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☆ China Commerce Minister Discusses Trade Ties, EV and Other Issues With EU's Breton
▼ + stars: | 2023-11-10 | by ( Nov. | At A.M. | ) www.usnews.com time to read: 1 min

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Organizations: U.S . News, U.S News

☆ Veteran EM investor Mark Mobius reveals the 2 tech giants that are key to any portfolio
▼ + stars: | 2023-10-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Veteran emerging markets investor Mark Mobius has named Alibaba and Tencent as key stocks in any portfolio investing in developing economies. Mobius said the Chinese technology giants "could be the foundation of any portfolio" despite recent volatility. Mobius is known for his long-term conviction picks of smaller companies, but stressed the resilience of the two Chinese tech titans. The fund manager said he likes the agility and profitability of smaller tech companies in the region but acknowledged geopolitical risks. So these companies are really very interesting companies," Mobius added.

Persons: Mark Mobius, Mobius, Alibaba, BABA, Franklin Templeton, they're, CNBC's, James Lee, Mizuho, It's Organizations: NYSE, Mobius Capital Partners, Hong, Investment, Mizuho Securities, Franklin, Taiwan Semi, Nvidia, AMD, Fund, Zilltek Technology Locations: Hong Kong, China, Taiwan, Beijing, TSMC, California

☆ What China's big earnings say about the consumer
▼ + stars: | 2023-08-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

But general merchandise revenue fell by 8.6% from a year ago to 81.72 billion yuan. Marketing revenue rose by 8.5% to 22.51 billion yuan. TencentLivestreaming e-commerce saw 150% year-on-year growth in gross merchandise value in the second quarter to an unspecified number. Overall, Tencent reported earnings for the quarter that missed expectations, but showed a third-straight quarter of revenue growth. The overall Taobao and Tmall Group saw revenue grow by 12% to 114.95 billion yuan.

Persons: Aly Song, Tencent, ByteDance, Tim Cook, Li Ning Organizations: Artificial Intelligence, Reuters, Electronics, Tmall, Shanghai Disney, Universal Studios Beijing, Comcast, Baidu, Adidas, Fila, Apple Apple Locations: Shanghai, China, Reuters BEIJING, Douyin, Greater China

☆ Top US-China exchanges since Biden took office
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +5 min

Below is a list of some of the other high level U.S.-China exchanges since President Joe Biden took office in 2021. FIRST TRADE TALKS - May 26, 2021U.S. Trade Representative Katherine Tai and China's then Vice Premier Liu He held talks virtually, the first such high level trade talks between the world's two biggest economies since Biden took office. DIPLOMAT VISITS CHINA - July 26, 2021Deputy Secretary of State Wendy Sherman held talks with State Councillor Wang Yi, in Tianjin, China. DEFENCE CHIEFS HOLD FIRST TALKS - April 20, 2022U.S. Defense Secretary Lloyd Austin held a call with China's then defence minister Wei Fenghe, the first talks between the two officials since Biden took office. BIDEN AND XI MEET IN BALI - November 14, 2022Biden and Xi held their long-awaited first face-to-face leadership talks on the sidelines of the G20 summit in Bali, Indonesia.

Persons: Janet Yellen, John Kerry, Joe Biden, BIDEN, Biden, Xi Jinping, Xi, Jake Sullivan, Yang Jiechi, Wang Yi, Katherine Tai, China's, Liu, Wendy Sherman, SULLIVAN, YANG, Sullivan, Yang, Lloyd Austin, Wei Fenghe, WANG, Wang, Nancy Pelosi, HARRIS, Kamala Harris, Gina Raimondo, Wang Wentao, National Defense Li Shangfu, Li, BLINKEN, Antony Blinken, Washington's, Martin Quin Pollard, Raju Gopalakrishnan, Kim Coghill Organizations: . Treasury, U.S, FIRST, National Security, . Trade, CHIEFS, . Defense, General Assembly, BIDEN, IN, Economic Cooperation APEC, CHINA COMMERCE, . Commerce, Commerce, Washington D.C, China's, National Defense, Pentagon, Austin, BEIJING, Thomson Locations: China, Beijing, Yellen's, U.S, Anchorage , Alaska, Blinken, CHINA, Tianjin, Taiwan, North Korea, ROME, Russia, Ukraine, New York, IN BALI, Bali , Indonesia, BANGKOK, Asia, Thailand, MUNICH, Munich, WASHINGTON, Washington, Singapore

☆ Factbox: Top US-China exchanges since Biden took office
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +5 min

Below is a list of some of the other high level U.S.-China exchanges since then. FIRST TRADE TALKS - May 26, 2021U.S. Trade Representative Katherine Tai and China's then Vice Premier Liu He held talks virtually, the first such high level trade talks between the world's two biggest economies since Biden took office. DIPLOMAT VISITS CHINA - July 26, 2021Deputy Secretary of State Wendy Sherman held talks with State Councillor Wang Yi, in Tianjin, China. DEFENCE CHIEFS HOLD FIRST TALKS - April 20, 2022U.S. Defense Secretary Lloyd Austin held a call with China's then defence minister Wei Fenghe, the first talks between the two officials since Biden took office. BIDEN AND XI MEET IN BALI - November 14, 2022Biden and Xi held their long-awaited first face-to-face leadership talks on the sidelines of the G20 summit in Bali, Indonesia.

