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Eddie Wu Yongming

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Eddie Wu Yongming

The latest news on Eddie Wu Yongming, CEO of Alibaba Group, including China business and technology news.

Born

1975

Industry

Business

Job Title

CEO of Alibaba Group

last updated:

4 December, 2024

Jiang Fan, the newly appointed chief executive of Alibaba E-commerce Business Group. Photo: Alibaba

Alibaba bets on retailing chief Jiang Fan to bolster e-commerce momentum

The merger of Alibaba’s domestic and overseas e-commerce businesses is expected to improve the firm’s operational and financial performance.

22 Nov 2024 - 8:33PM

Alibaba looks on course for a turnaround amid investor frenzy for Chinese stocks

27 Sep 2024 - 9:00PM

Alibaba CEO eyes greater AI research and development, open sources 100 new LLMs

19 Sep 2024 - 7:00PM

Alibaba to deploy AI-powered sourcing engine to boost trade for global merchants

The AI-driven sourcing tool will be accessible to merchants from September via a mobile app and the website of business-to-business e-commerce platform Alibaba.com.

31 Jul 2024 - 8:31PM

Alibaba’s latest initiative shows how the vast international business-to-business e-commerce market remains a major focus for the company. Photo: Shutterstock

Alibaba reports big drop in carbon emissions as it eyes 2030 target

Alibaba reported significant improvements in reducing carbon emissions over the past year, with clean electricity accounting for more than half of all power consumption in its cloud data centres.

22 Jul 2024 - 1:19PM

Artificial intelligence

Alibaba Cloud touts endorsements from major clients in AI computing race

Alibaba Cloud and rivals are gunning for a market that is expected to expand faster this year, thanks partly to popularity of generative AI.

8 Jul 2024 - 11:17PM

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China’s moonlighters seek side gigs on Alibaba’s online flea market

Xianyu, also known as Idle Fish, has launched a new feature allowing users to hire themselves out for part-time jobs.

3 Jul 2024 - 6:00PM

A Chinese woman stands in front of a billboard with the words “looking for a job” at a subway station in Beijing. Photo: AP Photo

Alibaba e-commerce unit’s latest executive reshuffle sees young leaders take over

The executive reshuffle at Taobao and Tmall Group shows how Alibaba is adhering to calls made by company co-founder Jack Ma to ‘give more power’ to young people.

31 May 2024 - 7:00AM

Alibaba emerges as major backer of high-flying Chinese start-up Moonshot AI

Alibaba has emerged as a major backer of Moonshot AI, one of China’s hottest artificial intelligence start-ups, holding a 36 per cent stake in the firm.

25 May 2024 - 10:10AM

Alibaba’s convertible bond sale to fund buy-backs ‘oversubscribed’

The Chinese tech giant is selling up to US$5 billion worth of convertible bonds, while company leaders set e-commerce and cloud computing as its core businesses in a move ‘towards strategic clarity’.

24 May 2024 - 7:23PM

An Alibaba office building in Nanjing, China. Photo: NurPhoto via Getty Images

Alibaba chairman Joe Tsai voices confidence in Chinese consumer spending

Confidence among Chinese consumers was showing ‘early signs of growth’, according to Alibaba chairman Joe Tsai, as the e-commerce giant expects business to be back on the growth path this year.

15 May 2024 - 12:54PM

Alibaba sees most profitable year since 2021 amid a refocus on core businesses

Alibaba net income rose 10 per cent to US$11 billion in the 2023 financial year, the first annual results since co-founder Joe Tsai took over as chairman.

14 May 2024 - 10:00PMvideocam

Alibaba seeks growth in Mongolia with marketplace selling Chinese goods

Launched in partnership with a local tech group, ShoppyHub.mn aims to offer products from Chinese manufacturers on Alibaba’s wholesale marketplace 1688.com.

8 May 2024 - 10:00AM

Alibaba’s flagship shopping site starts biggest revamp in 7 years

The e-commerce giant is rolling out the major overhaul ahead of China’s second-largest annual shopping extravaganza, the 618 sales event.

