DOCSLIB.ORG

Our History and Corporate Structure

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Our History and Corporate Structure OUR HISTORY AND CORPORATE STRUCTURE We are a holding company established under the Cayman Companies Law on June 28, 1999. We conduct our business in China through our subsidiaries and variable interest entities, as well as in other countries and regions. The following is a summary of our key business milestones: Calendar Year China Internet Population* China Mobile Internet Population* 1999 Alibaba founded in Jack Ma’s 9Mn apartment in Hangzhou NA Alibaba.com launched 1688.com (formerly known as Alibaba.com.cn) launched 2003 80Mn Taobao Marketplace launched NA (Taobao) 2004 Alipay launched 94Mn NA 2007 210Mn Alimama monetization 50Mn platform launched 2008 Tmall launched 298Mn 118Mn 2009 384Mn Alibaba Cloud founded 233Mn 2010 AliExpress launched 457Mn 303Mn Taobao App launched 2011 513Mn Alipay divested 356Mn * Source for China Internet Population and China Mobile Internet Population: CNNIC. Note: Data on China Mobile Internet Population was not disclosed until 2006. – 165 – OUR HISTORY AND CORPORATE STRUCTURE Calendar Year China Internet Population* China Mobile Internet Population* 2014 Tmall Global launched 649Mn 557Mn UCWeb majority ownership acquired Amap majority ownership acquired Ant Financial 33% stake acquisition agreed Listed on NYSE Fliggy rebranded as an independent business 2015 688Mn DingTalk launched 620Mn Alibaba Health majority ownership acquired Koubei established Lingshoutong launched 2016 Freshippo (known as “Hema” 731Mn in Chinese) launched 695Mn Youku privatized Lazada majority ownership acquired 2017 772Mn Intime privatized 753Mn Tmall Genie launched Cainiao Network majority ownership acquired 2018 Ele.me majority ownership 829Mn acquired 817Mn (ele.me) 11.11 global shopping festival: our China retail marketplaces, Lazada and AliExpress generated GMV of RMB213.5Bn (US$30.8Bn) Ele.me and Koubei integrated into local consumer services business 2019 854Mn(1) Alibaba Pictures majority 847Mn(1) ownership acquired Kaola acquired (Kaola) Ant Financial 33% equity interest received(2) * Source for China Internet Population and China Mobile Internet Population: CNNIC. As of calendar year end, unless otherwise stated. (1) As of June 30, 2019. (2) Pursuant to the 2014 transaction agreements and the relevant amendments to these agreements. – 166 – OUR HISTORY AND CORPORATE STRUCTURE Major Acquisitions and Investments In addition to organic growth, we have made, or have entered into agreements to make, strategic investments, acquisitions and alliances that are intended to further our strategic objectives. See “Financial Information — Recent Investment, Acquisition and Strategic Alliance Activities” for further details on our major acquisitions and strategic investment and alliance activities during the Track Record Period and the period through the Latest Practicable Date. Our Major Subsidiaries and Operating Entities The principal business activities and date of establishment of each of our Major Subsidiaries, are shown below: Name of Date and Jurisdiction company Principal Business Activities of Establishment Taobao (China) An indirect subsidiary of Taobao Holding and a December 7, 2004, PRC Software Co., Ltd. (淘 wholly-foreign owned enterprise and primarily 寶(中國)軟件有限公司) involved in the operation of Taobao Marketplace. Zhejiang Taobao An affiliated consolidated entity of Taobao (China) September 4, 2003, Network Co., Ltd. (浙 Software Co., Ltd. (淘寶(中國)軟件有限公司) and PRC 江淘寶網絡有限公司) primarily involved in the operation of Taobao Marketplace. Zhejiang Tmall An indirect subsidiary of Taobao Holding and a October 25, 2010, PRC Technology Co., Ltd. wholly-foreign owned enterprise and primarily (浙江天貓技術有限 involved in the operation of Tmall. 