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The article shows the easing by the government of China's crackdown on technology companies in favor of a policy approach to companies that sacrifice economic growth for tighter governmental control. It reports the decline in China-focused venture fundraising in 2022, shift of investors toward artificial intelligence (AI) and semiconductors, support of Chinese President Xi Jinping to platform companies, and cost-cutting measures of technology industry executives and investors.

Source Code Capital, an early backer of ByteDance, the company that owns TikTok, is raising a $300 million venture fund in China. This comes as startups in the country are drawing renewed interest during the AI boom. The fund, led by partner Samuel Huang, will be Source Code's first major investment vehicle since early 2021. The fundraising efforts of Source Code and other venture funds will be closely watched as a gauge of renewed interest in China's tech sector. US investors have become more cautious about investing in China due to tensions between the two countries. Source Code manages around $5 billion across its yuan and dollar funds and has invested in companies like Meituan and Ke Holdings. However, the firm has struggled to deliver strong performance with its newer funds. [Extracted from the article]

Alpha Intelligence Capital (AIC), an investment firm that focuses on artificial intelligence (AI) companies, is raising a $250 million fund with backing from government-owned entities in France and Singapore. The fund has already raised $160 million and is expected to close by September. AIC's previous investments include OpenAI and FlexAI, and it is betting on the continued adoption of AI worldwide. The fund will consider investments across the AI value chain, excluding China, and will focus on applications, cybersecurity, and gaming. [Extracted from the article]

Jack Ma, co-founder of Alibaba, has expressed his support for the company's restructuring efforts in a memo to employees. Ma, who had retreated from the public eye in recent years, praised new leaders Joseph Tsai and Eddie Wu for their efforts to revive the company. He emphasized the need for growth and urged staff to think outside the box and escape the "big company trap." Alibaba is currently facing challenges from regulatory crackdowns and competition from rivals, but Ma's memo is seen as a positive sign for employees. [Extracted from the article]

JD.com, a major e-commerce company in China, experienced a significant increase in its shares after reporting better-than-expected revenue growth and predicting a consumer recovery in Beijing. The company's sales from October to December exceeded estimates by 2%, reaching 306.1 billion yuan ($42.6 billion). JD.com has been implementing strategies such as discounts and offering cheaper products to boost growth and compete with rivals like Alibaba and PDD Holdings. Despite challenges in the Chinese economy, JD.com remains hopeful that government stimulus measures will improve consumer spending in 2024. [Extracted from the article]

Alibaba Group Holding Ltd. has approved another $25 billion in stock repurchases, aiming to address concerns about slowing growth and increased competition from companies like PDD Holdings Inc. The buyback program is an expansion of an existing one that was already one of the largest in China, with $9.5 billion repurchased last year. Alibaba's performance has been affected by a downturn in the economy and a loss of market share to rivals. The company is undergoing a multi-way split and is focused on becoming a major player in artificial intelligence and cloud computing. [Extracted from the article]

Investors in Shein, an online fashion retailer, are attempting to sell shares at a discounted price due to concerns about competition and regulatory scrutiny. The offers value the company at around $45 billion to $55 billion, significantly lower than the $66 billion valuation achieved in a previous fundraising round. However, finding buyers at these levels has been challenging, indicating a potential further decline in value. Shein is facing increased competition from rival companies and accusations of copyright infringement from major clothing brands. The company's planned IPO, which aimed for a valuation of up to $90 billion, is now under review by China's cyberspace administration, and US lawmakers have called for a halt to the IPO until forced labor allegations are addressed. Shein's valuation has dropped along with other startups and technology companies as investors become more cautious. [Extracted from the article]

Alibaba Group Holding Ltd. saw a significant increase in its stock price after co-founder Jack Ma purchased $50 million worth of stock, providing support for the struggling company. The purchase comes as Alibaba has faced internal turmoil and a decline in its market value. The company has lost market share to competitors like PDD Holdings Inc. and recently underwent a management reshuffle. Ma's purchase is seen as a potential boost to market confidence in the short term, but the company still faces challenges in regaining its growth and competing with rivals. [Extracted from the article]

