US offers boost to HKSAR in financial war with China: analysts
The mainland-based internet giant NetEase, which has been listed on the NASDAQ since 2000, sounded the bell in the Hong Kong Stock Exchange with a secondary offering on Thursday. Photo: XinhuaTop US officials have threatened to impose sanctions on the Hong Kong Special Administrative Region (HKSAR) if China implements the National Security Law in the city, but by wading into a new battleground in its trade and economic war with Beijing,Washington might have actually boosted Hong Kong's status as a global financial center, Chinese analysts said on Thursday.Underincreasing political pressure fro...
Alibaba buys NetEase's import e-commerce unit for $2bn
Shanghai (AFP) - Alibaba Group has bought the e-commerce platform of NetEase for about $2 billion and will participate in a $700 million investment in NetEase's music streaming service, the two Chinese firms said on Friday.The move will see e-commerce titan Alibaba take control of Kaola, one of China's top online shopping platforms for foreign brands.The two US-listed internet giants said Kaola would continue to operate independently under its current brand but Alvin Liu, an executive with Alibaba's Tmall platform, would take over as chief executive.Alibaba and NetEase also have reached an agr...