Employees package and sort express parcels at an e-commerce company on Nov. 1, 2024, around the Double 11 Shopping Festival in Lianyungang, Jiangsu Province of China. Vcg | Visual China Group | Getty Images BEIJING — Early indicators of China’s biggest shopping event of the year reveal a pickup in select categories amid expectations of relatively modest growth in overall sales. China’s version…

JD.com set up an Innovative Retail division that houses its grocery business 7Fresh. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday. U.S. listed shares of the firm rose 2.24% on Tuesday after the announcement. Both…

Alibaba announced a major leadership reshuffle on Tuesday, with CEO and Chairman Daniel Zhang planning to step down this year and be replaced by veterans at the Chinese tech giant. Eddie Yongming Wu will step in as CEO, while Joe Tsai will take over as chairman on Sept. 10. The two executives are Alibaba veterans and close confidant of Alibaba’s billionaire founder Jack Ma. But who are they…