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The alliance will link Shopify’s millions of merchants around the world with JD.com’s 550 million active customers in China.
Growth in online sales of physical goods is now on par with total retail sales growth at about 12 per cent, as e-commerce decelerates and consumer spending recovers from the pandemic.
Tencent may opt for more divestments, while chasing fewer acquisitions this year, analysts say.
Campaign Asia's annual look at the brand disasters and slip-ups that dominated headlines this year
Pinduoduo and NIO are among Chinese ADRs that could apply for secondary listings in Hong Kong, says Goldman Sachs.