Tag: Chinas

Tencent bets China’s shopping malls can be fashionable again as it leads $5.4 billion Wanda deal

China’s top think tank predicted in 2016 that one in three of the country’s estimated 4,000 shopping malls would close within five years as consumer spending shifted online and millennials prefer swiping through websites than ruffling through clothes racks. Tencent Holdings, together with JD.com, Suning Commerce and Sunac China, is out to prove the forecast wrong, …

China’s village people fast to adopt mobile payments

With the growth of popular mobile payment services, consumers and businesses in hundreds of thousands of villages across China are embracing a new era of convenient, cashless transactions. For orange orchard owner Fang Zhi, who lives in a small village about 200 kilometres away from the central Chinese city of Wuhan, mobile payments have swiftly moved …

How online shopping minted Tonglu’s billionaires and made it China’s happiest county

Tonglu in China’s eastern coastal province of Zhejiang has achieved the distinction of being the country’s “happiest” county for three consecutive years from 2015. The ranking by the China Institute of City Competitiveness had coincided with the exponential surge in e-commerce activity across the country, which created huge demand for express parcel delivery and logistics companies …

The Post launches Abacus, a news site that focuses on telling the story of China’s tech industry

Abacus, a news brand that covers the latest trends in China’s technology industry, launched today in New York City, where the occasion was marked by the ringing of Friday’s opening bell at the New York Stock Exchange. “Gone are the days when every Chinese trend had a Western counterpart,” said Abacus executive producer Ravi Hiranand. “That’s …

Ant Financial to issue China’s first security backed by loans to online retailers

Ant Financial Services Group, operator of online payments service Alipay, has received regulatory approval to launch China’s first traded security backed by loans to online retailers, opening up a new financing channel for the e-commerce industry. A subsidiary of Ant Financial will launch 2 billion yuan (US$317.4 million) worth of the asset-backed securities (ABS) on the …