Alibaba


ByteDance valuation soars to $400bn as IPO talk intensifies 

ByteDance valuation soars to $400bn as IPO talk intensifies 

(ATF) ByteDance, the parent company of popular short video app TikTok, has reportedly set in motion an initial public offering (IPO) for Hong Kong with a US$400 billion valuation.The valuation of the Beijing-based start-up is swelling quickly as the market capitalisation of its rival Kuaishou has almost doubled since its …

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Ant Group ordered to restructure as a financial institution

Ant Group ordered to restructure as a financial institution

(ATF) China's central bank has ordered Ant Group to reorganise itself as a financial holding company, in a sweeping crackdown on Jack Ma's Ant Group, the fintech conglomerate that has spent months in the regulatory doghouse.The overhaul – which subjects Ant to tougher regulatory oversight and capital requirements – is …

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Ant rejig cools investor appetite for revived IPO

Ant rejig cools investor appetite for revived IPO

(ATF) China's regulatory revamp of Jack Ma's Ant Group is set to transform the fintech giant into a financial holding company – yet it appears to have cooled investor appetite for a revived listing at home.Ant Group was previously set to be the biggest IPO ever last November, tipped to …

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Charlie Munger’s Daily Journal added Alibaba to his portfolio

Charlie Munger’s Daily Journal added Alibaba to his portfolio

(ATF) Daily Journal Corp, which has counted Charlie Munger as its chairman since 1977, added Alibaba to its stock portfolio in the first quarter after the market capitalisation of the Chinese e-commerce mammoth had plunged almost 30% since late October.While US-listed Chinese companies face delisting risks after Washington passed new …

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Investors reset ahead of earnings

Investors reset ahead of earnings

HONG KONG: Investors turned edgy ahead of the earnings season with the resurgence of coronavirus infections adding to the gloom.China underperformed as the slowdown in credit growth resumed in March with the authorities signalling deceleration will continue as policymakers focus on reining in credit risks.Japan’s Nikkei 225 index slipped 0.77%, …

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After Alibaba’s $2.8bn antitrust fine, who will be the next target?

After Alibaba’s $2.8bn antitrust fine, who will be the next target?

(ATF) Alibaba Group’s shares rose in Hong Kong after Chinese authorities announced a fine of over $2.8 billion on the e-commerce giant – but shares of other Chinese internet giants have plunged. Analysts say Alibaba won’t be the last target of Beijing’s anti-monopoly campaign, and other e-commerce giants, such as …

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A glimpse at China's burgeoning edge cloud market

A glimpse at China's burgeoning edge cloud market

According to CNNIC, a national IT think tank, China had more than 989 million Internet users by the end of 2020, accounting for approximately 70% of the country's total population, although that figure only stood at 909 million a year ago. The Covid-19 crisis has clearly contributed to an accelerated …

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China’s stock exchange plan to lure overseas-listed firms home 

China’s stock exchange plan to lure overseas-listed firms home 

Beijing is working on setting up a stock exchange that would attract Chinese firms listed in offshore markets such as Hong Kong and the United States.As well as bolstering the global status of its onshore share markets, the government hopes the initiative would also lure marquee global firms such as …

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Big-tech complains but complies as governments crack down 

Big-tech complains but complies as governments crack down 

A government committee led by President Xi Jinping said in mid-March that China would increase oversight of internet platforms to pace the digital economy’s quick development. The pledge follows fines, warnings and mandated service reductions aimed at major Chinese companies since November, when regulators mothballed fintech giant Ant Group’s $37 …

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Tencent goes on the front foot with China antitrust meeting

Tencent goes on the front foot with China antitrust meeting

(ATF) Pony Ma, the reticent founder of Tencent Holdings, China's biggest social media and video games company, met with China's antitrust watchdog officials this month to discuss compliance at his group, said reports.The meeting is seen to be the most concrete indication yet that China's unprecedented antitrust crackdown, which started …

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