Alibaba founder Jack Ma is planning to venture into the publishing sector as news circulated that the e-commerce tycoon will be buying some stake in Hong Kong's South China Morning Post.
Chinese e-commerce major Alibaba Group is planning to make yet another investment plan for the media segment. The Chinese media reports reveal that Alibaba may acquire SCMP Group, which runs China Daily.
More than 40% of goods sold on the Internet in China are fakes or shoddy, according to a report by an official of the standing committee of the National People's Congress, the country's top law-making body.
The Chinese government arrested some people and fined Internet giant Sina.com for publishing and distributing pornographic content on its website as part of China's "Cleaning the Web" campaign which is held every year.
Sina Weibo, the China-based microblogging and social media site, has filed its IPO prospectus with the US Securities and Exchange Commission to raise as much as $500 million in its planned US debut, TechCrunch reported.
As they open their first Old Navy store in China, Gap Inc will be increasing its efforts to promote their brand online so it can capitalize on the country's fast-growing e-commerce sector, Reuters reported.
Alipay, an online payment affiliate of Alibaba Group Holdings Ltd., has struck a deal with Sina Corp. to launch and online payment service as competition rises between Alibaba and rival Tencent Holdings Ltd. Alibaba last year bought an 18% stake in Sina Weibo.