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Alibaba said in its annual report that the two companies agreed to terminate their data sharing agreement on July 25, and will instead negotiate on a case-by-case basis. The move away from Ant comes after Alibaba experienced a difficult year, with stagnant revenue growth, capital market risks, as well as national security issues.
Jack Ma is taking a weeks-long tour in Europe after largely disappearing from public view for almost two years, adding to signs that China's government is easing pressure on the entrepreneur.
Jack Ma is taking a weeks-long tour in Europe after largely disappearing from public view for almost two years, adding to signs that China’s government is easing pressure on the entrepreneur as he steps back from a business empire that had made him one of the country’s most powerful people.
It comes during a period of tightening financial regulation in China
A regulatory crackdown scuppered its US$37 billion IPO 2020 and led to a forced restructuring. Read more at straitstimes.com.