China price wars help spark US$157 billion rout in mainland consumer stocks
The biggest drags on the MSCI benchmark since the end of September 2023 include Alibaba, Yum China and BYD, which have all been offering big discounts.
Source: scmp.com
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Alibaba's Taobao and Tmall Group pushes new AI tools to boost merchants' service to consumers in first major move after leadership reshuffle
With the help of artificial intelligence, merchants on the Taobao and Tmall platforms are expected to improve their services and attract new customers.
Source: scmp.com
AliExpress, Temu face supply chain challenges in Korea
Chinese e-commerce giants are rising as the fastest-growing online platforms for Korean consumers, but they are still grappling with problems of long delivery time and unstable product quality, according to consumers and retail industry officials, Thursday.
Source: koreatimes.co.kr
PDD halts development of local services offering to avoid head-on competition with Meituan and Ele.me, report says
Chinese Big Tech firms have jostled for supremacy in a local services market expected to be worth 35 trillion yuan by 2025.
Source: scmp.com
ByteDance's Douyin makes instant refunds mandatory, following PDD, Taobao and JD.com amid fierce e-commerce competition
Merchants selling on the short video app Douyin can no longer opt out of the option to instantly refund up to US$211 before receiving returned goods.
Source: scmp.com