China's online shoppers started the year cautiously, Alibaba says
Publishing timestamp: 2023-02-24 00:46:55
Summary
Alibaba CEO Daniel Zhang said that online sales remained weak through early February, but some categories started to see recovery this month. Despite the rise in competition, Alibaba's results remain an important indicator of the economy. Other major Chinese consumer-facing companies have yet to announce their earnings for the latest quarter, but iQiyi reported a significant increase in subscribers at the end of December.
Sentiment: MIXED
Keywords: alibaba group holding ltd, retail industry, business news, stock markets, iqiyi inc, market insider, politics, markets,
Source: https://www.cnbc.com/2023/02/24/chinas-online-shoppers-started-the-year-cautiously-alibaba-says.html