公司) Zhejiang Tmall An affiliated consolidated entity of Zhejiang Tmall March 28, 2011, PRC Network Co., Ltd. (浙 Technology Co., Ltd. (浙江天貓技術有限公司) and 江天貓網絡有限公司) primarily involved in the operation of Tmall. Hangzhou Cainiao Our indirect subsidiary and primarily involved in the October 27, 2016, PRC Supply Chain operation of Cainiao Network. Management Co., Ltd. (杭州菜鳥供應鏈管理有 限公司) Zhejiang Alibaba Cloud Our indirect subsidiary and primarily involved in the December 13, 2011, Computing Ltd. (浙江阿 operation of our cloud computing business. PRC 里巴巴雲計算有限公司) Alibaba Cloud An affiliated consolidated entity of Zhejiang Alibaba April 8, 2008, PRC Computing Ltd. (阿里雲 Cloud Computing Ltd. (浙江阿里巴巴雲計算有限公 計算有限公司) 司) and primarily involved in the operation of our cloud computing business. – 167 – OUR HISTORY AND CORPORATE STRUCTURE Name of Date and Jurisdiction company Principal Business Activities of Establishment Alibaba (China) Our indirect subsidiary and primarily involved in the September 9, 1999, Technology Co., Ltd. operation of Alibaba.com, 1688.com and AliExpress. PRC (阿里巴巴(中國)網絡技 術有限公司) Hangzhou Alibaba An affiliated consolidated entity of Alibaba (China) December 7, 2006, PRC Advertising Co., Ltd. Technology Co., Ltd. (阿里巴巴(中國)網絡技術有限 (杭州阿里巴巴廣告有限 公司) and primarily involved in the operation of 公司) Alibaba.com, 1688.com and AliExpress. Youku Internet An indirect subsidiary of Alibaba Investment and November 14, 2005, Technology (Beijing) primarily involved in the operation of Youku’s PRC Co., Ltd. (優酷網絡技術 business. (北京)有限公司) Youku Information An affiliated consolidated entity of Beijing Youku February 24, 2006, PRC Technology (Beijing) Technology Co., Ltd. (北京優酷科技有限公司) and Co., Ltd. (優酷信息技術 primarily involved in the operation of Youku’s (北京)有限公司) business. Reasons for the Listing In September 2014, we completed an initial public offering and listing of our ADSs on the NYSE. We believe that the Listing on the Hong Kong Stock Exchange will present us with an opportunity to further expand our investor base and broaden our access to capital markets. Corporate Structure As of June 30, 2019, we conducted our business operations across approximately 710 subsidiaries and consolidated entities incorporated in China and approximately 530 subsidiaries and consolidated entities incorporated in other jurisdictions. Like many large scale, multinational companies with businesses around the world and across industries, we conduct our business through a large number of Chinese and foreign operating entities as we continue to expand through organic growth and acquisitions and consolidations of new businesses. The chart below summarizes our corporate legal structure: – 168 – OUR HISTORY AND CORPORATE STRUCTURE Our Company 100% 100% Taobao Holding Limited Alibaba Investment Limited (Cayman Islands)(1) (British Virgin Islands)(1) 100% Taobao China Holding Limited (Hong Kong)(1) 100% 100% 50.3% 100% (through (through (through (through intermediate intermediate intermediate intermediate 100% holding holding holding holding Offshore entities) entities) entities) entities) Onshore Hangzhou Cainiao Supply Beijing Youku Taobao (China) Zhejiang Tmall Zhejiang Alibaba Alibaba (China) Chain Management Technology Software Co., Ltd. Technology Co., Ltd. Cloud Computing Ltd. Technology Co., Ltd. Co., Ltd.(2) Co., Ltd.(4) Youku Information Zhejiang Taobao Zhejiang Tmall Alibaba Cloud Hangzhou Alibaba Technology Network Co., Ltd.(3) Network Co., Ltd.(3) Computing Ltd.(3) Advertising Co., Ltd.(3) (Beijing) Co. Ltd.