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HONG KONG (Bloomberg): HSBC Holdings Plc, which operates the largest franchise among global banks in China, named Mark Yunfeng Wang as president and chief executive officer of its China business as the UK lender reaffirms the commitment to the world’s biggest banking market.
Alibaba Group has agreed to buy e-commerce business Kaola from Chinese gaming company NetEase for US$2bil, adding a platform that specializes in supplying curated luxury goods from abroad to domestic consumers.
Home sharing site plans to introduce face scanning for check in at 80% of its listings in southwest China’s Chengdu city.
Chinese short-term rental firm Xiaozhu.com said on Oct 10 it has raised nearly US$300mil in a funding round led by Jack Ma's Yunfeng Capital, amid fierce competition from US giant Airbnb Inc and local rival Tujia.com.
Alibaba Group plans to merge its food delivery units and raise funds for the combined business, intensifying a battle with Tencent-backed Meituan Dianping for dominance of China's booming on-demand services market.
HONG KONG: Full Truck Alliance Group, China’s biggest app for Uber-like truck services, raised US$1.9bil in funding to fuel its expansion, a source said.
JAPAN’s SoftBank Group Corp. is looking to invest US$1bil in a Chinese truck-hailing company backed by internet giant Tencent Holdings Ltd and a private-equity firm co-founded by billionaire Jack Ma, according to people familiar with the matter.
Although the Chinese government has given its blessing to development of the sharing economy, home sharing remains a grey area due to identify verification
Woman, 83, said she was too ill to care for son who could neither walk nor talk, but wouldn’t burden other family members