Alibaba Group Holding Ltd. saw an 8% increase in its stock price after co-founders Jack Ma and Joseph Tsai purchased $200 million worth of shares. This news comes as Chinese stocks face a market downturn and investors have concerns about China's post-Covid recovery. Alibaba has experienced a decline in value over the past year due to increased competition and management changes. The purchases by Ma and Tsai may indicate a more active role for Ma in the company, although it is unclear if this marks a reversal of his previous plans to sell his stake. The company is currently undergoing efforts to revitalize its business and regain its dominance in the Chinese market. [Extracted from the article]

Venture capital investment in China has decreased by over 7% to its lowest level in four years, despite several large chip deals. The decline is attributed to a cooling interest in startups and concerns about economic and regulatory instability. The value of VC bets fell to $69.9 billion over approximately 4,200 deals, the lowest amount since 2019. The decrease in investment reflects a global trend of dwindling interest in startups, but the outlook for China remains uncertain due to a choppy post-Covid recovery, rising youth unemployment, and a volatile regulatory environment. [Extracted from the article]

Alibaba Group Holding Ltd.'s cloud unit has experienced another departure of a senior executive, adding to the uncertainty surrounding the division. Chief Commercial Officer Cai Yinghua has left the company, although the reason for his departure is unclear. This comes after Alibaba decided to cancel the spinoff and IPO of its $11 billion cloud business, causing concern among investors. The company has since appointed new executives in an effort to restructure and revive its fortunes. [Extracted from the article]

ByteDance, the parent company of TikTok, is offering to buy back up to $5 billion from investors at a valuation of $268 billion. This offer is at the same level as the price offered to employees in November. ByteDance has become one of China's internet leaders, expanding into e-commerce and other areas. However, its ventures into gaming and virtual reality have been unsuccessful, leading the company to focus on its core business. Plans for an initial public offering have faced setbacks due to regulatory crackdowns and scrutiny in key markets. ByteDance's revenue surged to over $80 billion in 2022, driven by the success of TikTok Shop and on-demand services in China. [Extracted from the article]

ByteDance, the parent company of TikTok, is offering to buy back up to $5 billion in investor shares. The offer is set at $160 per share, the same price offered to employees in November. This valuation is approximately 11% lower than the price offered to investors in 2022. ByteDance has become one of China's leading internet companies, expanding into ecommerce and other areas, but its foray into gaming has been unsuccessful. [Extracted from the article]

Alibaba Group Holding Ltd briefly lost its position as China's most valuable e-commerce firm to PDD Holdings Inc, an eight-year-old upstart. This shift reflects the turmoil that Alibaba has faced since Beijing targeted the company and its co-founder, Jack Ma, in 2020. The rise of companies like PDD and ByteDance Ltd signals the disruption of traditional social media and e-commerce arenas. Alibaba is currently trading at its lowest point this year and is navigating internal and external challenges, while PDD has captivated investors with its growth and global expansion. [Extracted from the article]

Alibaba Group Holding Ltd briefly lost its position as China's most valuable e-commerce firm to PDD Holdings Inc, an eight-year-old upstart. This shift reflects the turmoil that Alibaba has faced since Beijing targeted the company and its co-founder, Jack Ma, in 2020. The rise of upstarts like PDD and ByteDance Ltd signals a disruption in the traditional arenas of social media and e-commerce. Alibaba is currently trading at its lowest point this year and is navigating internal and external challenges, while PDD has captivated investors with its growth and global expansion. [Extracted from the article]

Alibaba Group Holding Ltd., once China's most valuable e-commerce firm, is set to be overtaken by eight-year-old upstart PDD Holdings Inc. in terms of market value. This shift reflects the turmoil that Alibaba has faced since Beijing targeted the company and its co-founder, Jack Ma, in 2020. The rise of upstarts like PDD and ByteDance Ltd. signals a disruption in the traditional arenas of social media and e-commerce. Alibaba's recent challenges include a weaker-than-anticipated Chinese economic recovery and competition from PDD. Meanwhile, PDD has captivated investors with its impressive growth and aggressive global expansion. [Extracted from the article]

PDD Holdings Inc., a Chinese-owned e-commerce platform, saw a surge in its stock price after reporting a doubling in revenue. This growth was driven by its hit shopping app, Temu, which aggressively marketed and offered discounts to attract consumers from competitors Shein and Amazon. Temu's success has outpaced other Chinese rivals, including Alibaba, and is seen as a potentially disruptive force in global e-commerce. While some investors worry about the impact of Temu's battle with Shein on PDD's bottom line, others anticipate continued market share gains and expansion into the US market. [Extracted from the article]

