Morning Tidings

Tag: Alibaba

  • Alibaba Group Reshuffles Top Brass After Major Server Outage, CEO To Look After Cloud Arm

    Alibaba Group Reshuffles Top Brass After Major Server Outage, CEO To Look After Cloud Arm

    Beijing, December 29 : In a major reshuffle amid intense scrutiny by the Chinese government, Alibaba Group on Thursday unveiled key senior management changes, including Wu Zeming’s rise to the company’s Chief Technology Officer (CTO), as its Hong Kong servers suffered a serious outage that shut down many services in the region.

    Daniel Zhang, Chairman and CEO of Alibaba Group, will assume the role of acting President of Alibaba Cloud Intelligence and responsibility for the communication and collaboration platform DingTalk. Ola, Uber, Dunzo Worst Digital Platforms in Providing Fair Work for Gig Workers in India.

    In a separate move, Jeff Zhang will focus on his role as head of the Alibaba DAMO Academy and no longer serve as President of Alibaba Cloud Intelligence. He will continue to be responsible for Alibaba’s proprietary chip development team T-Head and Internet of Things (IoT) initiatives, the company said in a statement.

    “Over the past four years, Jeff has led the Alibaba Cloud Intelligence team to deliver outstanding results in technological innovation and industry influence,” said Daniel Zhang in an internal email to staff announcing the executive appointments. Google Working on New Security Option To Block Insecure HTTP Downloads in Chrome.

    “As the country enters a new stage of living with Covid and policymakers have given direction to the future development of the platform economy, we are more confident than ever that continued development is the key to solving the challenges we face today,” he added.

    The timing of the restructuring is sparking speculation as the server failure, which lasted up to one day for some customers, made the incident one of the biggest among Chinese cloud providers in recent history.

    Zeming will continue to serve as the CTO of the Local Services division in addition to his newly appointed roles. Before Cheng became Alibaba’s CTO in 2019, he held various senior roles at its financial services affiliate, Ant Group. Moving forward, Cheng will continue to work with Daniel Zhang as an advisor on technology.

    Zhou Jingren will serve as CTO of Alibaba Cloud Intelligence in addition to his current role as Deputy Head of the DAMO Academy. On April 1, 2023, Jane Jiang will succeed Judy Tong as Group Chief People Officer, a role she has held since 2017.

    (The above story first appeared on Morning Tidings on Dec 29, 2022 07:32 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • Alibaba Group Generates $84.5 Billion Worth Sale During 11.11 Global Shopping Fest

    Beijing: Chinese conglomerate Alibaba Group has generated $84.5 billion (540 billion yuan) in gross merchandise volume (GMV) from its annual 11:11 shopping event — an 8.5 per cent increase from last year. The ‘11.11 Global Shopping Festival’, that began in 2009 with participation from just 27 merchants, saw more than 290,000 brands participating this year. Alibaba Fined USD 2.8 Billion on Monopoly Charge in China.

    “Over the last 12 years, 11.11 has showcased the tremendous consumption power of Chinese consumers and pushed boundaries for the global retail sector,” said Chris Tung, Chief Marketing Officer of Alibaba Group.

    “This year’s festival marks a new chapter for 11.11. We believe we must leverage the power of 11.11 to encourage sustainable development and promote inclusiveness to consumers, merchants and partners across our ecosystem,” he said in a statement.

    Over the last year, tech giants like Alibaba have faced constant scrutiny from the Chinese government. Earlier this year, Alibaba was fined a record 18.2 billion yuan fine for breaching China’s antitrust regulations and “abusing (its) market dominance”.

    “Innovation and regulation often go hand-in-hand — it’s what ensures the development of a healthy and fair economy,” a company spokesperson told ZDNet on Friday. “No matter where we operate in the world, we will always comply with all applicable laws and regulations and continue to stay compliant in light of any regulatory changes,” the spokesperson said.

    This year marked the largest Singles’ Day shopping festival on Tmall, with a record 290,000 brands participating and more than 14 million types of commodities offering discounts.

    This was also the greenest Singles’ Day shopping festival on JD.com, which introduced various measures, including developing recyclable packaging, deploying new-energy cargo vans and using photovoltaic power generation in warehousing, to lower carbon emissions and the impact on environment, reports Xinhua news agency. Chinese labels are also gaining traction among overseas buyers, with sportswear brand Erke recording sevenfold sales growth to foreign markets via Tmall and Taobao during this year’s campaign.

    Like Black Friday two weeks later, Singles’ Day is especially popular in Spain, which has briefly overtaken the United States as the second-largest market for AliExpress’ online sales — behind Russia.