Persons: Antony Blinken, Joe Biden, BIDEN, Biden, Xi Jinping, Xi, Jake Sullivan, Yang Jiechi, Wang Yi, Katherine Tai, China's, Liu, Wendy Sherman, SULLIVAN, YANG, Sullivan, Yang, Lloyd Austin, Wei Fenghe, WANG, Wang, Nancy Pelosi, HARRIS, Kamala Harris, Gina Raimondo, Wang Wentao, National Defense Li Shangfu, Li, Martin Quin Pollard, Raju Gopalakrishnan Organizations: U.S, FIRST, National Security, . Trade, CHIEFS, . Defense, General Assembly, BIDEN, IN, Economic Cooperation APEC, CHINA COMMERCE, . Commerce, Commerce, Washington D.C, China's, National Defense, Pentagon, Austin, Thomson Locations: China, U.S, Anchorage , Alaska, Blinken, CHINA, Tianjin, Taiwan, North Korea, ROME, Russia, Ukraine, Beijing, New York, IN BALI, Bali , Indonesia, BANGKOK, Asia, Thailand, MUNICH, Munich, WASHINGTON, Washington, Singapore

☆ China's Alibaba to break up empire into six units as Jack Ma returns home
▼ + stars: | 2023-03-29 | by ( Josh Horwitz | ) www.reuters.com time to read: +5 min

Alibaba said the biggest restructuring in its 24-year history would see it split into six units - Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group. Zhang will continue as chairman and CEO of Alibaba Group, which will follow a holding company management model, and also serve as CEO of Cloud Intelligence Group. The exception would be Taobao Tmall Commerce Group that handles China commerce businesses and will remain a wholly owned unit of Alibaba Group. Investors said the split signals the clearing of regulatory worries and allays concerns that Alibaba had lost the potential to grow. [1/2] The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021.

☆ Factbox: How Alibaba's six new business units stack up
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +4 min

The company's CEO Daniel Zhang said the business units will each be free to pursue funding and IPOs independently, which points to a possible carving out in the future. Below are the six divisions:TAOBAO TMALL COMMERCE GROUPThe Taobao Tmall Commerce Group will cover Alibaba's domestic-facing e-commerce marketplaces, which make up over two-thirds of Alibaba's total revenue. Despite the scale of Alibaba's e-commerce operations, growth in the business has slowed. Taobao Tmall Commerce Group will remain wholly owned by Alibaba Group after the restructuring, the company said, even as the other units will be free to seek fundraisings and listings. Daniel Zhang, current chairman and CEO of Alibaba Group, will serve as CEO of the Cloud Intelligence Group.

☆ Alibaba to break up empire into six units, seek IPOs
▼ + stars: | 2023-03-28 | by ( Josh Horwitz | ) www.reuters.com time to read: +3 min

The six units are Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group, it said in a statement. Daniel Zhang will continue to serve as chairman and CEO of Alibaba Group, which will follow a holding company management model, and concurrently serve as CEO of Cloud Intelligence Group. Each business group and other investments will retain the flexibility to raise outside capital and seek an initial public offering, it said, with the exception being Taobao Tmall Commerce Group that handles its China commerce businesses and will remain an Alibaba Group wholly owned unit. Each business group, he said, had to actively tackle the rapid changes in the market and each Alibaba employee had to "return to the mindset of an entrepreneur." The restructuring "does inject an element of flexibility and adaptability into the company, which currently is something of a behemoth," he added.

☆ China's online shoppers started the year cautiously, Alibaba says
▼ + stars: | 2023-02-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"From January to early February of this year, overall sales of online physical goods remained weak," Alibaba CEO Daniel Zhang said Thursday during a quarterly earnings call, according to a FactSet transcript. Alibaba's Zhang was relatively cautious in his comments about the economic recovery. Alibaba's China commerce revenue in the last three months of 2022 fell by 1% to the equivalent of $24.64 billion, accounting for 69% of total revenue. Nationwide, catering sales fell by 6.3% in 2022, while retail sales overall dropped by 0.2%, according to China's statistics bureau. The two months' data are typically combined due to variations in the timing of the Lunar New Year holiday, which doesn't follow the Gregorian calendar.

☆ Alibaba shares rally 6% after massive earnings beat
▼ + stars: | 2023-02-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Alibaba reported earnings for its fiscal third quarter that smashed expectations, sending U.S.-listed shares soaring 6% higher at 7:07 a.m. EST. Net income: 46.82 billion yuan vs 34.02 billion yuan, up 69% year-on-year. During the December quarter, China abruptly ended its strict Covid controls such as lockdowns. Revenue from Alibaba's biggest business, the China commerce division, which includes its popular marketplace Taobao, totaled 169.99 billion yuan, down by 1% year-on-year. International commerce revenue grew 18% year-on-year to 19.47 billion Chinese yuan.

☆ China tightens media control with tiny stakes in two Alibaba units
▼ + stars: | 2023-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Sopa Images | Lightrocket | Getty ImagesBEIJING — State-backed entities have taken tiny stakes in parts of two Alibaba subsidiaries that oversee a video platform and web browser. The state-backed stakes reflect a progression of government directives over the last decade to increase control of media in China. "So far most of the stakes announced (including in other Chinese companies) seem to be highly concentrated on media companies and media subsidiaries." watch nowSince 2020, business records show state-backed entities have taken 1% stakes in popular social media or short-video apps Weibo , ByteDance's Douyin and Kuaishou . A provincial state media group completed a 1% investment in September, leaving Alibaba's media arm with 99% ownership.

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