(3)(4) Equity interest Contractual arrangements Notes: (1) A holding company. (2) An indirect wholly-owned subsidiary of Cainiao Network. In November 2019, we subscribed for newly issued ordinary shares of Cainiao Network together with certain of Cainiao Network’s existing shareholders, and our equity interest in Cainiao Network increased to approximately 63%. See “Financial Information — Recent Investment, Acquisition and Strategic Alliance Activities — Logistics” for further details. The remaining 37% of equity interest is primarily beneficially owned by a number of investors with significant operational experience in logistics, retail and real estate in China. (3) Each of these variable interest entities is owned by a PRC entity owned and/or controlled by PRC citizens. (4) As of the date of this prospectus, as a result of our VIE Structure Enhancement, Beijing Youku Technology Co., Ltd. has replaced Youku Internet Technology (Beijing) Co. Ltd. as the designated wholly-owned entity to enter into contractual arrangements with Youku Information Technology (Beijing) Co. Ltd. and its shareholder. Shareholding Structure The following diagram illustrates our shareholding structure as of the Latest Practicable Date: Other directors and Other public SoftBank Jack Ma Joe Tsai executive officers as a group shareholders 25.8% 6.1% 2.0% 0.9% 65.2% Our Company Note: See “Major Shareholders” for the beneficial ownership of each of SoftBank, Jack Ma and Joe Tsai. – 169 – OUR HISTORY AND CORPORATE STRUCTURE The following diagram illustrates our shareholding structure immediately upon the completion of the Global Offering (assuming all major shareholders’ shareholding remain unchanged as of the Latest Practicable Date and the Over-allotment Option is not exercised): Other directors and Other public SoftBank Jack Ma Joe Tsai executive officers as a group shareholders 25.2% 6.0% 1.9% 0.9% 66.0% Our Company Contractual Arrangements among Our Wholly-Owned Entities, Variable Interest Entities and the Variable Interest Entity Equity Holders Due to legal restrictions on foreign ownership and investment in, among other areas, value- added telecommunications services, which include the operations of ICPs, we, similar to all other entities with foreign-incorporated holding company structures operating in our
Load more

Recommended publications
  • ALIBABA: Credibility Crisis- SPRING 2015
    ALIBABA: Credibility Crisis- SPRING 2015 © Leite T, Martin C, Montes C, Reyes S ALIBABA: CREDIBILITY CRISIS SYNOPSIS: For the past eight years, Alibaba has supported business growth throughout China and has begun to expand beyond China’s border aiming to become a leader in international markets. However, this path has not been easy. This case summarizes the challenges Alibaba Group has faced over the recent past, including global expansion, up-and-coming rivals, going public, and an emphasis on the accusations of counterfeiting. Alibaba’s reactions to its challenges are discussed along with the company’s outlook for the future. THEMES: Ecommerce, product strategy, competition, global expansion, positioning, ethics, intellectual property, governmental regulation, corporate reputation THE HISTORY OF ALIBABA In 1999, Jack Ma founded Alibaba Group. At the time, the company consisted of eighteen people. From its inception, Alibaba Group believed “the Internet would level the playing field by enabling small enterprises to leverage innovation and technology to grow and compete more effectively in the domestic and global economies.” With this conviction behind everything they do, Alibaba Group has become a global leader in mobile and online ecommerce. It all started with what is currently known as 1688.com. This website helped small Chinese manufacturers, exporters and entrepreneurs sell goods internationally. Now, Alibaba Group and its subsidiaries operate prominent wholesale and retail online marketplaces as well as a variety of internet- based services including advertising and marketing services, electronic payment, cloud-based computing, and mobile solutions to name a few. ECOMMERCE WEBSITES Taobao. Launched in May 2003, Taobao Marketplace has grown to be China’s largest shopping destination in terms of gross merchandise volume.
