Chinese e-commerce company News

A Chinese e-commerce website is selling a pensive statue of former US President Donald Trump sitting in a zen position, cross-legged and with his eyes closed, draped in a robe. The statue resonates the zen pose associated with Buddha.

The data centre will be set up in Mumbai by March 31, 2018, the group said, adding that another one will come up in Jakarta.

China will back e-commerce development and guide international expansion by Chinese internet companies, Premier Li Keqiang said on Thursday, in an endorsement for firms such as Alibaba Group Holding Ltd and JD.com Inc. 

In a note Thursday, analysts at Morningstar said the shares are more fairly valued at $90 each.

Alibaba`s initial public offering starting as early as next week is expected to raise between $19-24 billion.

The latest price range would give Alibaba a market value of between $148 and $163 billion dollars.

Alibaba Group Holding Ltd has two major things going for it as it prepares for an initial public offering that could raise more than $21 billion: founder Jack Ma and a "capital-lite" business model.

Alibaba said mobile revenue was roughly a third of its total transaction volume in the three months ended June 30, up from 27.4 percent in the first three months of the year.