Alibaba, Grab, Tencent, Meituan Gear Up For Growth As China Bets On Services To Revive Economy
1. China's Commerce Minister highlighted consumer spending as key economic driver. 2. Alibaba expands Freshippo Stores, opening 100 new locations. 3. Ele.me invests $140 million to support merchants with lower fees. 4. Alibaba unveils open-sourced AI inference model, reducing deployment costs. 5. Trade-in policy boosts consumption, with broader subsidies expected in 2025.