Launched in 2020, The CrownX unites two leading enterprises in the industry to establish a leading retail – consumer platform in Vietnam. Within the framework of the transaction, The CrownX will partner with Lazada to accelerate the company’s digital transformation, accelerating the development of the integrated retail market from offline to online (“O2O”) in Vietnam. This transaction strengthens shareholders’ vision of the potential to build Vietnam’s first technology-enabled retail-consumer ecosystem, while expanding its reach to serve consumers nationwide. Alibaba and partners complete the investment of 400 million USD in The CrownX Mr. Danny Le – General Director of Masan Group – shared: The strategic cooperation agreement will help us accelerate the transformation of The CrownX into a Point of Life – an “all-in-one” platform serving the needs of customers. daily necessities of consumers on offline and online shopping channels. Our first priority is to modernize the retail essentials market in Vietnam, serving consumers with the best products and services. I believe this partnership will help the company realize Point of Life more quickly and effectively. Kenny Ho – Investment Director of Alibaba Group in Southeast Asia and India – said: The combination of Alibaba’s understanding in online retail industry, Lazada’s e-commerce platform, and selling system Masan’s scale of offline retail will be a catalyst to promote the modernization of Vietnam’s retail industry. We look forward to accompanying Masan to build a leading retail and consumer platform integrated from offline to online in Vietnam. Within the transaction framework, VinCommerce (VCM) will establish a strategic cooperation agreement with Lazada – Alibaba’s e-commerce platform in Southeast Asia. Accordingly, VCM will be the leading retailer of necessities on the Lazada e-commerce platform. The two sides will share knowledge and experience to promote necessities to become a key industry of e-commerce. At the same time, develop the feature of supplying goods for online orders at VCM’s offline selling points. Although shopping with daily frequency, the ability of consumers to access essential products through online channels is still limited. Masan sets a target that the total value of goods from The CrownX’s online channel will account for at least 5% of the Company’s total sales in the near future.

In addition, this company will serve other financial institutions such as state-owned banks to compete in lending with fintech companies. According to a source close to the Financial Times, Ant Group wants to lead the new company. But PBoC said that this will create a conflict of interest. China wants to take control of Ant Group’s huge data warehouse. (Photo: FT) “The first priority is to ensure that the new business fully complies with the regulations. State participation will help the PBoC achieve those goals,” a source revealed. In January, the PBoC announced regulations requiring Chinese companies to secure government approval before being allowed to provide personal credit services. These companies have to ensure that they have 3 licenses and all are subject to government control. PBoC officials held a conversation with Ant Group executives on April 12. This month, Chinese regulators also asked Ant Group to restructure and sanction Xi. Alibaba Group Jack Ma’s record fine of 2.8 billion USD. Banks in China have long complained that Ant Group has benefited by not having to comply with the same strict regulations on lending as they do. The company has established a dominance in China with more than 700 million users a month on Alipay, an Alibaba mobile payment app. By the end of June 2020, Ant Group had developed a consumer lending platform with outstanding credit to about 1,700 billion yuan ($ 262 billion), more than any Chinese bank. Come on. In addition, the fintech company charges banks for loans on their apps. “Ant Group’s credit database offers a lot of value to banks,” said a former PBoC official. A person knowledgeable about this issue commented: “Ant Group needs to find a way to legalize this data warehouse. The proposed solution is to set up a credit reporting company approved by PBoC”. But there are also opinions that state control could affect the ability to collect and analyze information for Ant Group’s core business units, including consumer lending. “Ant Group really wants to hold on to its most valuable assets,” said a source. The central bank of China will release a report this Sunday on the creation of a state-controlled data company. However, neither Ant Group nor the PBoC have yet to comment on this. Phuong Anh (According to Financial Times)

The hobby of the world’s richest billionaire Jeff Bezos, the founder of e-commerce empire Amazon, is extremely expensive. He spends his time exploring the ocean looking for NASA rockets that were dropped during space launch. He spent three weeks on an underwater “rocket hunt,” according to Entrepreneur. Photo: David Ryder / The Washington Post. Google cofounder Sergey Brin, who is worth $ 94.8 billion, is passionate about thrilling sports, including skydiving or flying trapeze. He even persuaded some brave Google employees to play with them to form a team, according to Tatler. Photo: Google+. Chinese billionaire Jack Ma, who has a net worth of $ 47.3 billion, is passionate about performing arts on stage. The former Alibaba Group CEO has appeared on the stages of many Chinese music festivals. Jack Ma’s most famous performance was the impersonation of Michael Jackson at his company’s 2017 annual party. Photo: TPG / Getty Images. 25-year-old young man Eric Tse in Hong Kong (China) became a billionaire in just one night. In 2019, Eric Tse’s father decided to “give” his son a 21.45% stake in Sino Biopharmaceutical Pharmaceutical Group, equivalent to $ 3.8 billion. Besides attending parties with singer Rihanna, basketball star Yao Ming, model Bella Hadid and Prince Charlene of Monaco, billionaire Eric is also a lover of outdoor sports including paragliding. , fly over the French Alps and swim with dolphins in the Bahamas. William Belo, a Filipino billionaire with a fortune of $ 1 billion, not only owns a chain of 57 furniture and home improvement stores, but is also known for his unique hobby: raising crocodiles. Photo: Forbes. According to Bloomberg, Mr. Belo has two farms of 23,000 crocodiles raised for commercial use. Their skins are sold to luxury brands such as LVMH, while meat used to make Hungarian sausages and Filipino food called sisig.