The newly-formed department will be considered the cradle of “new growth engines.”
The murder of two passengers has exposed Didi and China’s ride-hailing industry to increased scrutiny.
Alibaba restructures business structure two months after Tencent.
Tencent stock price drop is not only about China’s crackdown on gaming.
The two recently invested companies are listed on Beijing’s NEEQ, home to many emerging internet and tech stocks.
The cloud computing sector is likely to see increased competition in the coming months.
NetEase could be restructuring to curtail further losses during the current gaming freeze.
Alibaba’s stock has dropped 30% from a record high just a few months ago.
Guo Jinyi, co-founder and senior vice president at Luckin, responded to the Alibaba-Starbucks deal by saying that traditional retail, even with the increased takeaway and mobile payments, is not necessarily new retail since the fundamental business model had not changed.