China’s top leader warned that Beijing will go after so-called “platform” companies that have amassed data and market power, a sign that the months-long crackdown on the country’s internet sector is only just beginning.
Exclusive: Global investors value China s Ant Group at over $200 billion - sources netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
Chinese govt asks Alibaba to get rid of its media assets
The company, whose mainstay business is online retail, has stakes in the Twitter-like Weibo platform and several news outlets including Hong Kong s South China Morning Post
Reuters | March 16, 2021 | Updated 13:27 IST
China s government has asked Alibaba Group Holding Ltd to dispose of its media assets, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Discussions over the matter have been held since early this year, the report said, adding that officials were shocked at how expansive Alibaba s media interests have become.
The company, whose mainstay business is online retail, has stakes in the Twitter-like Weibo platform and several news outlets including Hong Kong s South China Morning Post.
The Jack Ma-promoted company, whose mainstay business is online retail, has stakes in the Twitter-like Weibo platform and several news outlets including Hong Kong`s South China Morning Post.
Read more about Global investors value China s Ant Group at over $200 billion: Report on Business Standard. The number is far short of the $315 billion Ant touted for what was set to be the world s largest IPO