Alibaba Group Holding Ltd’s (NYSE:BABA) 618 shopping festival shows strong momentum, according to preliminary data from Taobao and Tmall platforms. As of May 31, 185 brands, including Apple Inc (NASDAQ:AAPL), Xiaomi Corp (OTC:XIACF) (OTC:XIACY), and Huawei Technologies Co, each achieved over 100 million yuan in gross merchandise value, SCMP reports. Additionally, 37,000 brands doubled their sales compared to last year. Also Read: Alibaba and Coupang Intensify E-Commerce Battle with Major Investm
Alibaba could join the Stock Connect cross-border trading mechanism as early as September 9, after its dual-primary shares listing in Hong Kong is completed, according to Morgan Stanley. The overall impact on the market is expected to be limited, however, after an initial influx of money from mainland investors, they said. Up to US$12 billion of investment from mainlanders is likely in the first six months after the e-commerce giant joins the Stock Connect scheme, which would bring their ownersh
Alibaba Group Holding's sales campaign for this year's 618 shopping festival is seeing strong momentum, according to preliminary data from the firm's Taobao and Tmall platforms, helping boost the Chinese e-commerce giant's prospects of returning to double-digit revenue growth by 2027. About 185 brands - including major smartphone vendors Apple, Xiaomi and Huawei Technologies - have each achieved more than 100 million yuan (US$13.8 million) in gross merchandise value, while 37,000 other brands do