BABA Jun 2024 195.000 put
- South China Morning Post
China's 618 shopping festival: Alibaba touts early sales after withholding data last year, a sign of brighter outlook
Alibaba Group Holding and other e-commerce operators have released encouraging early sales data from their midyear 618 promotions - China's biggest shopping season after Singles' Day, and a bellwether of consumer sentiment in the world's second-largest economy. Four hours after Alibaba's Taobao and Tmall shopping platforms launched their sales event at 8pm on Monday, 59 brands each saw their gross merchandise value (GMV) - the value of goods sold - surpass 100 million yuan (US$13.8 million), whi
- Fortune
The race to lead China’s AI sector heats up as ByteDance, Alibaba and Baidu offer their models at rock-bottom prices
China's AI providers are slashing prices after TikTok-owned ByteDance unveiled new AI models that it claimed cost 99% less than the competition.
- Reuters
LVMH deepens partnership with Alibaba to boost tech presence in China
(Reuters) -French luxury group LVMH will deepen its partnership with Alibaba to leverage the firm's cloud and artificial intelligence capacities and boost its presence in China, the companies said on Wednesday. The world's biggest luxury group, and the Chinese e-commerce giant first forged a partnership in 2019. The reinforced ties come as luxury companies redouble efforts to cater to shoppers in China, where demand has been dampened by a property crisis and high youth unemployment.
