A hopeful sign is that many e-commerce companies

    • 125 posts
    September 17, 2018 4:16 AM EDT

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    PARIS, March 17 (Xinhua) -- Bayern Munich and Real Madrid, who have won 16 titles between them, were drawn into a highly-anticipated Champions League quarterfinal clash at Friday's ceremony in the UEFA headquarters.

     

    Bayern and defending champions Real had ten ties in knockout stage, sharing five wins apiece. Bayern's head coach Carlo Ancelotti won the CL title with Real three years ago.

     

    "The match against Real Madrid will be special for me. It is going to be exciting to play against them," said Ancelotti, adding that his side wanted to win the Champions League this season.

     

    Juventus got the opportunity to revenge their loss in 2015 final against Barcelona, five-time winner of the tournament.

     

    Underdogs Leicester, who made last eight in their CL debut, will face last season's runners-up Atletico Madrid. The remaining matchup is between Dortmund and Monaco, who have never met before.

     

    The first leg of CL quarterfinals will take place on April 11-12, with return leg on April 18-19.

     

    Also on Friday, Europa League quarterfinalists confirmed their opponents ahead. Manchester United, aiming for the title to secure one next season's CL qualification spot, will play against Belgian side Anderlecht, while Lyon is set to meet Beskitas of Turkey.

     

    The other two encounters are Celta Vigo vs Genk, Ajax vs Schalke. The two legs of Europa League quarterfinals will be held on April 13 and 20.

     

     

     

    by Xinhua writer Huang Xin

     

    BEIJING, Nov. 11 (Xinhua) -- After eight years of wild growth, China's e-commerce industry is seeking new ways to prosper.

     

    The Singles' Day online shopping bonanza, which happens in China on November 11 every year, showcases the rise of online retailing platforms such as Vipshop, JD and Alibaba.

     

    While turnover of domestic e-commerce companies ballooned from 52 million yuan (7.6 million U.S. dollars) in 2009 to 91.2 billion yuan in 2015, traditional "bricks and mortar" retailers are losing ground.

     

    British retailing giant Marks & Spencer announced on Wednesday that it will shut its 10 stores on the Chinese mainland and lay off more than 400 workers, the latest in a growing list of major western retailers such as Best Buy and Tesco to pull out of a difficult market.

     

    Though e-commerce has seen explosive growth over the past eight years, widespread fraud now haunts online retailers that fail to take appropriate measures.

     

    Just before Singles' Day, the State Administration for Industry and Commerce held talks with the country's 15 leading e-commerce companies, telling them that price fraud, false advertising, unfair competition, sales of fake and shoddy goods, as well as scalping were strictly prohibited.

     

    Even for sales-record holder Alibaba, Singles' Day is a double-edged sword. The company's earnings and share price usually slump in the first quarter of the year after climbing to giddy half-year or full-year highs in November.

     

    "E-Commerce should not develop like a campaign because the economy needs steady growth," said Zhang Li, an e-commerce expert with the Ministry of Commerce.

     

    Zhang noted that generally speaking, e-commerce has a positive impact on the real economy and national economic development. "If it brings a negative impact, the investment-driven business mode should be blamed," she said.

     

    Set to tap the country's growing e-commerce industry, a huge amount of capital has flooded into the sector, but the pace of consumption growth has failed to match the rapid expansion of online platforms. That has led to price wars between e-commerce companies, which have hurt traditional retailers.

     

    A hopeful sign is that many e-commerce companies are reflecting on issues such as how to integrate online and offline marketing and the influence of Singles' Day on inventories.

     

    Meanwhile, e-commerce has become rational and moved to abandon price wars, highlighting new trends such as respect for individuality, global connectivity and increased consumption. In addition, the Internet economy has given birth to intelligent logistics and cloud-based infrastructure.

     

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