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Alibaba International Wraps Up 2024 Global E-Commerce Challenge, Highlighting Youth Innovation

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HANGZHOU, China, Sept. 4, 2024 /PRNewswire/ — Alibaba International Digital Commerce Group (“Alibaba International”) today concluded its Global E-commerce Challenge (GEC) 2024 with a global finals event in Hangzhou, China, spotlighting exceptional young innovators worldwide.

Launched in 2021, the GEC aims to attract and engage young talents globally to shape the future of e-commerce. The 2024 edition of the competition, focused on exploring ways to elevate online shopping with artificial intelligence (AI), was open for applications to university students and recent university graduates. Participants were tasked to develop creative solutions to address the current inadequacies of online shopping in areas such as personalization, visual and voice searches, and cross-border e-commerce. As they advanced through the competition, they received guidance and support from experts at Alibaba International and gained insights into the company’s AI initiatives as well as real-world e-commerce operations.

Since its kick-off in June, this year’s competition has drawn overwhelming responses from over 1,000 individuals in more than 500 teams, representing regions including Europe, the Americas, East Asia and Southeast Asia. After two rounds of rigorous selection, 11 teams consisting of a total of 39 participants advanced to the global finals held in Hangzhou today to compete for the top three spots. The finalists presented their AI-based proposals to a panel of industry experts, consisting of Kaifu Zhang, Vice President of Alibaba International, who leads the company’s AI initiatives; Lillian Jiang, Chief People Officer of Alibaba International; Carlos Barrera, Chief Executive Officer of Lazada Philippines; Ying Peng, General Manager of AliExpress; and Jin Qin, Investment Director at Alibaba International.

Three teams were selected as the final winners following comprehensive evaluation based on criteria including AI-Driven Innovation (25%), AI Integration Capability (20%), Technical Execution (20%), Consumer Experience (25%), and Presentation Quality (10%). Team CrashCourse, comprising students from Singapore Management University, secured the first place for their innovative approach and outstanding teamwork and brought home an award of travel vouchers valued at US$10,000. Team The Echelon Group, consisting of students from Johns Hopkins University and University of Maryland, College Park, and Team Saturdays, consisting of students from Bandung Institute of Technology, respectively won the second and third places and were awarded travel vouchers worth US$5,000 and US$3,000, respectively. Additionally, Alibaba International will offer internship opportunities to all participants who reached the global finals.

“The GEC 2024 has truly showcased the remarkable potential of our young talents today. Their innovative AI solutions have the power to transform the future of e-commerce, and we are thrilled to witness their energy and technical prowess here in Hangzhou,” said Kaifu Zhang, Vice President of Alibaba International.

“We are thrilled to have had the opportunity to present our ideas to esteemed industry experts through the GEC 2024. This unique experience not only pushed our boundaries but also provided us with invaluable insights into digital commerce. Winning the challenge has been a humbling honor, and we are excited to apply what we have learned during the competition to drive innovation in the e-commerce industry,” said Zane Chee from Team CrashCourse.

The GEC 2024 global finals ended on a high note in an award ceremony, with representatives of Alibaba International welcoming the winners as interns with the company.

Sheryl Ho, Project Manager of Alibaba International GEC 2024, added, “We are incredibly pleased to have an opportunity to help nurture the next generation of global e-commerce talents through a global competition. The dedication and teamwork displayed by the participants are inspiring, and we are excited to welcome some of these brilliant young minds as interns at our company. We look forward to seeing their ideas make a real impact in the e-commerce industry.”

French student Melissa from Peking University, who interned at Alibaba International following last year’s GEC, remarked: “This thrilling internship journey has deepened my understanding of the Chinese market. The immersive experiences have also significantly boosted my professional skills, sharpening my edge in competitor analysis, data analysis, cross-team collaboration and problem-solving.”

For more information and updates on Alibaba International GEC 2024, please visit https://aidc-jobs.alibaba.com/GEC/index/program

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About Alibaba International Digital Commerce Group

Alibaba International Digital Commerce Group is dedicated to supporting the development of global digital trade with AI-powered technology. It operates various platforms with distinctive business models, covering multiple countries and regions around the world.

