U.S. Markets open in 3 hrs 55 mins
  • S&P Futures

    3,697.50
    +27.50 (+0.75%)
     
  • Dow Futures

    29,506.00
    +163.00 (+0.56%)
     
  • Nasdaq Futures

    11,422.00
    +105.75 (+0.93%)
     
  • Russell 2000 Futures

    1,677.20
    +14.70 (+0.88%)
     
  • Crude Oil

    77.68
    +0.97 (+1.26%)
     
  • Gold

    1,642.00
    +8.60 (+0.53%)
     
  • Silver

    18.58
    +0.10 (+0.54%)
     
  • EUR/USD

    0.9616
    +0.0005 (+0.0481%)
     
  • 10-Yr Bond

    3.8780
    0.0000 (0.00%)
     
  • Vix

    31.34
    +1.42 (+4.75%)
     
  • GBP/USD

    1.0785
    +0.0102 (+0.9512%)
     
  • USD/JPY

    144.4740
    -0.2060 (-0.1424%)
     
  • BTC-USD

    20,120.76
    +937.57 (+4.89%)
     
  • CMC Crypto 200

    459.56
    +26.46 (+6.11%)
     
  • FTSE 100

    7,008.62
    -12.33 (-0.18%)
     
  • Nikkei 225

    26,571.87
    +140.32 (+0.53%)
     

Alibaba's Latest Offering Amid China's Renewed Tech Crackdown

·1 min read
  • Alibaba Group Holding Ltd (NYSE: BABA) launched a new Alibaba.com Dropshipping Solutions alongside new platform tools and a grants program totaling $500,000 in awards.

  • It aims to support existing e-commerce businesses and the rise of "New Digital Entrepreneurs" by the initiative.

  • These "New Digital Entrepreneurs" are building digital businesses enabled by new online infrastructure to operate their B2C e-commerce stores on platforms like Shopify Inc (NYSE: SHOP) or as third-party sellers on retail e-commerce sites like Amazon.com Inc (NASDAQ: AMZN).

  • Over the last year, transactions involving U.S. businesses on Alibaba.com were up by over 150%.

  • Alibaba recently pledged a whopping $15.5 billion for small-and medium-sized enterprises and improving insurance protection for gig economy workers amid the growing domestic tech crackdown.

  • Price Action: BABA shares traded lower by 1.94% at $167.40 on the last check Thursday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.