    [Show full text]
  • Smart Speakers & Their Impact on Music Consumption
    Everybody’s Talkin’ Smart Speakers & their impact on music consumption A special report by Music Ally for the BPI and the Entertainment Retailers Association Contents 02"Forewords 04"Executive Summary 07"Devices Guide 18"Market Data 22"The Impact on Music 34"What Comes Next? Forewords Geoff Taylor, chief executive of the BPI, and Kim Bayley, chief executive of ERA, on the potential of smart speakers for artists 1 and the music industry Forewords Kim Bayley, CEO! Geoff Taylor, CEO! Entertainment Retailers Association BPI and BRIT Awards Music began with the human voice. It is the instrument which virtually Smart speakers are poised to kickstart the next stage of the music all are born with. So how appropriate that the voice is fast emerging as streaming revolution. With fans consuming more than 100 billion the future of entertainment technology. streams of music in 2017 (audio and video), streaming has overtaken CD to become the dominant format in the music mix. The iTunes Store decoupled music buying from the disc; Spotify decoupled music access from ownership: now voice control frees music Smart speakers will undoubtedly give streaming a further boost, from the keyboard. In the process it promises music fans a more fluid attracting more casual listeners into subscription music services, as and personal relationship with the music they love. It also offers a real music is the killer app for these devices. solution to optimising streaming for the automobile. Playlists curated by streaming services are already an essential Naturally there are challenges too. The music industry has struggled to marketing channel for music, and their influence will only increase as deliver the metadata required in a digital music environment.
    [Show full text]
  • Aliexpress's Strategic Choice for Entering the E-Commerce Market in Thailand Yan Shijie 5917195406 an Independent Study Submitte
    ALIEXPRESS'S STRATEGIC CHOICE FOR ENTERING THE E-COMMERCE MARKET IN THAILAND YAN SHIJIE 5917195406 AN INDEPENDENT STUDY SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION GRADUATE SCHOOL OF BUSINESS SIAM UNIVERSITY 2018 ALIEXPRESS'S STRATEGIC CHOICE FOR ENTERING THE E-COMMERCE MARKET IN THAILAND ABSTRACT Title: Aliexpress's Strategic Choice For Entering the E-Commerce Market in Thailand By: Yan Shijie Degree: Master of Business Administration Major: Business Administration Advisor: (Associate Professor Wei Qifeng) / / In recent years, China's traditional export trade has slowed, but cross-border e-commerce has developed momentum. Cross-border e-commerce has the characteristics of shortening the trading phase and reducing costs, bypassing the traditional trade intermediary links, making it possible for producers to directly face end consumers, both to raise profits and to lower commodity prices. Because domestic e-commerce market is beginning to enter the saturated period, Chinese enterprises seek new markets abroad in order to get rid of fierce competition from the country. When an enterprise wants to gain access to foreign markets, it is necessary to analyze the country's environment and understand the local market and industry's specific circumstances. SWOT is a common strategic analysis tool. This paper mainly studies the strategy selection of China's cross-border e-commerce platform into Thailand, and is an example of Alibaba's AliExpress, which shows whether it should enter the Thai market and how it should be entered. Based on the 4M analysis, 7 'S analysis, PEST analysis and Porter's five-force model, this paper analyzes the internal and external environment, finds out the strengths and weaknesses of the platform, the opportunities and threats existing in Thailand's market and uses five points to quantify the four factors.
    [Show full text]
  • China Online Retailer Alibaba Buys Into Digital Map Firm 10 May 2013, by Amanda Wang
    China online retailer Alibaba buys into digital map firm 10 May 2013, by Amanda Wang Alibaba and Nasdaq-listed AutoNavi would form a strategic alliance to develop "location based" e- commerce opportunities as part of the deal, according to a joint statement on AutoNavi's website. "This new alliance reflects our vision for the future of the mobile Internet," Alibaba founder Jack Ma, who on Friday stepped down as the group's chief executive officer to become chairman, said in the statement. Alibaba operates China's most popular e-shopping platform, Taobao, which has more than 90 percent of the online market for consumer-to-consumer View of Alibaba's headquarters in Hangzhou, in eastern transactions in the country. Taobao has more than China's Zhejiang province, on May 21, 2012.China's 800 million product listings and over 500 million online retail giant Alibaba aims to expand beyond its users. home market by targeting overseas Chinese through its flagship e-commerce website Taobao. Alibaba aims to expand beyond its home market by targeting overseas Chinese through Taobao, an executive told a news conference Friday at the company's headquarters in Hangzhou city. Chinese online retail giant Alibaba said Friday it would pay $294 million for a 28 percent stake in "We hope to provide services to markets of China's leading digital map provider, AutoNavi, its overseas Chinese consumers first so we can have second big purchase in two weeks. the experience and ability to further promote Taobao in other markets of non-Chinese Alibaba, the world's largest online retailer, bought consumers," said Daphne Lee, director of overseas an 18 percent stake in China's dominant microblog business for Taobao.