    (The above story first appeared on Morning Tidings on Nov 12, 2021 11:10 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • As Tencent and Alibaba Mutually Open the Ecosystem Joy Spreader Sees New Growth Opportunities

    As Tencent and Alibaba Mutually Open the Ecosystem Joy Spreader Sees New Growth Opportunities

    According to recent Dow Jones News, Tencent and Alibaba are considering opening up their ecosystems gradually, and both are separately working on plans to ease the restrictions. The opening up of their ecosystems will significantly impact China’s internet retail market, and mobile new media performance marketing agencies, like Joy Spreader, are expected to embrace new growth opportunities.

    As China is tightening the antitrust regulations, anti-monopoly measures have deepened to rein in the unrestricted growth of China’s big tech companies. According to the news, Alibaba’s initial moves include allowing access to WeChat Pay in e-commerce, while Tencent will allow Ali to provide e-commerce services in WeChat.

    As a giant enterprise in the field of social media, enjoying the traffic advantage, Tencent is able to monetize the social media traffic through Ali’s huge e-commerce business following the opening up of their ecosystems; meanwhile, Ali’s merchants have the opportunity to gain a bigger market share from Tencent’s high-quality traffic pool of social media. In short, this potential collaboration will serve mutual benefits as Ali can draw on Tencent’s traffic, while Tencent can utilize Ali’s platform.

    From a broader perspective, the opening of the two big platforms will undoubtedly unfold a broader space for cooperation for the entire mobile internet industry in China, bringing more options and convenient experiences to consumers and promoting the evolution of China’s internet ecosystem.

    Variance denotes opportunity. With the opening of the platform ecosystem and free flow of information, massive and complex deal matching needs will also arise, making efficiency less attainable. The problem can be solved by multiple approaches such as intelligence, data and algorithms, and interest-based recommendations. In this process, new opportunities for better development will emerge for enterprises with multi-platform service capabilities across Ali, Tencent and ByteDance, as well as experience in diversified product services such as e-commerce and interactive entertainment.

    As the pioneer in the field of mobile new media marketing technology in China, Joy Spreader is one of the few with unparalleled expertise and know-how on cross-platform data analysis, algorithmic recommendation and a diversified product portfolio. In terms of platform, as of the first quarter of 2021, Joy Spreader’s traffic database has accessed 55,616 WeChat public accounts, 29,828 TikTok accounts and 11,567 WeChat video accounts, while reaching more than 640,000 realizable access points. Regarding the products, Joy Spreader has accessed 1,457 models of interactive entertainment and other digital products and 198 SKU of e-commerce products.

    It’s worth mentioning that the video e-commerce business is becoming the important engine to drive revenue and profit growth for Joy Spreader. According to the Annual Report of 2020, Joy Spreader generated HK$594 million annual GMV of e-commerce products and delivered a 353.92% year-on-year growth. During TikTok’s June 18 promotion this year, Joy Spreader realized a GMV of approximately HK$350 million, implying significant growth momentum.

    In addition, as the exchanges in the Internet sector are becoming more frequent, cyber information security has entered an era of tightening regulation, which promotes the protection of personal information while also indirectly raising the bar for mobile new media performance marketing and other internet sectors, further enhancing the competitiveness of legally compliant enterprises.

    In the future, as more and more isolated ecosystems are unwrapped, the marketing companies like Joy Spreader will continue to benefit from the trend as they have the advantages of data algorithms and is able to legally and compliantly leverage it to empower new consumption and drive user growth. Meanwhile, it will also provide support of more accurate modelling and data for the content of mobile new media publishers and product matching of industry customers, hence improving matching efficiency and transaction conversion rate.

    When viewed over a longer period, only an interconnected Internet ecosystem is the one that best serves the interests of all parties.

  • Fine for anti-China monopoly violations Alibaba controls $ 2.75bn

    Fine for anti-China monopoly violations Alibaba controls $ 2.75bn

    Billionaire founder Jack Ma’s business empire has been put under particularly intense scrutiny in late October following strong criticism of China’s regulatory system.

    Chinese regulators have imposed a fine of 18 billion yuan ($ 2.75 billion) on Alibaba Group Holding Ltd., violating anti-monopoly regulations and marking the largest anti-trust fine to be implemented in the country as its main market. The situation is misused.

    The fine, equivalent to about 4% of Alibaba’s revenue in 2019, comes amid an unprecedented regulatory crackdown on the company’s shares in domestic stock markets over the past few months.

