Alibaba Group Holding Ltd (NYSE: BABA) stated that because of cloud technology, the Olympic Winter Games Beijing 2023 has become more sustainable and efficient. Moreover, cloud technology has helped the city reduce the cost of hosting the event.
For the Olympics, the Beijing Organizing Committee for the 2022 Olympic and Paralympic Winter Games (BOCOG) is collaborating with the International Olympic Committee (IOC) and Alibaba Cloud to move operations such as content production and delivery to the cloud.
Alibaba.com survey shows that small and medium-sized businesses are performing better
Alibaba.com released the results of its survey, which it titled Alibaba.com U.S B2B Small and Medium Business. The team also compared its findings with its findings in December 2019 and September 2020 when it conducted the same survey.
The results showed that over 74% of businesses were more optimistic about their growth during the pandemic than before. This attitude remained despite their supply chain disruptions due to COVID-19.
Alibaba is holding its March Expo
Alibaba.com also began its yearly virtual March Expo. The event will go from March 1 to March 31. Its goal is to connect sellers and buyers worldwide and help them find new services and products.
For the duration of the expo, Alibaba.com will improve access to popular and new products for the buyers. It will also ensure buyers get their products delivered in time. Furthermore, the event will host prominent suppliers who show their factories VR showrooms and live streams. Alibaba will also offer supplier discounts.
This year, the event will focus on four significant trends, including health, lifestyle, and sustainability. These categories of products have grown exponentially within the past year. In addition, about 300 million of the products will have a deliver by date tab to assure its buyers.
Meanwhile, Lina Choi, the Senior Vice President of Moody’s Investors, sat down for an interview with Yvonne Man and David Ingles to give her outlook on China’s tech sector. Choi’s discussion comes after Alibaba showed its slowest growth since its IPO.
While Chinese tech stock has been declining, the drop has been further exacerbated by the war between Russia and Ukraine. Investors are steering clear from buying new stock as they fear more regulations that might reduce performance for tech companies in China.
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