PDD Holdings Inc., the company behind the shopping app Temu, reported higher-than-expected revenue in the September quarter. The e-commerce platform's sales reached 68.8 billion yuan ($9.6 billion), surpassing estimates and almost doubling from the previous year. PDD's success can be attributed to its use of discounts and marketing strategies to attract price-sensitive consumers from competitors like Shein and Amazon. The company's growth has outpaced other Chinese peers, including Alibaba, and its shares have risen significantly. However, some investors are concerned about the impact of PDD's aggressive spending on its profit margins. [Extracted from the article]

Alibaba Group Holding Ltd. saw its shares drop by as much as 10% after canceling plans to spin off its cloud business due to tightened US restrictions on advanced chips for China. The decision surprised investors and raised doubts about the company's recent overhaul. Instead of the spinoff, Alibaba will focus on growing its cloud services division organically and will distribute its first-ever annual dividend of $2.5 billion. The company's efforts to stage a comeback from the effects of Covid and a tech-sector crackdown are complicated by US curbs on artificial intelligence chips, which are essential for cloud services. [Extracted from the article]

Its short-video platforms, TikTok globally and Douyin at home in China, have disrupted internet businesses and social media worldwide. (Bloomberg) -- ByteDance Ltd. has offered to buy back employees' shares at a price 3% above a previous exercise, aiming to boost morale while conveying confidence about the social media leader's prospects. Once the darling of global investors, ByteDance is joining a growing list of Chinese internet companies searching for solutions to restore market confidence and retain talent. [Extracted from the article]

In September, PDD debuted its Temu bargains platform in the US, then quickly rolled it out to other places like Canada and Europe. (Bloomberg) -- PDD Holdings Inc. revenue rose a stronger-than-expected 66% after the company behind hit shopping app Temu spent to boost growth at home and abroad to counter a bumpy post-pandemic recovery. [Extracted from the article]

JD's results, which followed better-than-anticipated numbers from larger rival Alibaba Group Holding Ltd., suggest online commerce held up during the key summer shopping season despite a patchy Chinese economy. (Bloomberg) -- JD.com Inc.'s revenue accelerated in the second quarter after its signature 6.18 festival scored with shoppers, helping the company defy worsening Chinese economic volatility. [Extracted from the article]

Alibaba's cloud division reversed its decline in the quarter and the overseas arm that includes Singapore-based Lazada and Trendyol expanded revenue 41%. (Bloomberg) -- Alibaba Group Holding Ltd. returned to growth across all its main divisions, defying China's economic turbulence to take a first step toward a long-awaited comeback after more than a year of malaise. [Extracted from the article]

Alibaba's cloud division reversed its decline in the quarter and the overseas arm that includes Singapore-based Lazada and Trendyol expanded revenue 41%. (Bloomberg) -- Alibaba Group Holding Ltd. returned to growth across all its main divisions, defying China's economic turbulence to take a first step toward a long-awaited comeback after more than a year of malaise. [Extracted from the article]

After an IPO that could value it at $45 billion, Alibaba's cloud unit might scale up with support from new strategic investors to tackle Tencent, Huawei and China Telecom. Alibaba's cloud division reversed its decline in the quarter and the overseas arm that includes Singapore-based Lazada and Trendyol expanded revenue 41%. [Extracted from the article]

Abroad, ByteDance and PDD's Temu continue to make strides, building on expansions that began when Alibaba and Tencent were forced to show restraint. (Bloomberg) -- Alibaba Group Holding Ltd.'s revenue beat expectations after its core e-commerce arm returned to growth, a big step for a national icon trying to revive its business in a volatile economy. [Extracted from the article]

Abroad, ByteDance and PDD's Temu continue to make strides, building on expansions that began when Alibaba and Tencent were forced to show restraint. (Bloomberg) -- Alibaba Group Holding Ltd.'s revenue beat expectations after its core e-commerce arm returned to growth, a big step for a national icon trying to revive its business in a volatile economy. [Extracted from the article]

