Chinese Tech Stock Weekly Summary

Alibaba Group revealed its decision to combine the group's human and material resources in the coming three to five years as it begins a strategy focusing on talent. The company said it is also forming a team to respond to the changing e-commerce market. Media sources appear to validate this move as they report that four executives from Alibaba, including its COO Li Qi, CTO Wu Jiong, Executive Vice President Sun Tongyu and Senior Vice President Li Xuhui, will collectively resign from their current positions and spend time studying. The leave of the four executives is said to be part of Alibaba's newly launched talent strategy. Alibaba also disclosed that it will call back Zeng Ming, president of Yahoo (YHOO) China, to work as chief of staff for the group, transfer Senior Vice President Lu Zhaoxi to work as president of Taobao.com, Senior Vice President Jin Jianhang as president of Yahoo China, and vice president Shao Xiaofeng as executive president of Alipay. The company, however, has not said anything about who will be its candidates for the positions of COO and CTO.