U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Boris Johnson will be meeting President Donald Trump to discuss a potential post-Brexit trade deal just as he tries to court EU leaders for a new withdrawal agreement.World Politicsread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended...China Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
The unlikely alliance would in theory enjoy a relatively comfortable majority in the parliament's lower house but would rely on a handful of sympathetic but unaligned...Europe Politicsread more
Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy.Central Banksread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The office has long been a breeding ground for budding romances. But actively going into business with your other half is another thing entirely.Successread more
A day earlier, Chinese President Xi Jinping said his country will import $30 trillion in goods and $10 trillion in services over the next 15 years. China's trade deficit with the U.S. — which hit a record high in September — has been targeted by the Trump administration with tariffs this year.
"We hope through globalization to use China's consumer market to bring the whole world's goods to China," Alibaba CEO Daniel Zhang said during a speech at the "Global Import Leadership Summit," hosted by the Chinese e-commerce giant and the China Council for the Promotion of International Trade.
"Especially some small and medium sized enterprises, they need to open their market in China," Zhang said, according to a CNBC translation. The event took place on the sidelines of the China International Import Expo, which is part of a major Chinese effort to present the country as an anti-protectionist consumer of the world's goods.
JD.com, Alibaba's domestic e-commerce rival, announced Monday it will purchase nearly 100 billion yuan ($14.4 billion) in overseas brands' goods. No timeframe was given.
Zhang's comments echoed outgoing Alibaba Chairman Jack Ma's push to work with small business on the company's e-commerce platforms.
Ma said in September that Alibaba can no longer fulfill his promise of creating 1 million U.S. jobs due to trade tensions.
At a separate event on Monday alongside the expo, Ma called the U.S.-China trade war the "most stupid thing in this world," according to Reuters and state media reports.
Zhang is set to succeed Ma as chairman of the board next September. Until that time, Ma will remain executive chairman. He plans to stay on the board of directors through the 2020 annual shareholders meeting while focusing more of his time on philanthropy and education.
Last week, Alibaba lowered its fiscal 2019 revenue guidance by 4 to 6 percent.