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This is a China news story, published by CNBC, that relates primarily to Taobao news.

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Chinese consumer spending

CNBC

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Technology

Big Chinese companies like Alibaba show that AI-powered ads are giving shopping a boost

Summary

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E-commerce giant Alibaba said its Taobao and Tmall group sales rose by 9% year on year to 101.37 billion yuan ( $13.97 billion ) for the three months ended March 31 .

Alibaba's earnings were positive surprises as there were expectations tariffs would affect consumer behavior.

A Morgan Stanley survey from April 8 to 11 , conducted immediately after the escalation in U.S.-China tensions, found that consumer confidence fell to a 2.5-year low.

China is set to release retail sales data for April on Monday .

Analysts predict a 5.5% year-on-year increase in retail sales for April , down slightly from 5.9% growth in March .

June 18 marks the next major promotional season for shopping in China .

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