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(FILES) This file picture taken on September 9, 2014 shows a woman walking past the Alibaba booth during an exhibition in Hangzhou, east China's Zhejiang province. Alibaba co-founder and chairman Jack Ma announced on September 10, 2018, he would step down as leader of the pioneering Chinese e-commerce giant in one year but stressed that a planned leadership transition would not break the company's stride. Ma will stay on as executive chairman until September 10, 2019 before handing over his role to chief executive officer Daniel Zhang, Alibaba said in a statement. / AFP PHOTO / STR / China OUT

Report: Value of Alibaba’s on-demand online services hits $30 billion

Alibaba Group’s newly formed on-demand online services unit has rocketed in value to as much as 30 billion dollars after raising four billion dollars in fresh funds, people with knowledge of the situation told Reuters.

Waymo sets up subsidiary in Shanghai as Google plans China push

Alphabet’s self-driving unit Waymo has set up a subsidiary in Shanghai, according to a business registration filing, the latest sign that the U.S. internet giant is attempting to make new inroads into China.

Uber investors agree to sell stake in SoftBank deal

Uber Technologies Inc. shareholders have agreed to sell a sizable stake in the ride-hailing leader to an investor group led by SoftBank Group Corp allowing the Japanese conglomerate to amass a piece of the company at a steep discount to the last valuation.

China Unicom to raise $11.7bn from private firms

Telecoms group China Unicom said it is raising $11.7 billion from investors including tech giants Alibaba Group and Tencent Holdings, as part of Beijing’s push for state-owned enterprises to be revitalized with private capital.

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