    [Show full text]
  • March Quarter 2020 and Full Fiscal Year 2020 Results
    March Quarter 2020 and Full Fiscal Year 2020 Results May 22, 2020 Disclaimer This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States (“GAAP”), including adjusted EBITDA (including adjusted EBITDA margin), adjusted EBITA (including adjusted EBITA margin), marketplace-based core commerce adjusted EBITA, non-GAAP net income, non-GAAP diluted earnings per share/ADS and free cash flow. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, see GAAP to Adjusted/Non-GAAP Measures Reconciliation. This presentation contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Among other things, statements that are not historical facts, including statements about Alibaba’s strategies and business plans, Alibaba’s beliefs, expectations and guidance regarding the growth of its business and its revenue, the business outlook and quotations from management in this presentation, as well as Alibaba’s strategic and operational plans, are or contain forward-looking statements. Alibaba may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.
    [Show full text]
  • Successful Entrepreneurship in China
    Network Intelligence Studies Volume VII, Issue 14 (2/2019) Sorin-George I. TOMA Faculty of Business and Administration, University of Bucharest, Bucharest, Romania Perspective, SUCCESSFUL opinion and ENTREPRENEURSHIP IN CHINA: commentary THE CASE OF JACK MA Keywords Entrepreneurship; Jack Ma; China; Alibaba JEL Classification L26, M10 Abstract In the last decades entrepreneurship has received substantial interest from both researchers and practitioners all over the world. The determinants of successful entrepreneurship are diverse and numerous, such as intelligence, innovation, economic context, entrepreneurial policy, education, experience, perseverance, and leadership. Today’s modern China provides many business opportunities, efficient financial markets and legal institutions, and entrepreneurial ecosystems for successful entrepreneurship. The goal of the paper is to present the case of Jack Ma, one of today’s Chinese successful entrepreneurs. The research is based on a case study. The paper demonstrates that Ma, the co-founder of Alibaba, has succeeded in achieving the status of a successful entrepreneur both in China and worldwide. 121 Network Intelligence Studies Volume VII, Issue 14 (2/2019) INTRODUCTION section presents the results of the research. The paper ends with conclusions. In the last decades entrepreneurship has received substantial interest from both researchers and practitioners all over the world. Entrepreneurship LITERATURE REVIEW provides jobs, creates entrepreneurial ecosystems, leads to firm formation, ensures economic There is a plethora of studies and researches dynamism, and contributes to economic growth and regarding the topic of entrepreneurship in China. development (Decker et al., 2014; Stam and Spigel, After the end of the Second World War, China 2016; Toma et al., 2014; Wennekers and Thurik, became a communist state.
    [Show full text]
  • 450 Million 100,000 $485 Billion $25 Billion 300+ Million $4.6 Trillion
    Alibaba Group is an internet company that aims to make it easy to do business anywhere. Alibaba operates a range of online marketplaces that connects buyers and sellers, with the company providing the technology infrastructure to help merchants, brands and small businesses all over the world reach Chinese consumers. Alibaba’s ecosystem includes e-commerce platforms, cloud computing, digital media and entertainment, payments and financial services, logistics, and local services. ALIBABA BY THE NUMBERS 450 million 100,000 $485 billion $25 billion mobile monthly active users brands selling on of gross merchandise value in the year initial public offering (IPO) on the visiting Alibaba’s platforms(1) Alibaba’s platforms ended March 31, 2016 NYSE in September 2014 (world’s largest retailer)(2) CHINA MARKET OPPORTUNITY FOR US BUSINESSES LARGE AND GROWING HUGE SPENDING STRONG DEMAND FOR USING INTERNET TO MIDDLE CLASS POWER US GOODS BUY IMPORTS 300+ million $4.6 trillion >$500 billion >$150 billion middle class consumers in China aggregate net cash reserves of US goods exported to China in the expected cross-border e-commerce with high demand for US products(3) Chinese households(4) past five years(5) sales in China by 2020(6) JACK MA MICHAEL EVANS Jack Ma is the lead founder and executive chairman Michael Evans is President of Alibaba Group, of Alibaba Group. He founded Alibaba in 1999 with leading the company’s international strategy 17 friends in his apartment in Hangzhou, China. outside of China by helping brands, retailers Jack serves on the board of SoftBank, and he is also and merchants all over the world join Alibaba’s chair of The Nature Conservancy’s China board of platforms.