(Bloomberg) -- China's largest tech companies Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have gained $66 billion in market value since May's end, propelled by expectations of a gradual return to pre-crackdown growth and a litany of official promises to unshackle the private sector. Alibaba and Tencent, after shedding more than $350 billion of value since 2020, cut more than 20,000 jobs between them last year to survive regulatory and economic turmoil. [Extracted from the article]

Abroad, ByteDance and PDD's Temu continue to make strides, building on expansions that began when Alibaba and Tencent were forced to show restraint. (Bloomberg) -- China's largest tech companies Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have gained $66 billion in market value since May's end, propelled by expectations of a gradual return to pre-crackdown growth and a litany of official promises to unshackle the private sector. [Extracted from the article]

(Bloomberg) -- China's largest tech companies Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have gained $66 billion in market value since May's end, propelled by expectations of a gradual return to pre-crackdown growth and a litany of official promises to unshackle the private sector. Abroad, ByteDance and PDD's Temu continue to make strides, building on expansions that began when Alibaba and Tencent were forced to show restraint. [Extracted from the article]

Abroad, ByteDance and PDD's Temu continue to make strides, building on expansions that began when Alibaba and Tencent were forced to show restraint. (Bloomberg) -- China's largest tech companies Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have gained $66 billion in market value since May's end, propelled by expectations of a gradual return to pre-crackdown growth and a litany of official promises to unshackle the private sector. [Extracted from the article]

Earlier this year, JD units Jingdong Property Inc. and Jingdong Industrials Inc. submitted listing applications to the Hong Kong Stock Exchange. (Bloomberg) -- JD.com Inc. aims to create an independent unit by merging its 7Fresh supermarket chain with other online services, establishing a retailer of fresh food and groceries that serves millions nationwide. [Extracted from the article]

(Bloomberg) -- Alibaba Group Holding Ltd. is bringing back two of Jack Ma's longest-serving lieutenants to try and turn around a company that's struggled to regain its footing since Beijing's regulatory assault against the internet sector in 2021. Long-time Alibaba rival Baidu Inc. - once dismissed by investors as having missed the mobile revolution - introduced China's first ChatGPT-like AI service Ernie to positive reviews, highlighting how Alibaba and its peers may be falling behind in next-generation technology. [Extracted from the article]

Alibaba surprised markets by declaring Eddie Wu and Joseph Tsai will replace eight-year veteran CEO Daniel Zhang at the helm. (Bloomberg) -- Alibaba Group Holding Ltd. is bringing back two of Jack Ma's longest-serving lieutenants to try and turn around a company that's struggled to regain its footing since Beijing's regulatory assault against the internet sector in 2021. [Extracted from the article]

Retail chief Xin Lijun told Bloomberg Television last week he expects JD's core e-commerce business to accelerate this quarter after the company posted its lowest-ever pace of overall revenue expansion during the January to March period. China's No. 2 online commerce firm also aims to have three companies with sales exceeding 1 trillion yuan and net profit of more than 70 billion yuan, it said on Sunday. (Bloomberg) -- JD.com Inc. aims to create seven listed firms with market values of at least $14 billion apiece, outlining aggressive targets spanning two decades as it wrapped its signature 2023 sales gala with another record haul. [Extracted from the article]

Still, Zhang unveiled that grand vision after China's e-commerce leader posted its third consecutive quarter of single-digit revenue growth, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. (Bloomberg) -- Alibaba Group Holding Ltd. will explore initial public offerings for its logistics and grocery arms while hiving off its $12 billion cloud business, kicking off the first phase of a much-anticipated breakup to try and revive anemic revenue growth. [Extracted from the article]

Still, Zhang unveiled that grand vision after China's e-commerce leader posted its third consecutive quarter of single-digit revenue growth, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. (Bloomberg) -- Alibaba Group Holding Ltd. will explore initial public offerings for its logistics and grocery arms while hiving off its $12 billion cloud business, kicking off the first phase of a much-anticipated breakup to try and revive anemic revenue growth. [Extracted from the article]

(Bloomberg) -- Alibaba Group Holding Ltd. again posted single-digit revenue growth, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. Alibaba could narrow international commerce (global digital) losses into 2024 even as consensus expects a wider deficit from the prior year if the firm aims to list this unit. [Extracted from the article]

