Welcome! Friday - Oct 19, 2018

Alibaba’s Alipay Turns to Faces, Fingerprints for Security, Costco Enters China via Tmall Global


China Ecommerce Weekly Breif-Obserevre Intelligence

THE WALL STREET JOURNAL

Alibaba’s Alipay Turns to Faces, Fingerprints for Security

Tencent has led an investment of more than $100 million in a Chinese health care platform, the latest move by the Internet conglomerate to expand its user base through online medical services as it competes against Alibaba. The medical platform, Guahao.com, announced the round of funding Monday on its website, saying it would be collaborating further with Tencent in Internet-based health services. No precise figure for Tencent’s portion of the funding was provided by either company.

 

REUTERS

Costco Enters Chinese Market via Alibaba’s Tmall Global

U.S. retailer Costco Wholesale Corp plans to open an online store in China using Alibaba Group Holding Ltd’s fast-growing Tmall online marketplace, entering the country’s booming e-commerce market to combat slowing sales at home.

 

 

THE WALL STREET JOURNAL

Tencent Leads Financing for Chinese Healthcare Website Guahao

As more and more Chinese pay for things over their smartphones, one big question is how to protect users from fraud, hacking, identify theft and other threats.To bolster security of mobile payments, Alibaba’s Alipay is focusing on technologies that use biological features — like fingerprints and faces — to identify users.

 

 

JING DAILY

China Luxury Spending To Decline 1 Percent In 2014 (And Why Brands Shouldn’t Panic)

China’s ongoing luxury slowdown has caused growth to move from the black to the red, according to a new report by Bain & Company and Altagamma. Luxury companies shouldn’t develop too much anxiety over the forecast, however, since Chinese consumers are still spending—they’re just doing it overseas. According to the report, these “accessible” luxury brands like Coach are a bright spot in China’s lackluster domestic market thanks to growing upper middle class spending—a segment that is supposed to double by 2017.

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