Alibaba sets target of 100k new sellers on platform
published : 14 May 2021 at 04:00
5
Alibaba.com, the business-to-business (B2B) platform of Chinese e-commerce powerhouse Alibaba, is hoping to draw 100,000 new sellers this fiscal year, driven by a strong upsurge in e-commerce business in the wake of the pandemic. Last year, the pandemic made digitalisation the main focus. This drove the growth of e-commerce, online transactions, online payments and online gross merchandise value increased by triple digits, said Stephen Kuo, head of Asia-Pacific for Alibaba.com.
He was speaking at a virtual event titled Go Export With Alibaba.com yesterday.
Mr Kuo said in fiscal 2022, which started April 1 this year and ends on March 31, 2022, Alibaba.com aims to attract 10 million new buyers and 100,000 new sellers onto its platform.
socaltech.com
Santa Monica-based
Happy Returns, which operates a business which makes it easier for consumers to returns items they have purchased at e-commerce startups and also handles all the logistics in processing those returns has been acquired by
PayPal. Financial terms of the buy were not announced. Happy Returns was venture backed by U.S. Venture Partners and Upfront Ventures, and also had previously raised strategic funding from PayPal itself. The last announced funding for Happy Returns was in April of 2019. Happy Returns has a network of approximately 2,600 retail locations, where consumers can drop of returns of products they purchased online.
The Central Bank of Bahrain is to use JPMorgan's blockchain platform Onyx in a pilot scheme to introduce instantaneous cross border payment using a digital currency.
Staff members work in a lab at Bayer HealthCare Company Limited Qidong Branch in Qidong, East China s Jiangsu province, Dec 2, 2020. - Xinhua
BEIJING (China Daily/ANN): China s Minister of Commerce Wang Wentao has pledged to enhance communication with foreign enterprises and chambers of commerce and provide better service.
Wang made the remarks Thursday at a symposium with foreign pharmaceutical companies as well as the American Chamber of Commerce in China and the European Union Chamber of Commerce in China.
Foreign investment has contributed actively to China s economic development since its reform and opening-up more than 40 years ago, while foreign enterprises have also fully benefited from China s development, he said.
US Trade Chief: New Legal Tools Needed to Combat Future China Threats
WASHINGTON The United States needs new legal tools are needed to be able to hold the Chinese Communist Party to account for anti-competitive threats against key American high-technology industries, to update existing tools that react once harm is done, U.S. Trade Representative Katherine Tai said on Thursday.
Tai told a U.S. House Ways and Means Committee hearing that existing trade law tools are more aimed at protecting U.S. industries and companies after they have already been injured by illegal price dumping and subsidies or other unfair competition.