Online shopping is booming in China. And there's room for more - especially in China's rural communities. To secure that lucrative market, online giant Alibaba plans to set up 100,000 village service centers in the next five years.
Chinese e-commerce firm Alibaba already ranks alongside Amazon and Walmart as one of the world's largest retailers. Its latest announcement of a major logistics investment and takeover shows the scale of its ambitions.
Chinese largest e-commerce firm, Alibaba, has reported above-estimates quarterly earnings, saying its net profit almost doubled on the back of solid revenue growth in its core shopping business and in cloud computing.
Having tested its yellow bike fleet in the US and UK, Ofo says it's raised $700 million to help it continue expanding. Bike sharing firms face new regulation in China as branded two-wheelers flood city streets.
In the first five minutes of Singles' Day, Chinese shoppers spent more than $1 billion on e-commerce platform Alibaba, setting the stage for new records during the world's biggest sales promotion event.
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