JD.com reports Q3 revenue up 5.1% YoY to ~$36B, above $35.9B est., and net income up 48% YoY to ~$1.6B, suggesting a recovery in segments of China's economy
Claire Che / Bloomberg :
Alibaba, JD, and Xiaomi report a plethora of Singles' Day sales statistics to show how 2024's shopping event was one of the biggest yet, as China's economy sags
- Data shows sales surged, but over a much longer period — Analysts warn shoppers still show signs of moderated spending
A look at the Cyberspace Administration of China, which oversees the country's AI and data rules, as the agency relaxes some policies to promote economic growth
- CAC holds the keys to data, AI and overseas listings — Its stance is crucial to business and China's economy
Sources: Sequoia's China spin off HongShan is seeking global business opportunities and investments for its portfolio companies, as China's economy slows down
Financial Times :
A look at South Korea's position in the tech “cold war”, as the country pivots away from China's economy and prepares to comply with the US-led China chip ban
albeit untrumpeted — pivot away from the Chinese economy. My latest Big Read for the FT: https://www.ft.com/... @financialtimes : South Korea's chips and batteries are vital to Washington's and Beijin...
Chinese Premier Li Qiang met with executives from Alibaba, ByteDance, Meituan, and Xiaohongshu, pledging to reduce compliance costs as China's economy weakens
Bloomberg :
Sources: Joe Biden plans to sign an EO in the coming weeks limiting new investments by US businesses in China, focusing on chips, AI, and quantum computing
President Joe Biden aims to sign an executive order in the coming weeks that will limit investment in key parts of China's economy …
Tencent reports 2022 revenue down 1% YoY to ~$81B, the first-ever annual drop and below estimates, and Q4 revenue up 1% YoY to ~$21B, as China's economy slows
Josh Ye / Reuters :
A year after its blockbuster IPO, Alibaba trades below IPO price amid concern about its growth and China's economy
Alibaba Shares, Down 45% From Their Peak, Have Had A Wild First Year — NEW YORK (TheStreet) — Alibaba (BABA) went public on the New York Stock Exchange on September 19, 2014, to much fanfare and exc...