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Doug Young

Bottom line: The US decision to force a sale of gay dating app Grindr by its Chinese owner reflects a new environment where Washington is almost certain to veto China purchases of local firms with access to sensitive user information.

A new report on the unhinging of a Chinese purchase of US gay dating app Grindr is shedding some interesting light on how Washington sees such deals, and offers insight into how far Chinese tech firms might be allowed into the country going forward. The picture ...

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Doug Young

INTERNET: Loss Shakes Baidu to the Core

Doug Young 05月20日

财新传媒英文部编辑

Bottom line: Baidu's first-ever loss since going public reflects a long-anticipated decline for its core search business, which could mark the start of a longer-term decline due to lack of a strong new business lines.

It seems that profits are increasingly hard to come by these days on China's Internet. That's the major takeaway coming in the latest results from search giant Baidu (Nasdaq: BIDU), which has just posted its first loss since becoming a publicly listed company 14 years ago. Perha...

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Doug Young

E-COMMERCE: Is Amazon Leaving China, or Not?

Doug Young 04月22日

财新传媒英文部编辑

Bottom line: Amazon's withdrawal from selling domestic goods to local buyers in China was inevitable due to its lack of a standout service and cut-throat competition from Alibaba and the money-losing JD.com.

The e-commerce headlines have been buzzing these last few days with word that global giant Amazon (Nasdaq: AMZN) is abandoning China, representing the latest setback for a western Internet company in the large market. Amazon has come out with some statements clarifying the matter, in a mo...

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Doug Young

E-COMMERCE: Profit-Seeking JD.com in Overhaul Frenzy

Doug Young 04月10日

财新传媒英文部编辑

Bottom line: A steady stream of layoff and cost-cutting reports around JD.com appear to show it's trying to sharpen its operations to achieve sustained profits starting in the second half of this year. 

What's up with e-commerce giant JD.com (Nasdaq: JD)? That seems to be the question of the moment, amid a recent series of nonstop reports of shakeup at China's perennial No. 2 in the e-commerce world. The company was stuck under a cloud for much of the second half of last year as its founder, ...

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Doug Young

MEDIA: Qutoutiao in Fund-Raising Frenzy

Doug Young 04月04日

财新传媒英文部编辑

Bottom line: Qutoutiao's recent flurry of fund-raising, including a major  loan from Alibaba, underscores rising confidence in the news aggregator after its lackluster IPO last year.

News aggregator Qutoutiao (Nasdaq: QTT) is making up for lost time following its lackluster IPO last fall that raised far less than its original target. The company has just announced a new share sale that will generate about $30 million in cash, just days after raising another $171 million from e-commerce giant ...

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Doug Young

Bottom line: China's drive to boost imports will benefit the nation's big e-commerce companies with cross-border trade capabilities, though such purchasing will still be a small fraction of their overall volume.

It may be election day in the US, but here in China the focus is decidedly on imports with the staging this week of a massive import-focused expo in Shanghai. This particular event, officially called the China International Import Expo, has big political overtones, which I've looked a...

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Doug Young

Bottom line: Alibaba's vague road map in its latest chairman and CEO annual shareholder letter is too far off to be meaningful, but does chart its aspirations to change from its current form to something more like an IT services company.

Alibaba (NYSE: BABA) founder Jack Ma and his heir apparent Daniel Zhang have just laid out their vision for the e-commerce giant in their latest annual letter to shareholders, and I have to say it's at once very grand while also being quite short on detail. T...

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Doug Young

Bottom line: New listing plans by used car platform operator Uxin, EV battery maker Amperex and medical device maker Mindray should all do well, driven by strong growth potential and their leading positions in China.

The latest IPO season for Chinese firms is kicking into high gear on both sides of the Pacific, with announcement of several hot new offerings that each has a slightly different story to tell. At the head of the class is a new listing for used car platform operator Uxin, which is...

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Doug Young

Bottom line: Alibaba's purchase of Ele.me and Tencent-backed Meituan's purchase of Mobike underscore the growing rivalry between Alibaba and Tencent, as each uses its deep pockets to try and dominate money-losing emerging sectors.

Trade wars are making all the big headlines these days in US-China news, forcing a couple of mega-mergers that would normally be front-page news into the back pages. Each of the latest deals is quite significant for China's Internet, as both quietly underscore the i...

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Doug Young

STOCKS: Lenovo, China Telecom Mull CDR Homecomings

Doug Young 03月30日

财新传媒英文部编辑

Bottom line:  Hong Kong-listed "Red chip" stocks like Lenovo and China Telecom could eventually make secondary listings in China under a new CDR program, but will be forced to wait behind higher-profile Internet names like Alibaba.

With all of the major IPOs for the week now in the history books, as most of the world takes a vacation for Good Friday, I thought I'd close out the week here in China with yet another angle on the China Depositary Receipt (CDR) program that is creating lots of buz...

