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.
China's largest e-commerce platform plans to take a major stake in one of the country's top food sellers, Sun Art Retail Group, as it's investing heavily in connecting its online and offline portfolio of businesses.
Ant Financial, an affiliate of Chinese e-commerce group Alibaba, has abandoned a merger with MoneyGram after it failed to allay concerns by the US government that the deal posed no risk to America's national security.
Chinese consumers have opened their virtual purses wide in the world's biggest e-commerce binge. The amount spent tops the combined sales for Black Friday and Cyber Monday in the US.
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.
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