    [Show full text]
  • (2019). Bank X, the New Banks
    BANK X The New New Banks Citi GPS: Global Perspectives & Solutions March 2019 Citi is one of the world’s largest financial institutions, operating in all major established and emerging markets. Across these world markets, our employees conduct an ongoing multi-disciplinary conversation – accessing information, analyzing data, developing insights, and formulating advice. As our premier thought leadership product, Citi GPS is designed to help our readers navigate the global economy’s most demanding challenges and to anticipate future themes and trends in a fast-changing and interconnected world. Citi GPS accesses the best elements of our global conversation and harvests the thought leadership of a wide range of senior professionals across our firm. This is not a research report and does not constitute advice on investments or a solicitations to buy or sell any financial instruments. For more information on Citi GPS, please visit our website at www.citi.com/citigps. Citi Authors Ronit Ghose, CFA Kaiwan Master Rahul Bajaj, CFA Global Head of Banks Global Banks Team GCC Banks Research Research +44-20-7986-4028 +44-20-7986-0241 +966-112246450 [email protected] [email protected] [email protected] Charles Russell Robert P Kong, CFA Yafei Tian, CFA South Africa Banks Asia Banks, Specialty Finance Hong Kong & Taiwan Banks Research & Insurance Research & Insurance Research +27-11-944-0814 +65-6657-1165 +852-2501-2743 [email protected] [email protected] [email protected] Judy Zhang China Banks & Brokers Research +852-2501-2798
    [Show full text]
  • Alibaba Group Announces March Quarter 2018 Results and Full Fiscal Year 2018 Results
    Alibaba Group Announces March Quarter 2018 Results and Full Fiscal Year 2018 Results Hangzhou, China, May 4, 2018 – Alibaba Group Holding Limited (NYSE: BABA) today announced its financial results for the quarter ended March 31, 2018 and fiscal year then ended. “Alibaba Group had an excellent quarter and fiscal year, driven by robust growth in our core commerce business and investments we have made over the past several years in longer-term growth initiatives,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “With the continuing roll out of our New Retail strategy, our e-commerce platform is developing into the leading retail infrastructure of China. During the past year we also doubled down on technology development, cloud computing, logistics, digital entertainment and local services so that we are in a position to capture consumption growth in China and other emerging markets.” “Fiscal 2018 culminated with a quarter we are very proud of. Full year revenue grew 58%, core commerce revenue grew 60%, with profit growth of over 40% and annual free cash flow of US$15.8 billion,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “Looking ahead to fiscal 2019, we expect overall revenue growth above 60%, reflecting our confidence in our core business as well as positive momentum in new businesses. We expect our new growth initiatives will drive long-term, sustainable value for our customers and partners and increase our total addressable market.” BUSINESS HIGHLIGHTS In the quarter ended March 31, 2018: Revenue was RMB61,932 million (US$9,873 million), an increase of 61% year-over-year.
