China will increase support for cross-border e-commerce as the world's second-largest economy shifts from manufacturing to higher-value services, the government said.
Asia/Pacific
China-backed multilateral bank to take concrete shape this week
One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.
India's IndiGo to file prospectus for $400 million float next week: sources
India's biggest airline IndiGo is set to file a prospectus next week for a domestic stock market listing, which is expected to raise as much as $400 million, according to three sources with knowledge of the matter.
China central bank eases policy again to support economy
China's central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century.
Alibaba affiliate launches Internet bank for SMEs, 'little guys'
Alibaba Group Holding Ltd's financial affiliate launched on Thursday Internet bank MYbank, targeting the small- and medium-sized Chinese enterprises that have struggled to obtain credit from major financial institutions.
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Prices of many foodstuffs are surging in India, despite a good start to monsoon rains - an unexpected boon for wholesalers, but a major headache for the central bank and a government hoping for its help to reboot the economy.
India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins, and reduce bullion imports that can push up the trade deficit.
Bank of Japan Governor Haruhiko Kuroda said the yen's current weakness was not inflicting severe pain on the economy, toning down an earlier warning to markets against pushing the currency too far down.
Asian shares rose for a third consecutive day on Friday even as China stocks tumbled into correction territory, while the Federal Reserve's cautious stance towards lifting interest rates kept the dollar on the back foot.
China's Ant Financial Services Group, e-commerce giant Alibaba Group Holding Ltd's (BABA.N) internet finance affiliate, closed a private placement valuing the unit at about $45 billion, a person familiar with the matter said Thursday.
Japan's export growth slowed for a second straight month in May, with weak external demand now threatening to erode economic growth in the current quarter.
India's largest online grocer BigBasket, which is based in Bengaluru, is opening new warehouses in five major cities and in smaller towns in a move to expand its logistics network so as to counter the threat from hyperlocal startups offering speedy deliveries.
A year on from the start of one of the biggest oil price crashes in history, the driving force behind the slide remains intact: there is still too much crude.
Last week, Asustek Computer Inc (Asus) chairman Johnny Shih in an internal company meeting had suggested that it may be a possibility to buy Taiwan-based smartphones and tablets manufacturer, HTC. However, HTC came out with its own statement on Monday, saying it will not consider a merger with Asus and also pointed out that no formal or informal talks had ever taken place in connection with the said acquisition.