7 May 2024 - 10:00AM

Alibaba’s Taobao website is undergoing its largest revamp in seven years. Photo: Shutterstock

Artificial intelligence

Lenovo and Alibaba team up to build AI-powered personal computers

Lenovo has been strengthening its focus on AI amid a broader trend in the global PC industry to integrate the fast-developing technology into various products and services.

19 Apr 2024 - 7:00AM

Lenovo is partnership with Alibaba to launch AI-powered devices. Photo: Shutterstock

Alibaba’s Taobao launches 3D-capable app for use on Apple’s Vision Pro headset

The app marks the latest effort by Alibaba to improve users’ experience on its various online platforms via augmented and virtual reality technologies.

18 Apr 2024 - 7:06PM

Alibaba reorients business, rejigs overhaul after catalogue of mistakes

Alibaba scales back an ambitious business overhaul plan and bids farewell to a turbulent year, as its founders call on employees to embrace changes.

17 Apr 2024 - 5:27PM

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Alibaba Cloud cuts prices for international customers amid global AI race

Alibaba is cutting prices by as much as 59 per cent for international users of its compute, storage, network, database and big data products.

8 Apr 2024 - 7:30PMvideocam

Alibaba Cloud is cutting prices for international customers using servers in China as it seeks to compete with global tech giants amid surging AI-driven demand for compute services. Photo: Reuters

Alibaba-controlled hypermarket operator Sun Art appoints new CEO

The CEO change at Sun Art comes as Alibaba continues to adjust its offline retail businesses as part of a sweeping group-wide restructuring.

28 Mar 2024 - 9:51PM

Alibaba connects Taobao and 1688 to tap new users as competition intensifies

Taobao has recently featured three online stores under the 1688 name as it pushes to win over new users amid rising competition in China’s e-commerce space.

26 Mar 2024 - 9:49PM

Alibaba suspends ‘mom and pop’ platform LST as consolidation continues

The changes to LST come as Alibaba continues to rejig its e-commerce arm as well as other business units.

22 Mar 2024 - 9:00PM

LST is a project under Alibaba’s e-commerce unit Taobao and Tmall Group (TTG). Photo: Bloomberg

Artificial intelligence

Alibaba said to lead new financing round for Chinese AI start-up MiniMax

The MiniMax deal would mark Alibaba’s second major artificial intelligence start-up investment this year after leading Moonshot AI’s US$1 billion funding round in February.

6 Mar 2024 - 3:25PMvideocam

Signage for Alibaba Group Holding seen atop one of the company’s offices in Beijing on February 6, 2024. Photo: Bloomberg

Artificial intelligence

Alibaba tests new generative AI tools for merchants on Taobao and Tmall

Alibaba’s latest artificial intelligence push reflects a new tech arms race in mainland China’s e-commerce sector.

5 Mar 2024 - 9:00PMvideocam

Alibaba veteran to step down at Local Services Group amid restructuring

The management reshuffle is the latest step by Alibaba to promote a new generation of younger managers amid a sweeping restructuring.

1 Mar 2024 - 9:55PM

Alibaba’s cloud computing unit slashes prices by up to 55% on 100 core products

The initiative seeks to ‘lower the threshold of cloud services for more enterprises and developers’ in mainland China, where artificial intelligence development projects are driving demand.

29 Feb 2024 - 7:00PM

Alibaba Cloud, the digital technology unit of Alibaba Group Holding, has been a major sponsor of the Olympic Games since 2017. Photo: Shutterstock

Alibaba chairman Joe Tsai says e-commerce giant is set to bounce back: CNBC

Alibaba chairman Joe Tsai says e-commerce giant is poised to bounce back as restructuring process helps company improve competitiveness and customer service.

26 Feb 2024 - 9:00PM

Alibaba chairman Joe Tsai says e-commerce giant is poised to bounce back. Photo: Bloomberg

Alibaba increases share buy-back as profit and sales miss market estimates

Alibaba’s lower-than-expected quarterly financial results come amid challenging economic conditions and growing competition from new entrants in the online shopping sector.

8 Feb 2024 - 10:22AM

Alibaba’s AI tool can generate slide decks for business presentations

The AI PPT tool, priced at US$2.66 per month, can automatically generate slides based on preset topics or user requests.

26 Jan 2024 - 5:13PM

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