JD.com (JD) is stepping up its battle with Alibaba Group (BABA) for a bigger piece of the online retail market in China. China’s second largest e-commerce company on Wednesday launched a cross-border e-commerce platform that will provide a new alternative for Chinese consumers to buy authentic imported products from companies including Nike (NKE) and Starbucks (SBUX). The platform, called JD Worldwide, will allow consumers to order goods from
China e-shopping empire Alibaba Group (BABA) recently formed an automotive unit and a ‘smart living’ division as it strives to develop China’s first Internet-connected car and boost its cloud computing, hardware and Big Data operations. In March, No. 1 Chinese auto maker SAIC Motor announced that it would invest 1 billion yuan, or $160 million, in a joint venture with China e-commerce leader Alibaba to develop Web-connected cars. The move
Chinese stocks are on fire on the stock market today, and online gaming company NetEase (NTES) is trying to break out. Other Chinese Internet stocks are making notable gains, including Alibaba (BABA), JD.com (JD), Tencent (TCEHY) and Autohome (ATHM). On the Hong Kong exchange, stocks hit a seven-year high Wednesday and record trading volumes were set. Watch this video for key IBD chart analysis of NetEase, Alibaba, JD.com, Tencent and Autohome.