Alibaba Group Holding and Huawei Technologies are among the Chinese tech companies rushing to build data for consumers in an effort to provide goods and services. The new offering would allow AliExpress shoppers in Europe to pay for goods only after delivery.
The agreement between Alibaba and Huawei will allow both companies to develop smart car systems, which will enable cars to run on data instead of fuel. This will bring convenience and efficiency to consumers, who will be able to purchase goods and services with the click of a button.
The agreement, which was announced this past week, is part of Alibaba's plan to create a global presence. In addition to the agreement, Alibaba has been paying academics to lobby Chinese authorities to relax regulations and rehabilitate its reputation as the ecommerce group.
Alibaba's recent success can be attributed to the fact that its chairman, Jack Ma, is willing to cede control of the company. This has made investors more confident in the company, and its shares have exploded higher this week.
Daniel Meyer, a former Goldman Sachs executive, still holds a six-figure stake in Alibaba, which is the so-called “Amazon of China.” Despite its troubles with the Chinese government, Alibaba's stock has been increasing in value.
On Friday afternoon, Alibaba's shares were trading higher by 3.38% to $116.98 following earlier reports China. In addition, Goldman Sachs stamped Alibaba with a “Conviction Buy” rating.
Alibaba's success is a testament to the innovation of Chinese tech companies. By investing in data, they are able to provide consumers with greater convenience and efficiency. With its global presence, Alibaba is sure to remain a major player in the tech industry.
