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Search resuls for: "Evelyn Cheng Jihye Lee"


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☆ Here's how much economists expect China's GDP to grow this year
  + stars: | 2023-03-02 | by ( Evelyn Cheng Jihye Lee | Evelyn Cheng | Jihye Lee | ) www.cnbc.com   time to read: +1 min
Workers make charging equipment for new energy vehicles at a workshop of Shandong Dingsheng Electric Equipment in Zaozhuang, east China's Shandong province. China's GDP grew by only 3% last year. On Sunday, the Chinese government is widely expected to announce a GDP growth target of around or above 5% for the year. "This year a likely rebound in the housing market (as well as the exit from its 'zero Covid' policy) will help China's GDP growth to improve," said Societe Generale. The bank is the most optimistic of firms surveyed by CNBC, with a GDP growth forecast of 5.8%.
☆ Alibaba's international arm is spending millions to expand into South Korea
  + stars: | 2022-11-08 | by ( Evelyn Cheng Jihye Lee | Evelyn Cheng | Jihye Lee | ) www.cnbc.com   time to read: +1 min
Alibaba's international e-commerce platform AliExpress has expanded in South Korea and Brazil, in addition to Europe. BEIJING — Alibaba 's international e-commerce business AliExpress is spending the equivalent of $7 million to reach consumers in South Korea, the unit told CNBC in an exclusive interview. AliExpress said it launched three-to-five-day shipping to South Korea last year, allowing South Korean residents to buy some products, especially in fashion, from Taobao. In all, the business unit said it spent 10 billion won this year in South Korea to lower product prices. "Although in 2020, the United States was ranked number one, other countries such as China are expanding their presence in the Korean e-commerce market," the report said, noting South Korean consumers are now buying from more than 30 countries.
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