Welcome To The New Social Shoppers

Digital media and entertainment drive retail and advertising growth of online economy for Alibaba and Tencent

Social media is transforming the online shopping business in China and fueling growth for the internet's big two players.

Alibaba Group Holding Ltd reported that revenue jumped by a staggering 56 percent to 50.2 billion yuan ($7.4 billion) in the quarter which ended on June 30 compared to the same period last year.