(Bloomberg) -- Alibaba Group Holding Ltd. will explore initial public offerings for its logistics and grocery arms while hiving off its $12 billion cloud business, kicking off the first phase of a much-anticipated breakup to try and revive anemic revenue growth. Still, Zhang unveiled that grand vision after China's e-commerce leader posted its third consecutive quarter of single-digit revenue growth, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. [Extracted from the article]

(Bloomberg) -- Alibaba Group Holding Ltd. will begin exploring initial public offerings for its logistics and grocery arms, kicking off a long-awaited breakup that may help reverse anemic growth at China's cloud and online commerce leader. Alibaba on Thursday again posted single-digit revenue growth, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. [Extracted from the article]

(Bloomberg) -- JD.com Inc.'s Chief Executive Officer Xu Lei is retiring for personal reasons, a surprise move for a Chinese company struggling to revive growth at a time of economic uncertainty. Xu quits his post after a decade at JD, handing the reins to Chief Financial Officer Sandy Xu starting June. [Extracted from the article]

(Bloomberg) -- JD.com Inc.'s Chief Executive Officer Xu Lei is retiring for personal reasons, a surprise move for a Chinese company struggling to revive growth at a time of economic uncertainty. In response, Beijing-based JD.com has reduced costs and dished out more incentives to boost post-pandemic spending. [Extracted from the article]

In New York, Tencent's US-listed shares rose 3.6% while Alibaba's gained 2.2% in early trading, both outpacing a 1% gain in the tech-heavy Nasdaq 100 index. Xi again called on foreign investors to "seize opportunities" in China during a tour of southern Guangdong this week, during which he stopped by an LG Display Co. plant. [Extracted from the article]

"For those early investors in Chinese big tech firms, it might be the same case. Xi again called on foreign investors to "seize opportunities" in China during a tour of southern Guangdong this week, during which he stopped by an LG Display Co. plant. [Extracted from the article]

SoftBank founder Masayoshi Son famously invested about $20 million in Jack Ma's Alibaba in 2000 and held through the dot-com bust and the Chinese company's IPO in 2014. "Reported plans to lower exposure in Alibaba by SoftBank may reiterate the prevailing loss of confidence in Chinese tech firms by foreign investors, giving rise to concerns that more may do the same", said IG Asia analyst Jun Rong Yeap. [Extracted from the article]

While loss-making, the unit has consistently racked up double-digit revenue growth and is one of the company's most recognizable brands, a nationwide logistics giant that helps ship upwards of a billion packages during the company's signature Singles' Day shopping festival. (Bloomberg) -- Alibaba Group Holding Ltd. and JD.com Inc. have begun preparations for a trio of the year's biggest Chinese debuts, heralding a wave of initial public offerings that promise to breathe new life into the struggling technology industry and Hong Kong's stock market. [Extracted from the article]

(Bloomberg) -- Alibaba Group Holding Ltd.'s overhaul could serve as a template for a restructuring of China Tech itself: a shake-up that achieves Beijing's aim of carving up the country's tech titans while unlocking potentially billions of dollars in pent-up shareholder value. It's also a strong signal that Alibaba is ready to tap investors and public markets, after the Xi Jinping administration's clampdown on internet spheres wiped out more than $500 billion of its value. [Extracted from the article]

"It is quite likely that this brings forward the "day-of-reckoning" for the private equity/venture capital-funded universe, and may force PE funds including SoftBank to mark down private books sooner than they'd like to", Jefferies analyst Atul Goyal said in a note to investors. (Bloomberg) -- As the world assesses the fallout from Silicon Valley Bank's implosion, investors are casting a wary eye at SoftBank Group Corp. - by many measures, the startup arena's biggest backer and advocate. [Extracted from the article]

Like Alibaba and Tencent Holdings Ltd., JD faces intensified competition from up-and-comers such as PDD Holdings Inc. and ByteDance Ltd., and has balanced tightened cost controls with targeted measures to shore up its market share. (Bloomberg) -- JD.com Inc. shares fell after the company reported a sharp drop in revenue growth as Chinese shoppers rein in spending. [Extracted from the article]

The company and larger rival Alibaba Group Holding Ltd. have grappled with weak consumption sentiment since the world's No. 2 economy buckled under the weight of China's rigid Covid control measures. (Bloomberg) -- JD.com Inc. posted a 7% rise in quarterly revenue, slightly below expectations, as Chinese online consumer spending remained volatile during an economic downturn. [Extracted from the article]