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13 Apr Alibaba, navigating sea change, reorients business towards bread-and-butter e-commerce and AI, pares down overhaul

Posted at 02:00h in Asia

By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory...

25 Jan China’s economy to gradually heat up in 2024, with manufacturing, spending as top growth drivers, not property: Fidelity

Posted at 23:30h in Asia

China’s economy will show gradual improvement in 2024, propelled by manufacturing and consumption, rather than property and local government financing, amid a structural shift towards high-quality growth drivers, Peiqian Liu, Asia Economist at Fidelity International, said at a media briefing on Thursday.“Tourism, entertainment, culture, and...

23 Jan China’s smartphone market recovers in 2023 amid increased competition, Huawei’s strong comeback in 5G handset segment

Posted at 12:00h in Asia

Domestic smartphone shipments totalled 289 million units last year, compared with 272 million in 2022, according to the latest report published on Monday by the China Academy of Information and Communications Technology (CAICT), a scientific research institute under the Ministry of Industry and Information Technology.That...

07 Jan China’s retail property markets to benefit from consumption recovery as Beijing tops fourth quarter performance

Posted at 23:30h in Asia

Retail property markets in China’s first-tier cities showed signs of improvement in the last quarter of 2023, and experts are projecting sustained momentum in 2024, underpinned by a gradual increase in retail sales as sentiment begins to turn.Beijing’s retail property market outperformed as commercial real...

Apple supplier Foxconn sees revenue decline in first quarter of 2024 amid weak global consumer electronics demand, sluggish iPhone sales

06 Jan Apple supplier Foxconn sees revenue decline in first quarter of 2024 amid weak global consumer electronics demand, sluggish iPhone sales

Posted at 10:03h in Asia

Foxconn Technology Group, the world’s biggest iPhone assembler, expects revenue to decline in the first quarter of 2024 amid weak global consumer electronics demand, extending a decrease in sales in the past three months. Taiwan-based Foxconn, formally known as Hon Hai Precision...

05 Jan China’s ‘king of software’, Wang Wenjing, steps down as president of enterprise management systems firm Yonyou amid mounting losses

Posted at 13:00h in Asia

Veteran Yonyou executive Chen Qiangbin, 48, takes over as company president, with a focus on operations and management, according to the company. After joining Yonyou in 2000, Chen was involved in software development, sales and then served as general manager at the firm’s branch offices...

Economic recovery Tag

25 Jan China’s economy to gradually heat up in 2024, with manufacturing, spending as top growth drivers, not property: Fidelity

23 Jan China’s smartphone market recovers in 2023 amid increased competition, Huawei’s strong comeback in 5G handset segment

07 Jan China’s retail property markets to benefit from consumption recovery as Beijing tops fourth quarter performance

06 Jan Apple supplier Foxconn sees revenue decline in first quarter of 2024 amid weak global consumer electronics demand, sluggish iPhone sales

05 Jan China’s ‘king of software’, Wang Wenjing, steps down as president of enterprise management systems firm Yonyou amid mounting losses

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