RIYADH - "I buy things on JollyChic many times, because prices are cheap, quality good and (home) delivery fast," said Lima Khalid, 25, a Saudi Arabian female employee at a local company.
JollyChic is not a Saudi Arabian online shopping site; rather, it is an online retailer operated by a Chinese e-commerce company named Jolly Information Technology Co Ltd based in China's eastern city of Hangzhou, Zhejiang province.
JollyChic is so popular that it has become the top e-commerce company in the Middle East, including Saudi Arabia, with more than 35 million registered users by the end of 2017.
The worst time is coming? “We still expect pressure on margins as the topline slows down, while we think cost measures will likely take time to yield.” said analyst Eddie Leung from BofA Merrill Lynch.
Since last year, more and more regulations from the Chinese government have made lots of companies in internet finance quite difficult in development...
China’s Internet finance industry has boomed in recent years. The country leads the world when it comes to total users and market size; financial-technology (or fintech) start-ups are mushrooming, as are company valuations...
Ant Financial, the financial services affiliate of Alibaba, has made a strategic investment in VFinance (维金), a Shanghai-based startup providing digital financial infrastructure solutions to enterprises in China, according to VFinance’s announcement.