The investment will help Wal-Mart target China's fast-growing online market at a time when largely brick and mortar retailers are feeling the pinch of competition from online rivals and a slowing of the world's second-largest economy.
Days after news leaked that Uber would be investing $1 billion in China, reports claim the newly merged Uber competitor Didi Kuaidi is raising its own, bigger round.
The woman at the head of the U.S. home decor empire and the man at the head of the gigantic Chinese ecommerce platform have risen to become titans of business by bowing at the altar of the middle class.
In the last four years, changes in Hong Kong's and Singapore's startup scenes have created opportunities -- and China's consumer market is evolving, too.
A restaurant in central China is offering free meals to the 50 most beautiful customers who walk through the doors every day, as judged by a panel of local plastic surgeons.