As China continues to race towards a cashless society with mobile payments, its tech giants are playing an important role in shaping the future of consumer credit – especially in a country where only about a third of the population has a credit history. Yesterday, Tencent launched its own credit system, Tencent Credit, to all … More Tencent launches its own credit system
The Chinese Foreign Ministry has re-iterated its firm stance on the joint promotion procedure surrounding Regional Comprehensive Economic Partnership (RCEP) negotiations. Once accomplished, the RCEP become a 16-state free trade zone covering a population of 3.5 billion people – approximately 39 percent of the world’s population – and a combined Gross Domestic Product (GDP) of … More China reiterates support for RCEP trade talks
Newly minted millionaires often purchase storied luxury brands as a way of expressing their arrival among a wealthy global establishment. This is especially true in China, where all money is, to some extent, new money. However, a recent report by Agility Research & Strategy suggests the best way to capture the attention of luxury millennial … More For Chinese Millennials, Tech Trumps Heritage: Agility Research
Things are about to get easier for Chinese travelers looking to enjoy tax refund services in Singapore. One of the main tax refund companies operating in the country is rolling out instant tax refund services processed through Alipay in a move that is likely to make tax refund easier than ever for Chinese tourists visiting … More Global Tax Free Rolls Out Instant Tax Refund Through Alipay in Singapore
The cloud computing arm of Alibaba Group, Alibaba Cloud, today announced the launch of its Malaysia City Brain initiative, the first of its kind to be adopted overseas. This will be done in a joint effort with the Malaysia Digital Economy Corporation (MDEC), the country’s digital economy development agency, and Dewan Bandaraya Kuala Lumpur (DBKL), … More Alibaba Cloud launches Malaysia City Brain
LVMH CEO Bernard Arnault is still concerned that a heavy presence online will damage the reputations of the luxury brands in the group’s portfolio, and that’s shaping how the conglomerate’s digital strategy plays out globally. “We plan to continue investing in digital technology in 2018, but we need to be prudent there, so as not … More LVMH CEO still doesn’t trust that online retail won’t damage luxury brands
Didi is becoming big in big data and, according to latest announcements, their new project is set to change how cities look at mobility. The Chinese ride-hailing giant has just launched the “Didi Smart Transportation Brain,” a solution that brings data from government and other partners to develop a city traffic management powered by AI … More Didi is using its new AI Brain to crack the toughest puzzle—our cities
Now more than ever, luxury brands are making WeChat a priority. According to a recent Bain study, all 40 of the top brands surveyed had an official WeChat account. But are they doing everything they can with the tools they have? When it comes to WeChat-led omnichannel strategies, there’s some catching up to do in … More Luxury Brands Underestimate WeChat’s Importance Offline
Walmart today announced a major expansion in terms of its global e-commerce presence: the retailer is entering a strategic partnership with Tokyo-based Rakuten, which will see the companies collaborating on the launch of a new online grocery service in Japan, and the sale of e-readers, audiobooks and e-books in the U.S., via Rakuten-owned Kobo. The … More Walmart and Rakuten partner on grocery delivery in Japan, Kobo e-books and audiobooks in U.S.
On January 15, a public hearing took place in the southern Chinese metropolis of Shenzhen. Instead of having to jump through the usual bureaucratic hoops, participants dialed in virtually – via China’s most popular social app, WeChat. In the past, they would have to submit a signup form via email or in person, wait a … More China leans on Alibaba and Tencent to digitize public services
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