Media Contacts
Lingshan Lu
PR Manager
Alibaba International Digital Commerce
lulingshan.lls@alibaba-inc.com

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SOURCE Alibaba International

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iMarketKorea Signs Two MOUs with Vietnam’s Phu Tho Provincial People’s Committee and BIDV

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Participates in Korea-Vietnam Economic Delegation

Accelerates development of an industrial park in Phu Tho Province near Hanoi, while attracting advanced manufacturing companies and building a supply chain ecosystemPlans parallel development of an Inland Container Depot (ICD) to strengthen logistics competitivenessExpands discussions with Bank for Investment and Development of Vietnam (BIDV) on financial support measures and new business opportunities

HANOI, Vietnam and SEOUL, South Korea, April 27, 2026 /PRNewswire/ — iMarketKorea, a leading industrial materials distribution company led by CEO Kim Hak-jae, announced that it has signed two Memoranda of Understanding (MOUs) with the Phu Tho Provincial People’s Committee and Bank for Investment and Development of Vietnam during the MOU signing session at the Korea-Vietnam Business Forum, hosted by Korea’s Ministry of Trade, Industry and Energy and the Korea Chamber of Commerce and Industry. The company participated in the official Korea-Vietnam economic delegation.

As Vietnam’s investment environment continues to advance, cooperation in production infrastructure such as industrial parks has become increasingly important. Based on prior discussions with Phu Tho Province, iMarketKorea formalized this partnership through the latest agreements.

Located near Noi Bai International Airport, Phu Tho Province is emerging as a strategic logistics hub and an attractive production base for global companies. The province recorded 10.52% gross regional domestic product (GRDP) growth in 2025, ranking fourth among Vietnam’s provinces.

Through the agreement, iMarketKorea plans to develop a national industrial park in Phu Tho Province and actively attract global manufacturing companies. The company also aims to build a supply chain-driven industrial ecosystem by strengthening collaboration among related businesses centered around the industrial complex.

To enhance logistics competitiveness, iMarketKorea will also pursue the development of an Inland Container Depot (ICD) with bonded warehousing functions. An ICD is an inland logistics hub enabling customs clearance and cargo handling. When integrated with the industrial park, it is expected to improve import-export efficiency and strengthen the region’s attractiveness to manufacturers.

Kim Hak-jae, CEO of iMarketKorea, said, “This agreement establishes the foundation for integrated production and logistics infrastructure. Through cooperation with the Phu Tho provincial government and BIDV, we plan to establish a one-stop support system covering administration, finance, legal matters, and taxation. We will also create an environment where high-tech parts and materials companies can effectively utilize local incentives and gradually expand future cooperation.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/imarketkorea-signs-two-mous-with-vietnams-phu-tho-provincial-peoples-committee-and-bidv-302753801.html

SOURCE iMarketKorea

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Global Customers Are Taking a Closer Look at Focused Photonics Inc.

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HANGZHOU, China, April 24, 2026 /PRNewswire/ — For scientific instrument companies competing globally, differentiation increasingly depends on more than product specifications alone. Customers are looking beyond performance claims to assess whether a company can consistently translate technology into manufacturable products, proven applications, reliable delivery and long-term service support.

That shift was evident during Focused Photonics Inc.’s (FPI) Global Customer Experience Day 2026 in Hangzhou, where customers and partners from dozens of countries visited the company’s Qingshanhu Innovation Base, headquarters and live application sites. For many attendees, the event offered a closer look at how a China-headquartered scientific instrument company is building capabilities across R&D, manufacturing, systems integration and lifecycle support.

At Qingshanhu Innovation Base, visitors saw key stages of FPI’s operations firsthand, including engineering, precision manufacturing, system integration, testing and service readiness. For many international customers, these visits are less about viewing a production line and more about assessing execution: whether a supplier has the engineering discipline, manufacturing depth and support infrastructure required to deliver consistently in real operating environments.

This is becoming increasingly important across the industry. As customer expectations evolve, competition is moving beyond stand-alone instrument performance toward integrated solutions, automation, data integrity, compliance and lifecycle value. In industrial and environmental applications in particular, uptime, stability and workflow fit often matter as much as analytical capability.

At its global customer conference, FPI outlined how it is responding to that transition, highlighting continued investment across environmental monitoring, industrial process analysis, laboratory analysis and life science applications. The company is also expanding the role of digitalization, automation and AI to improve application readiness and solution delivery.

