Alibaba Group Holding and other e-commerce operators have released encouraging early sales data from their midyear 618 promotions - China's biggest shopping season after Singles' Day, and a bellwether of consumer sentiment in the world's second-largest economy. Four hours after Alibaba's Taobao and Tmall shopping platforms launched their sales event at 8pm on Monday, 59 brands each saw their gross merchandise value (GMV) - the value of goods sold - surpass 100 million yuan (US$13.8 million), whi
China's AI providers are slashing prices after TikTok-owned ByteDance unveiled new AI models that it claimed cost 99% less than the competition.
Alibaba's (BABA) Taobao and Tmall Group partners with Douyin, bolstering its presence in the China e-commerce market.