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  • South China Morning Post

    Alibaba e-commerce unit's latest executive reshuffle sees veterans retire as younger leaders take over

    A number of high-ranking executives at Taobao and Tmall Group have retired, paving the way for a younger generation of leaders to take the reins of Alibaba Group Holding's core e-commerce unit, as competition heats up with rivals such as PDD Holdings' Pinduoduo and ByteDance-owned Douyin. Senior executives that include Wang Hai, Liu Peng, Yu Feng and Wang Mingqiang retired from Taobao and Tmall Group on May 1, according to Chinese media reports on Wednesday. Their exit comes several months after

  • South China Morning Post

    Nobel laureate Paul Romer sees diminishing returns for AI, as FDI still 'killer app' for emerging economies

    The artificial intelligence (AI) industry is "going through a kind of a bubble right now" and could soon hit a ceiling when it comes to productivity gains, according to Nobel laureate and former chief economist at the World Bank Paul Romer. "The growth of digital technology hasn't in the past ushered us into this new era of much more rapid productivity growth, and I doubt that it's going to do it now," Romer told the South China Morning Post on the sidelines of the UBS Asian Investment Conferenc

  • South China Morning Post

    China-US relations: defence ministers Dong and Austin hold 'positive, practical and constructive' meeting, says Beijing

    The Chinese and US defence ministers held a bilateral meeting on the sidelines of the Shangri-La Dialogue in Singapore on Friday, the first in-person meeting between ministers since 2022. Senior Colonel Wu Qian, a spokesman for China's defence ministry, said the bilateral meeting between Dong Jun and Lloyd Austin was "positive, practical and constructive" communication at the strategic level. He said that during the meeting, the two exchanged views, including on relations between the two militar