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AutoX becomes China’s first to remove safety drivers from robotaxis

AutoX becomes China’s first to remove safety drivers from robotaxis Residents of Shenzhen will see truly driverless cars on the road starting Thursday. AutoX, a four-year-old startup backed by Alibaba, MediaTek and Shanghai Motors, is deploying a fleet of 25 unmanned vehicles in downtown Shenzhen, marking the first time any autonomous driving […]

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China’s tech firms rush to deliver solutions for grocery shopping

China’s tech firms rush to deliver solutions for grocery shopping Nearly all of China’s largest internet firms have established a presence in online grocery. Just this week, news arrived that Alibaba co-led the $196 million C3 funding round of Nice Tuan, the two-year-old grocery group-buying firm’s fourth round year to date. People […]

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Alibaba vies for a piece of China’s booming EV market

Alibaba vies for a piece of China’s booming EV market There’s no lack of news these days on China’s tech giants teaming up with traditional carmakers. Companies from Alibaba to Huawei are striving to become relevant in the trillion-dollar auto industry, which itself is seeking an electric transition and intelligent upgrade as […]

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China to ship 3 billion parcels during post-COVID Singles’ Day

China to ship 3 billion parcels during post-COVID Singles’ Day China’s e-commerce behemoths Alibaba and JD.com again claimed to have set records during the world’s largest shopping event, Singles’ Day. The figures can often be gamed to paint a rosy picture of perpetual growth, journalists and analysts have long observed, so they […]

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The race to be China’s top fintech platform: Ant vs Tencent

The race to be China’s top fintech platform: Ant vs Tencent As Ant Group seizes the world’s attention with its record initial public offering, which was abruptly called off by Beijing, investors and analysts are revisiting Tencent’s fintech interests, recognized as Ant’s archrival in China. It’s somewhat complicated to do this, not […]

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Pulled Ant Group IPO costs Alibaba nearly $60B in market cap

Pulled Ant Group IPO costs Alibaba nearly B in market cap News today that Ant Group’s IPO is suddenly on hold in both Shanghai and Hong Kong caused a sell-off of Alibaba shares. This afternoon, equity in sister-company Alibaba is off around 8% in the wake of the delayed offering and news […]

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Alibaba Group will spend $3.6 billion to take control of Chinese supermarket giant Sun Art

Alibaba Group will spend .6 billion to take control of Chinese supermarket giant Sun Art Alibaba Group said today it will spend about $3.6 billion to take a controlling stake in Sun Art, one of China’s largest big-box and supermarket chains. After the transaction is complete, Alibaba Group will own 72% of […]

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Alibaba-affiliated marketplace to leave Taiwan, again

Alibaba-affiliated marketplace to leave Taiwan, again Separated by a strait, the internet in Taiwan and mainland China are two different worlds. Even mainland tech giants Alibaba and Tencent have had little success entering the island, often running into regulatory hurdles. Less than a year after Taobao launched on the island through an […]

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Thailand’s logistics startup Flash Express raises $200 million

Thailand’s logistics startup Flash Express raises 0 million Flash Express, a two-year-old logistics startup that works with e-commerce firms in Thailand, said on Monday it has raised $200 million in a new financing round as it looks to double down on a rapidly growing market spurred by demand due to the coronavirus […]

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China’s logistics titan YTO nets close to $1B from Alibaba in overseas push

China’s logistics titan YTO nets close to B from Alibaba in overseas push E-commerce has brought in a logistics boom in China over the last decade, transforming small-town delivery businesses into multinational corporations. One leading player, YTO, is gearing up for international expansion after it secured 6.6 billion yuan or $970 million […]

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