Alibaba's Latest Offering Amid China's Renewed Tech Crackdown

  • Alibaba Group Holding Ltd BABA launched a new Alibaba.com Dropshipping Solutions alongside new platform tools and a grants program totaling $500,000 in awards.
  • It aims to support existing e-commerce businesses and the rise of "New Digital Entrepreneurs" by the initiative.
  • These "New Digital Entrepreneurs" are building digital businesses enabled by new online infrastructure to operate their B2C e-commerce stores on platforms like Shopify Inc SHOP or as third-party sellers on retail e-commerce sites like Amazon.com Inc AMZN.
  • Over the last year, transactions involving U.S. businesses on Alibaba.com were up by over 150%.
  • Alibaba recently pledged a whopping $15.5 billion for small-and medium-sized enterprises and improving insurance protection for gig economy workers amid the growing domestic tech crackdown.
  • Price Action: BABA shares traded lower by 1.94% at $167.40 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsMoversTechTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!