    [Show full text]
  • Jafri, Juvaria.Pdf
    City Research Online City, University of London Institutional Repository Citation: Jafri, J. (2019). Bifurcated banking: the political economy of inclusive finance in Pakistan. (Unpublished Doctoral thesis, City, University of London) This is the accepted version of the paper. This version of the publication may differ from the final published version. Permanent repository link: https://openaccess.city.ac.uk/id/eprint/23914/ Link to published version: Copyright: City Research Online aims to make research outputs of City, University of London available to a wider audience. Copyright and Moral Rights remain with the author(s) and/or copyright holders. URLs from City Research Online may be freely distributed and linked to. Reuse: Copies of full items can be used for personal research or study, educational, or not-for-profit purposes without prior permission or charge. Provided that the authors, title and full bibliographic details are credited, a hyperlink and/or URL is given for the original metadata page and the content is not changed in any way. City Research Online: http://openaccess.city.ac.uk/ [email protected] BIFURCATED BANKING: THE POLITICAL ECONOMY OF INCLUSIVE FINANCE IN PAKISTAN JUVARIA JAFRI A thesis submitted to City, University of London for the degree of DOCTOR OF PHILOSOPHY Department of International Politics, School of Arts and Social Sciences, City, University of London June 2019 0 1 TABLE OF CONTENTS TABLE OF CONTENTS ........................................................................................................................................
    [Show full text]
  • Aliexpress Shipping Times Strongly Recommend
    Aliexpress Shipping Times Strongly Recommend Sometimes skillful Erin pompadours her sommelier impishly, but unenthusiastic Drake gollops presentably or alerts hieroglyphically. Sandy two-time his Delibes nebulised hiddenly or subtilely after Siffre relayed and nitrogenizing approximately, blinded and runtier. Chargeable Flynn surprises unfearfully. When aliexpress shipping modes offered to buy The seller agreed to refund if the item is unused and if I return the item. Parcel is returning to sender. The resource requested could not be found on this server! As you can tell my stamping techniques got better as I practiced more! Alibaba vs AliExpress Which rate is gene for Dropshipping. Improving your offers with the additions, but if you were listing hundreds of goods it starts to add up. All of these are shipped to CANADA. Should be all done when you check tomorrow morning. This displays what additional protections you have with this seller. Also it hasnt reflected on my bank account yet. Once they send you a copy of the shipping documents. The high volume of users on the platform has attracted online sellers looking to find customers for their products. The uploaded file is too large for the server to process. Populate all the information for listings, coleccionismo, you will also be notified that the product was not successfully delivered. For India, and mobile phone products, and gaming. Is that not the case? Tracking information can be valuable to customers wanting to know the location of their delivery. One cannot actually buy and sell items on the Facebook marketplace. Many people are shocked to find these hidden charges, you can earn a significant income from home, Thailand and India.
    [Show full text]
  • Smooth Succession: Jack Ma Eases out of a Thriving Alibaba 8 September 2019, by Kelly Wang, Dan Martin
    Smooth succession: Jack Ma eases out of a thriving Alibaba 8 September 2019, by Kelly Wang, Dan Martin commerce's cutting-edge. Ma was Alibaba's driving force and a frequently irreverent ambassador for the company, known for stunts like a Michael Jackson-inspired dance at an Alibaba anniversary celebration two years ago and starring in his own kung fu short film. 'Gold standard' He is expected to retain some advisory functions. But the transition to figures like CEO Daniel Zhang, and co-founder and executive vice chairman Joseph Tsai—announced exactly a year ago—may Jack Ma is a former English teacher whose often playful prove to be the "gold standard" for tech-company image shattered the stereotype of the drab Chinese succession, said Jeffrey Towson, an equity investor executive and professor at Peking University. "He's succeeded at what Steve Jobs, Bill Gates and (Yahoo co-founder) Jerry Yang failed at, which Jack Ma steps down next week as chairman of is making themselves redundant," said Towson, Alibaba, but the start-up he built into an online who has authored books on China's leading retail behemoth is expected to keep thriving into a companies. new era thanks to a culture of innovation he helped nurture. "He built a really robust culture at Alibaba and they are still just innovating like crazy." A former English teacher whose often playful image shattered the stereotype of the drab Ma was a cash-strapped Chinese entrepreneur Chinese executive, Ma officially leaves on when he convinced friends to give him $60,000 to Tuesday, his 55th birthday.
    [Show full text]