Alibaba to launch $7B subsidy program to bolster instant commerce amid rising competition

5 days ago 1

• Tech
• Consumer

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• China’s Alibaba Group Holding (NYSE:BABA) is said to be launching 50 billion yuan ($7 billion) in subsidies for food delivery and online retail, aiming to strengthen its instant commerce operations amid intensifying competition.
• The yearlong subsidy program will support both

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