China’s Alibaba launches ecommerce subsidies of $7 billion in consumption boost

Share via:



The online retail platform of Chinese tech giant Alibaba announced Wednesday that it will issue $7 billion in subsidies for certain purchases, providing a much-needed boost for a country struggling with sluggish spending.

Taobao, China’s e-commerce champion launched by Alibaba in 2003, said in a WeChat statement that the 50 billion yuan ($6.97 billion) would “directly subsidise consumers and merchants” over a 12-month period starting Wednesday.

The spending incentives on Taobao’s “flash purchase” feature will take the form of “red envelopes” — a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

China’s Alibaba launches ecommerce subsidies of $7 billion in consumption boost



The online retail platform of Chinese tech giant Alibaba announced Wednesday that it will issue $7 billion in subsidies for certain purchases, providing a much-needed boost for a country struggling with sluggish spending.

Taobao, China’s e-commerce champion launched by Alibaba in 2003, said in a WeChat statement that the 50 billion yuan ($6.97 billion) would “directly subsidise consumers and merchants” over a 12-month period starting Wednesday.

The spending incentives on Taobao’s “flash purchase” feature will take the form of “red envelopes” — a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Why Google Gemini’s New Walmart Deal Puts Pressure on...

Google Gemini has secured a new partnership with Walmart,...

CES 2026: Everything Revealed — From Nvidia’s AI Power...

CES 2026 wrapped up with sweeping announcements from Nvidia,...

Popular

iptv iptv iptv