Ding Yining

Business Reporter

Shanghai shares retreat for the third consecutive week

Shanghai stocks closed down today with sentiment dampened by S&P's downgrading of China's sovereign credit rating by one notch.

Tencent Cloud inks deals to boost 'smart city' strategy

The agreement with China Mobile Group, Wonders Information and Shenzhen Holpe Commercial Chain Stock aims to help companies and government agencies utilize smart technology.

Property developers and raw material firms pull Shanghai shares lower

But financial shares gained following the US Fed's signal of  one more rate hike later this year

Internet giants and delivery services prepare for huge Singles Day

Internet giants are gearing up for the Singles Day shopping spree in November, and they’re beefing up efforts in the logistics sector to ensure smooth delivery

Alibaba to invest 500 million yuan into Damai

Alibaba’s digital media and entertainment business group said it seeks to invest 500 million yuan (US$76 million) in Damai.cn over the next two years.

A fruitful day for Shanghai Mayor and his IBLAC friends

Members of the International Business Leaders’ Advisory Council put forward valuable advice and suggestions as Shanghai sets a goal to become a global city of excellence.

Ant's Zhima teams with Jiaotong University on credit system for students

Zhima Credit, a unit of Alibaba's Ant Financial Services, is working with the university to help students with waivers on deposits for a range of services.

JD ventures into southeast Asian markets

JD.com and its financial affiliate JD Finance said it would set up joint ventures with a total investment of US$500 million to expand into southeast Asian markets.

Ant Financial to help small logistics firms

Alibaba’s financial affiliate Ant Financial yesterday said it would provide 200 million yuan (US$30.5 million) of subsidies to small and medium-sized logistics firms.

Luxury spending continues to rise as younger consumers' spending grows

Luxury outlet operator Value Retail's chief executive officer Desirée Bollier said the company plans to start their next phase of expansion early next year.