E-commerce

This inclusion means billions of capital from passive funds tracking these indexes managed around the world will flow to these Chinese new economy shares.

Chinese e-commerce giant JD.com has bought a 100 percent stake in a landmark hotel located in Beijing’s Zhongguancun region, also known as China’s “Silicon Valley ” at RMB 2.68 billion (US

Chairman Zhang Jindong said on the event that this is a key move in 2019 for the company to lay out its online-and-offline presence.

A Forrester report estimates that Southeast Asia’s e-commerce market will grow to $53b in five years.

The company’s growth has been costly, but more aggressive expansions are in the works.

After the deal, the Beijing-based startup will be valued at US$8.5 billion, multiple times higher than its rival Uxin, which is listed on NASDAQ and had a market capitalization of about US$1 billion a

Fosun and Ant Financial’s parent, Alibaba, have also invested in Babytree Group, China’s leading online parenting firm.

The firm is also planning to launch in one more city outside of Singapore in the second half of the year