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Watch out guys. https://www.reuters.com/markets/deals/alibaba-splits-into-six-units-that-may-pursue-individual-ipos-bloomberg-news-2023-03-28/#:~:text=The six units will include,Digital Media and Entertainment Group. CNBC has more detail of the 6 units. https://www.cnbc.com/2023/03/28/alibaba-says-it-will-split-into-6-units-that-can-raise-funds-and-ipo.html

Lazada appoints its 3rd CEO in 3 years source: https://www.asiaone.com/digital/lazada-appoints-its-3rd-ceo-3-years SINGAPORE - Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. The change was made after a middling performance from the e-commerce firm, two sources with knowledge of the matter told Reuters, declining to be identified as they were not authorised to speak to media. A Lazada spokesman said there was "no truth to this statement" and the company rejected what it called an unsubstantiated assessment of its performance. Singapore-based Shopee, which is backed by Tencent Holdings, was the most downloaded e-commerce app and the most used in Southeast Asia as of end-2019, knocking Lazada to second place, according to research firm iPrice. Shopee's website also attracts more visitors than Lazada's, iPrice said. Lazada has disputed those findings without providing details. Li will work to improve Lazada's performance through data technology application and business localisation, the company said. "We introduce change to strengthen our leadership in support of our business strategy", the spokesman said. Alibaba has had struggles in managing Lazada and sources have highlighted a long-running culture clash with management from China and heavy executive turnover in recent years. Poignant himself replaced Lucy Peng who stepped down as CEO after nine months in 2018 although she remains executive chairwoman. Lazada said Poignant will now become special assistant to Alibaba Group CEO Daniel Zhang. Three sources also told Reuters Lazada is examining whether to rebrand or shut down LazMall, its take on Alibaba's Tmall marketplace where companies set up virtual shops. The Lazada spokesman said this was incorrect and LazMall was an important business for the company. E-commerce in Southeast Asia was worth $38 billion last year and is expected to grow rapidly, according to a study by Google, Temasek and Bain & Company.

Alipay launches international e-wallet, giving foreigners access to mobile payment platform in first for China source: https://www.scmp.com/business/article/3036366/alipay-launches-international-e-wallet-giving-foreigners-access-electronic TL;DR Ant Financial unveils a 90-day ‘tour pass’ programme for short-term visitors to pay for online purchases through its Alipay platform China received 30.5m international tourists in 2018 who spent US$73.1 billion from lodging to shopping and food, Ant Financial say Without a Chinese bank account and a local mobile phone line, foreigners have found it difficult, if not impossible, to find any smartphone app to pay for online purchases in China. That hurdle will be now removed under a pioneering effort by Alipay. Ant Financial Services Group, which operates one of China’s two dominant e-payment platforms, will give foreign visitors to the mainland access to its mobile payment platform from Tuesday, according to a statement. It will allow visitors up to 90 days’ usage of its smartphone application without requiring a local bank account or mobile phone number, it added. Ant Financial is an associate of Alibaba Group Holding, which in turn is the owner of The South China Morning Post. Under the programme called ‘Tour Pass’, the company will introduce an international version of its Alipay app for download and registration using their international phone numbers. The app will enable visitors to pay for their transactions using a 90-day prepaid card from the Bank of Shanghai. The move will open the door for Ant Financial to extend its dominance in the home market and tap into growing tourism in the world’s second-largest economy. China received 30.5 million of foreign visitors in 2018, an increase of 4.7 per cent from the previous year. They spent about US$73.1 billion in lodging, food, shopping, among others, Ant Financial estimates. The international version of the Alipay app is not being made available for Hong Kong and Macau mobile phone users, Ant Financial said. There is a mobile payment solution called Alipay HK for Hong Kong users, which is different from the mainland version. To gain access to China’s mobile payment services, Hong Kong residents can open a Chinese bank account through Bank of China (Hong Kong), one of the city’s three currency issuers, without having to do so onshore. Ant Financial said the 90-day prepaid card can be reloaded using their international debit or credit cards. The minimum top-up is 100 yuan, with the balance capped at 2,000 yuan. Users can top up “multiple times” and Alipay has set an undisclosed but “reasonable” ceiling, it said. Alipay competes with Tencent Holdings’ WeChat Pay for dominance in China’s cashless economy. Both operators have more than 90 per cent penetration rate among internet users, according to a 2018 report on China’s third-party mobile payments market by research firm Ipsos. Alipay, together with its local e-wallet partners across Asia, serves more than 1.2 billion users on its platform, according to its statement.

Helping retailer to move their business online ? i think it will create jobs in different area such as graphic design, photographer, web design, PR & marketing, and no more salesgirls and promoter in retail shops.

looks like big chunk of the money is flowing through alibaba's alipay, so much until the central govt felt threatened?

https://www.engadget.com/2016/07/06/alibaba-smart-car-iot-pre-order/

Yu’e Bao (余额宝) is an investment product offered through the Chinese e-commerce giant Alibaba Group Holding Ltd.'s third-party payment affiliate, Alipay.com Co. Alipay began offering Yu’e Bao, which means “leftover treasure,” last June. Alipay users can put their money into the product, which invests in funds. There is no minimum amount, and customers can withdraw their cash anytime. Yu’e Bao funds are managed by Tianhong Asset Management Co. This seem more acceptable than the bitcoin. . . https://financeprod.alipay.com/fund/index.htm