https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3311256/alibabas-entertainment-group-renamed-after-killer-whale-it-seeks-revive-growth Wed, 21 May 2025 23:00:17 +0000 Bloomberg Bloomberg Jack Ma-backed Ant Group’s international division generated nearly US$3 billion in revenue for 2024, according to people familiar with the matter, setting the stage for a spin-off after the unit set up its own board last year. Ant International, which is headquartered in Singapore, has also produced two consecutive years of adjusted profit, the people said, requesting not to be named because the information is not public. It is not clear how the company calculates its adjusted Ebitda – earnings... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3310945/ant-groups-global-unit-pulls-us3-billion-revenue-ahead-spin https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3310945/ant-groups-global-unit-pulls-us3-billion-revenue-ahead-spin Mon, 19 May 2025 10:51:22 +0000 Ann Cao Ann Cao Alibaba Group Holding’s operations will be driven by artificial intelligence (AI) in the next three to five years, in line with the e-commerce giant’s ambitious AI strategy, according to chairman Joe Tsai. “In the next three to five years, all of our businesses should be driven by AI,” Tsai said on Saturday at AliDay, the company’s annual gathering for staff and family members. Alibaba owns the South China Morning Post. He added that he envisioned AI helping to grow the user base for its... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3309905/ai-will-be-mainstay-alibabas-business-next-3-5-years-chairman-joe-tsai-says https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3309905/ai-will-be-mainstay-alibabas-business-next-3-5-years-chairman-joe-tsai-says Sun, 11 May 2025 10:00:16 +0000 Wency Chen Wency Chen Jack Ma, founder of Alibaba Group Holding, received a rock-star welcome on Friday as he appeared at an annual event for staff and family, lifting employees’ spirits during a time of strategic repositioning at the business empire he established, according to company sources. Ma, 60, visited Alibaba’s campus in Hangzhou, capital of east Zhejiang province, in the evening. He toured a replica of the flat where he founded the company 26 years ago and attended a music show alongside thousands of... https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3309853/jack-mas-alibaba-visit-and-replica-flat-spark-nostalgia-over-companys-humble-start https://www-scmp-com.libproxy1.nus.edu.sg/tech/big-tech/article/3309853/jack-mas-alibaba-visit-and-replica-flat-spark-nostalgia-over-companys-humble-start Sat, 10 May 2025 10:30:09 +0000