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How a Chinese e-commerce company racked up $3 billion in sales in just 24h

Last week Chinese e-commerce giant Alibaba shocked the web with news that its subsidiaries Taobao like a Chinese eBay and T-mall like Amazon sold a massive $3.06 billion in product in a single 24-hour period.

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Last week Chinese e-commerce giant Alibaba shocked the web with news that its subsidiaries Taobao like a Chinese eBay and T-mall like Amazon sold a massive $3.06 billion in product in a single 24-hour period.

Three billion dollars is almost triple the entire 2011 Black Friday sales of e-commerce sites in the United States, and this is a testament to both the growing maturity of the Chinese online market and the central position Alibaba holds in China.So how do you do $3 billion in sales in a single day?

I interviewed an Alibaba spokesperson, who preferred to remain unnamed, to find out.Almost as many users as TwitterFirst of all, it helps to have users — lots of them.The two sites, Taobao.com and Tmail.com, share a combined user base of half a billion registered users. That’s only about 30 percent of the total Chinese population, which means that Alibaba has a long runway for continued growth as the Chinese middle class continues to grow — and suggesting that a $10 billion day is not out of the realm of possibility in years to come.

via How a Chinese e-commerce company racked up $3 billion in sales in just one day | VentureBeat.

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Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam

The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.

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Asset World Corporation (AWC) has launched the region’s largest wholesale hub in the Pratunam area of Bangkok, housed in the old Pantip Plaza tech mall.

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Thailand remains in pole position for the highest funds raised across Southeast Asia

Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited with US$1.77 billion and US$ 1.27 billion funds raised respectively

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Thailand’s Central Retail Corporation Public Company Limited raised US$1.77 billion in 2020

THAILAND, 26 November 2020 — Capital markets across Southeast Asia stayed resilient in 2020 despite a host of uncertainties from the evolving global health crisis to the worsening US-China trade tensions and the impact of the US presidential elections.

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Thailand’s antitrust agency under scrutiny over $11 Billion Tesco Deal Approval

With the Tesco deal approved, CP Group will gain control over a network of about 2,000 hypermarket and grocery stores across Thailand, and the group already operates 7-Eleven convenience stores and the Siam Makro chain.

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Thailand’s largest conglomerate, Charoen Pokphand Group (CP) won on Friday the Thai antitrust agency’s approval  for acquisition of retail giant Tesco Lotus: the Office of Trade Competition Commission (OTCC) voted 4:3 in favour of the US$10-billion takeover deal.

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