Application-focused exchanges during the event reinforced the same point. In discussions on environmental, industrial and laboratory scenarios, customers focused not only on performance metrics, but also on regulatory fit, workflow integration, long-term operation under complex conditions, and the ability of solutions to function reliably once deployed. These are increasingly central criteria in global purchasing decisions.

The clearest proof came from real-world settings. At the Hangzhou Ecological Environment Monitoring Center, visitors saw FPI’s automated water quality laboratory in operation, where sample handling, workflow continuity and data generation are integrated into day-to-day use. For customers, this offered a more concrete view of how a solution performs not just in demonstration, but in routine operation.

Taken together, the event underscored a broader industry reality: global competition in scientific instruments is increasingly defined not only by what a product can do, but by whether a company can manufacture it at scale, deploy it effectively, support it locally and sustain performance over time. That broader operational capability is becoming a decisive part of how international customers evaluate suppliers.

View original content:https://www.prnewswire.com/news-releases/global-customers-are-taking-a-closer-look-at-focused-photonics-inc-302753822.html

SOURCE Focused Photonics Inc.

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Straits Financial Services Pte Ltd Granted Overseas Intermediary Futures Broker Status by Shanghai Futures Exchange and Guangzhou Futures Exchange

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SINGAPORE, April 27, 2026 /PRNewswire/ — Straits Financial Services Pte Ltd (“SFSPL”), a member of Straits Financial Group, is pleased to announce that it has been granted overseas intermediary (OI) futures broker status by the Shanghai Futures Exchange (SHFE) and the Guangzhou Futures Exchange (GFEX).

This recognition marks an important milestone in expanding international access to China’s futures markets and further strengthens SFSPL’s ability to connect global investors with onshore opportunities.

As an overseas intermediary futures broker, SFSPL will be able to facilitate client access to selected products listed on SHFE and GFEX. The overseas intermediary model significantly lowers barriers to entry for international participants by removing the need for complex onshore structures and enabling more efficient cross-border access, while operating within China’s regulated market environment.

“As China’s futures market continues to open up, this recognition represents a meaningful milestone for both SFSPL and our clients,” said Roger Quek, Chief Executive Officer and Managing Director, Straits Financial Services Pte Ltd. “We are pleased to support international investors with more seamless access to China’s onshore derivatives market, while maintaining a strong focus on risk management, compliance, and execution efficiency.”

As China’s derivatives market continue to evolve, SFSPL is strongly positioned to support clients looking to deepen their involvement in this high-potential market.

SFSPL remains committed to delivering robust trading capabilities, seamless market access, and trusted expertise to help clients navigate global investment opportunities.

About Straits Financial Services Pte Ltd

At Straits Financial Services Pte Ltd, we distinguish ourselves by promoting key and innovative contracts to support the financial and commodity derivative markets as well as providing products and services to fulfill the needs of every trader.

With a strong presence in Asia and a deep understanding of the global markets, we provide value to our clients by enabling global access with a local perspective. Established in 2010, Straits Financial Services Pte Ltd is part of Straits Financial Group which is headquartered in Singapore.

Straits Financial Services Pte Ltd provides a fully-integrated service for our clients to access the financial and commodity derivative markets and we strive to build lasting relationships with our clients.

For more information, please visit our website at https://www.straitsfinancial.com.

This document is issued for information purposes only. This document is not intended and should not under any circumstances to be construed as an offer or solicitation to buy or sell, nor financial advice or recommendation in relation to any capital market product. All the information contained herein is based on publicly available information and has been obtained from sources that Straits Financial Services Pte Ltd believes to be reliable and correct at the time of publishing this document.

Straits Financial Services Pte Ltd will not be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information. Past performance or historical record of futures contracts, derivatives contracts, and commodities is not indicative of the future performance. The information in this document is subject to change without notice.

If after reading the foregoing content you have any doubts in relation thereto, please consult your own independent legal, financial and/or professional adviser.

View original content:https://www.prnewswire.com/apac/news-releases/straits-financial-services-pte-ltd-granted-overseas-intermediary-futures-broker-status-by-shanghai-futures-exchange-and-guangzhou-futures-exchange-302752994.html

SOURCE Straits Financial

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