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Doug Young

IPOs: iQiyi, Bilibili Juice Up Fund-Raising Targets

Doug Young 03月19日

财新传媒英文部编辑

Bottom line: iQiyi and Bilibili should price near the top of their higher IPO price ranges, as each benefits from strong investor sentiment fueled by their unique offerings and a potential new plan to concurrently list their shares in China. 

Anyone who was worried that a regulatory crackdown on fintechs late last year might dampen broader enthusiasm for Chinese stocks can relax. That's my key takeaway from the latest headlines, which show that two non-fintech Internet firms are experiencing ...

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Doug Young

INTERNET: Baidu Rejigs Maps in Face of Competition

Doug Young 03月15日

财新传媒英文部编辑

Bottom line: Baidu's reorganization of its mapping unit reflects growing competition in the space, and could ultimately end in a shuttering of the service if its usage continues to decline. 

The wheels of restlessness at online search leader Baidu (Nasdaq: BIDU) are grinding into motion once more, with word that the company has made a major shift in its popular mapping division. Company watchers will know the restlessness to which I refer is a direct reference to Baidu's founder Robin Li, who...

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Doug Young

Bottom line: A new plan allowing offshore listed Chinese firms like Alibaba and Tencent to make secondary listings at home appears to have momentum and could stand a better than 50 percent chance of success.

A mix of politics and business is in the air this week, as the annual National People's Congress takes place in Beijing, including a concurrent gathering of business leaders who advise the nation's legislature. Those leaders include most of the country's leading high-tech CEOs, who are al...

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Doug Young

Bottom line: Alibaba's potential purchase of Ele.me could be the biggest piece yet in its pursuit of a "new retail" model, but could result in a case of indigestion as it tries to make the company profitable.

When it comes to acquisitions, e-commerce giant Alibaba (NYSE: BABA) seems to have an insatiable appetite these days. After investing some 80 billion yuan ($12.7 billion) in brick-and-mortar retailing over the last couple of years, the company is now setting its eyes on take-out dining s...

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Doug Young

Bottom line: Alibaba's purchase of 33 percent of Ant Financial looks like a shrewd move for both firms, making Ant more attractive in the run-up to an IPO likely to be one of the world's biggest this year.

Alibaba and Ant back together

In what looks like a homecoming of sorts, e-commerce giant Alibaba (NYSE: BABA) has just announced it is taking back a major stake in its Ant Financial affiliate. Followers of this pair will know they have quite a long and complex relation...

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Doug Young

INTERNET: Toutiao Sues Baidu Over Search Abuse

Doug Young 01月31日

财新传媒英文部编辑

Bottom line: Baidu's anti-competitive behavior alleged in a lawsuit by Jinri Toutiao won't have a long-term effect on its stock, but will draw the attention of an increasingly assertive anti-trust regulator.

Toutiao sues Baidu for manipulating search results

A humorous war of words has broken out between search leader Baidu (Nasdaq: BIDU) and news aggregating app Jinri Toutiao, also sometimes called Today's Headlines, over unfair competition in the form of search manipul...

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Doug Young

Global is great. Anyone who follows the China business scene probably wouldn’t need too long to guess those words were uttered by Alibaba founder Jack Ma, who was singing the praises of free trade and globalism on the second day of the World Economic Forum this week in Davos, Switzerland. Ma never saw a platform he didn’t like, including the e-commerce platforms that have made him one of the world’s richest men, as well as more figurative platforms like the World Economic Forum.

Ma’s gro...

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Doug Young

Bottom line: The inclusion of Alibaba's Taobao marketplace on the latest edition of a US blacklist for piracy signals US is taking a tougher line on trade issues.

Alibaba calls itself 'scapegoat' after landing on US blacklist

What a difference a year makes. It was just about this time a year ago that Alibaba (NYSE: BABA) founder Jack Ma scored a major coup by becoming the first major Chinese business leader to score a visit with incoming US President Donald Trump. (previ...

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Doug Young

FINANCE: US Squashes Ant Financial's MoneyGram Dream

Doug Young 01月03日

财新传媒英文部编辑

Bottom line: The collapse of Ant Financial's purchase of MoneyGram reflects growing resistance from a Trump administration willing to mix business and politics in its relationship with China.

Ant's purchase of MoneyGram sinks

In yet the latest sign that the Donald Trump administration intends to take a hard line towards Chinese M&A, Washington has killed a $1.2 billion deal that would have seen Alibaba-affiliated (NYSE: BABA) Ant Financial purchase US money-transfer spec...

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Doug Young

Bottom line: Alibaba's plan to roll out 2,000 of its high-tech Hema grocery stores looks overly aggressive but typical for the company, and could prove costly if the concept fails to catch on.

Alibaba has big plans for Hema

E-commerce giant Alibaba (NYSE: BABA) is pretty much a carbon copy of its founder Jack Ma when it comes to standing still, in that the concept is completely foreign to both. I've been critical of the company in the past for getting into too many thing...

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