The extraordinary move to suspend the $34 billion initial public offering of Ant Group, the online-finance operation carved out of Alibaba, caps a tug of war between billionaire Jack Ma and Chinas top regulators.
The financial-technology company part-owned by Alibaba Group is set to raise at least $34.4 billion through dual listings in Shanghai and Hong Kong.
Chinas big tech companies are circling the auto-repair business in a bid to capture the boom in vehicle maintenance as the countrys vast car fleet begins to age.
When the coronavirus changed customers buying habits overnight, Kroger, the nations largest grocer, wasnt as ready as some competitors, despite having invested hundreds of millions of dollars in technology to give it a digital edge.
Spending on China-based cloud services hit a record high in the second quarter as Chinese companies increased the use of online business tools in the aftermath of the coronavirus pandemic.
Investors punished Pinduoduo and rewarded Alibaba and JD after their quarterly results. Chinese e-commerce companies need to deliver growth to meet rising expectations.
The Chinese e-commerce giant says its fiscal first-quarter profit more than doubled from the same period a year earlier, mirroring the results of U.S. tech giants that have thrived as disruption from the coronavirus pandemic accelerated a migration online.