Tag: China

Who is Richard Liu? Chinese billionaire seeks to raise profile as JD.com expands outside China

Richard, who?  Richard Liu Qiangdong may have built JD.com into China’s second-biggest e-commerce company and amassed an estimated wealth of US$11.6 billion, but he remains a relative unknown outside his home country. With recent investments into Southeast Asia and eventual plans to expand into Europe, the 43-year-old made his first appearance at the World Economic Forum in …

Here are the three sectors in China with the most billionaires … and e-commerce is not one of them

Two of the three richest people in China may have been from the internet and e-commerce space in 2017, but the top three sectors by the number of billionaires are biotechnology, property, and semiconductor and electronics manufacturing, according to a survey released on Monday. Pony Ma Huateng, founder and chief executive of the US$500 billion Chinese …

Alibaba unveils Olympics campaign in first corporate ad push outside China

Chinese e-commerce company Alibaba Group Holding is debuting a global marketing campaign outside China for the first time, the company said on Monday, with the release of Olympic advertisements focusing on underdog stories in countries such as the United States, Britain, South Korea and Japan. The international advertising push, which includes videos featuring the Kenyan ice …

China UnionPay rolls out cash incentives on integrated payment app, ramping up battle with Alibaba and Tencent

China UnionPay is ramping up the marketing on its recently released integrated mobile app, in an attempt to make inroads into a sector dominated by third-party payment services backed by Alibaba Group Holding and Tencent Holdings. Under a promotional campaign that winds down on March 2, participants who download and use the QuickPass app to transfer …

China pulls further ahead of US in mobile payments with record US$12.8 trillion in transactions 

Mobile payment transactions in China reached a record 81 trillion yuan (US$12.8 trillion) from January to October last year, driven by the vast number of consumers across the country who have looked beyond credit cards to more convenient, cashless systems. The 10-month total surpassed the 58.8 trillion yuan in mobile payment transactions on the mainland during …