A NEW battleground is emerging for China’s Internet companies: a fast-growing market with almost double the U.S. population.
As China grapples with a slowing economy cheap nike air max 95 sale , the country’s top technology firms are spending aggressively to expand in Southeast Asia, home to 620 million people. The region is becoming an important growth area for Alibaba Group Holding, Tencent Holdings, ride-hailing firm Didi Chuxing Technology and e-commerce company JD as they expand in online retail and mobile payments.
Alibaba and Tencent have led deals with a combined value of more than US$1 billion to advance their e-commerce cheap nike air max 90 sale , logistics and social network businesses. Southeast Asia is the third-largest region for China’s outbound technology mergers and acquisitions this year, behind Europe and North America, with US$1.9 billion in deals, compared with US$193 million last year cheap nike air max sale , according to Dealogic. Industry executives say Chinese tech investments are likely to accelerate.
“What we have learned in China, we can apply the fastest in Southeast Asia,” Poshu Yeung, Tencent’s vice president of its international business cheap air max 95 sale , said in an interview. “Everything in Southeast Asia, particularly in Indonesia, you will experience a pretty good growth rate.”
Southeast Asia’s US$2.5 trillion economy is attractive for its growing incomes and rates of smartphone ownership. Research firm eMarketer projects smartphone users in the six largest regional economies will exceed 257 million by 2020, more than in the United States.
Alibaba’s US$1 billion acquisition of Lazada Group in April gave the company instant access to six markets: Indonesia cheap air max 90 sale , Thailand, Singapore, Malaysia, the Philippines and Vietnam. Beyond the exposure cheap air max sale , Lazada gave Alibaba access to a wide logistics network to deliver parcels ordered by Southeast Asian consumers on Alibaba’s Chinese platforms.
Lazada improved its technology and logistics operations after sending at least 100 of its employees to Alibaba’s headquarters for knowledge-sharing expeditions, said Maximilian Bittner, its chief executive officer. Lazada also attracted several international brands such as Unilever and Mattel to open retail storefronts on its website after introductions by Alibaba.
Shenzhen-based Tencent jumped in by investing in Garena Interactive Holding, a Singapore-based startup valued this year at US$3.75 billion. Garena entered e-commerce last year through a peer-to-peer marketplace app called Shopee cheap nike air max 95 womens , whose built-in payment, chat and delivery services smooth transactions. Shopee is going head-to-head with Lazada in the same six markets by allowing consumers and small merchants to sell products online.
Garena President Nick Nash said Shopee is on track to exceed US$2 billion in gross merchandise volume — a closely watched metric for e-commerce companies — this calendar year and counts Indonesia, Thailand and Vietnam among its largest markets. Lazada doesn’t disclose its figure.
JD, China’s second-largest e-commerce provider behind Alibaba cheap nike air max 90 womens , entered Indonesia’s online sales market last year and intends to use it as a launchpad for the rest of the region, its chief executive said in an interview.
(SD-Agencies)
WELLINGTON， Oct. 7 (Xinhua) -- Median weekly earnings for New Zealanders saw their largest annual rise in nine years in the June quarter， the government statistics agency said Friday.
The median weekly income from paid employment was up 5 percent year on year to 924 NZ dollars (659 U.S. dollars) the highest rise since June 2007， according to Statistics New Zealand.
"A rise in the proportion of full-time wage and salary earners， and the number of hours being worked， together pushed up median earnings for workers，" labor and income statistics manager Mark Gordon said in a statement.
"While the increase in weekly earnings is similar to that before the 2008 economic downturn， increases in hourly wages were more modest，" Gordon said.
"Median hourly earnings from wages and salaries increased 2.9 percent， similar to increases in the past seven years， but well below the 6.1-percent increase 10 years ago."
However， Minister for Women Lousie Upston expressed disappointment at an widening gender pay gap revealed in the figures.
The gender pay gap was now 12 percent， up from 11.8 percent in 2015， Upston said in a statement.
"While it's been encouraging to see a downwards trend in gender pay gap figures over the past 17 years， this yea's result is disappointing，" said Upston
"Closing the gender pay gap requires making conscious， measured and reported efforts to tackle pay differences between men and women，" she said.
Employers needed to focus on tackling the barriers that prevented women from advancing their careers， and ensure women were fully valued for the work they do.
SHANGHAI, July 5 (Xinhua) -- Facial recognition, new media and big data are among the latest technologies Shanghai authorities are using to help vagrants and beggars return home.
On June 22 cheap nike air max womens , a senior citizen surnamed Liang was reunited with his family after losing contact over 20 years ago.
The 70 years old, suffering mental disease, was sent to a homeless shelter operated by Shanghai Civil Affairs Bureau on April 21.
After finding out his hometown was Luqiao district of Taizhou city in Zhejiang Province, the shelter published information on a popular news service app toutiao.
Based on big data and due to the wide popularity of smart phones in China cheap air max 95 womens , the app sent the information to users in Luqiao.
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