China’s emerging middle-class buyers were set to generate significant spending power in coming years as more people wanted to buy “affordable luxuries,” according to marketing advisers in Hong Kong. The trend would be seen in not only first-tier cities like Shanghai and Beijing, but also their satellite towns and second-tier cities, the advisers told a recent business forum […]
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Alibaba.com, the largest business-to-business portal in China underwent its first day of public share trading in Honk Kong, and the results exceeded all expectations, as the price tripled, raising $1.5 billion. The public offering is expected to raise nearly $2 billion in Hong Kong, making its debut offering as large as Google’s 2004 I.P.O. in the United States. ‘We are pleased to welcome investors from Hong Kong and around the world to join us in building a world-class e-commerce company,’ said Jack Ma, non-executive chairman of the company and chairman and chief executive officer of Alibaba Group…