Taobao

Jack Ma will cede control of Chinese fintech giant Ant Group, the company has announced, following a Communist Party crackdown on the nation's tech sector that targeted the charismatic billionaire.    

Visitors to China can now access the country's massive cashless economy, CNN reported. They will now be able to use mobile payments in mainland China, the largest company in the Alipay sector, owned by giant Alibaba, said on Tuesday.

China's online giant Alibaba can acquire part of the German Metro trade chain operations on the Chinese market. This is what unnamed sources of Reuters say.

A Chinese court has offered an unfinished 39-story building at an initial auction of 553 million yuan (71 million euros) online at an auction today, the France press reported.

The 156-meter building, with a total area of ​​76,000 square meters, is located in Taiyuan, in the northern province of Shanxi.

President-elect Donald Trump said he had a “great meeting” with Alibaba executive chairman Jack Ma on Monday, when they discussed 1 million new U.S. jobs.

Ma said that Alibaba’s expansion would focus on products like garments, wine and fruits, with a special focus on trade between the American midwest and southeast Asia.

Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement August 10.