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Alibaba Spin Off to Acquire MoneyGram for $880 Million

Ant Financial Services Group, the Alibaba Group affiliate formerly known as Alipay, announced the acquisition of major money remittance company Money Gram for $880 million. While already the online payments leader in China, this acquisition would greatly increase Ant’s international and U.S. presence, with the acquisition expected to close in the second half of the

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2013’s Largest Online Shopping Day in China is Bigger than Cyber Monday

While online retailers in the United States are happy with Cyber Monday setting the new record for the largest domestic online shopping day, it is still far from the size of the largest online shopping day in China known as 11.11 or Single Day. Read More

 
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New Cybersecurity Law Requires Government Agencies Seek Approval for Chinese IT Purchases

A recently signed appropriations bill contained an additional provision that several government agencies will need to get approval from law enforcement officials prior to purchasing IT products from suppliers that are from or have any connections with China. The U.S.-China Business Council has criticized the law saying that it unfairly targets Chinese firms and will

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