China’s annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. This year, it’s taking on new meaning as a showcase for the country’s success in battling the Covid-19 pandemic. The event already appears to be […]
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Alibaba is spending more than $3 billion to dominate online groceries in China
Alibaba is spending 28 billion Hong Kong dollars ($3.6 billion) to up its stake in Sun Art Retail Group from 36% to 72%, the company said in a statement Monday. The company will then make a general offer to shareholders to buy out the rest of the the retail company. […]