The cyberspace administration and police department related to China’s industry ministry said on Tuesday, it had summoned the cloud units of both Alibaba and Baidu Inc. urging them to better prevent telecom network fraud. according to a report in Reuters quoting the country’s industry ministry sources. The Ministry of Industry and Information Technology (MIIT) cybersecurity […]
Alibaba
E-commerce giant Alibaba Group’s shares plummeted on Thursday in both New York and Hong Kong listings by more than 10 percent, following the giant’s drastic cut in sales, led by slow growth in China’s consumer spending. Following the quarterly results, Alibaba revealed expectations of reaching a 20 to 30 percent rise in sales in the […]
In a regulatory maneuver to reel in Alibaba, the Chinese government asked the retail giant to submit some of its recently owned media assets, resulting in the company disposing of its 5 percent stake in its Chinese broadcaster, Mango Excellent Media Co Ltd. In March, following a thorough investigation into the tech giant’s media assets, […]
Amidst Beijing’s latest regulatory wave to impose dominion on its tech sector, China’s Big Tech shares drastically dropped on Monday as the country’s watchdogs intend to break down Ant Group Co.’s Alipay, at a speed the U.S. and the European Union cannot fathom or dare to indulge in. Following a Financial Times report stating that Beijing is […]