    The business empire of Alibaba’s billionaire founder Jack Ma has been particularly under intense scrutiny following strong criticism of China’s regulatory system in late October.

    In late December, China’s State Administration for Market Regulation (SAMR) announced that it had launched an antitrust investigation into the company. The authorities then halted the $ 37 billion IPO from Ant Group, Alibaba’s Internet finance arm.

    SAMR said on Saturday that following an investigation launched in December, it was determined that Alibaba has been “abusing market dominance” since 2015 by prohibiting its merchants from using other online e-commerce platforms.

    It states that this practice violates China’s anti-monopoly law due to free spread of goods and violation of business interests of traders.

    SAMR ordered Alibaba to “fully reform” to strengthen internal compliance and protect consumer rights.

    The company said in a statement posted on its official Weibo account that it had “accepted” the decision and that it would fully implement SAMR’s decisions. It said that it would also work to improve corporate compliance.

    The practice of preventing merchants from listing on rival platforms has been in place for a long time. The regulator stated in the rules released in February that it was illegal.

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  • Chinese tech giants expand in Singapore

    Chinese tech giants expand in Singapore

    Singapore, a prosperous financial center, has good relations with Beijing and the West, and tech firms have seen this as a safe bet to scale up their operations.

    (For a quick snapshot of the top 5 tech stories, subscribe to our today’s Cash Newsletter. Click here to subscribe for free.)

    Chinese tech giants are expanding in Singapore as they face a crack at home and increasing pressure in other major markets – but they may struggle to find talent in the city-state.

    Messaging-and-gaming behemoth Tencent is opening a hub and TikTok owner ByteDance is in a hiring spree after setting up a regional headquarters, while e-commerce giant Alibaba is investing in property and recruitment.

    Tech firms are focusing their attention on accelerating Southeast Asian markets as executives tighten screws at home amid concerns about the increasing power of the platforms.

    Regulators have prepared for an attack in the region, with many companies being heavily fined, and threatening to slice large companies, whose reach is now deep into the daily lives of ordinary Chinese.

    Meanwhile, tense festivals between Washington and Beijing following the attack on Chinese tech titans during Donald Trump’s presidency make the United States an ugly prospect, and problems abound elsewhere.

    Also read Bytdance says that India’s freeze on bank accounts is oppression

    “Chinese tech companies are facing regulatory pressures and sanctions from governments in other countries, notably the US, but also other countries, such as India,” said Rajiv Biswas, chief economist at Asia Pacific, IHS Market.

    India has banned Chinese apps since the border clashes last year, while the European Union and other Western powers recently banned the treatment of China’s Muslim Uyghur minority, indicating retaliatory sanctions.

    But Singapore, a prosperous financial center, has good relations with Beijing and the West, and tech firms have seen it as a safe bet to expand their operations.

    “Singapore is considered a more neutral country” in the current climate of geopolitical uncertainty, Chen Guoli, professor of strategy at the Singapore campus of the business school INSEAD, told AFP.

    Surrogate mother

    In addition, the long-running turmoil in traditional rival Hong Kong has reduced its appeal, although observers have emphasized other factors may be more significant.

    The influx of Chinese cash would be welcomed in Singapore, whose economy has been controlled by coronoviruses and which seeks to develop itself as a technology hub.

    Also read Chinese app against western fashion brands over Xinjiang join celebs in backlash

    It is already home to major offices such as US Tech, Facebook, Google and Twitter, while ByteDance recently relocated to larger offices in the Financial District, and launched a rental drive.

    Ajay Thaluri, an analyst at data and analytics firm GlobalData, said that between September and February, one-third of ByteDance’s postings were in Singapore, more than double the advertisements placed in China, with a focus on hiring specialized engineers Was.

    Meanwhile, Alibaba bought a 50 percent stake in an office tower last year, where its e-commerce unit Lazada is the main tenant, while its affiliate, fintech giant Ant Group, won a license to operate a wholesale digital bank in the city-state .

    Thallery said that Alibaba is “building teams in Singapore with significant acquisitions and mid-level job postings related to talent acquisition, product management and legal compliance.”

    The e-commerce firm, co-founded by Jack Ma, has come under fierce pressure in China, with officials pulling the plug on Ant’s record initial public offering in November.

    Talent shortage

    Bytdance and Tencent, which announced their Singapore expansion plans in September, say they are primarily focused on growing their businesses in Southeast Asia, a booming region of 650 million, rather than elsewhere. Avoid stress.

    Analysts said that by registering its presence in Singapore, tech giants are hedging their bets as the West hit the new nadir.

    Also read China’s Tencent faces concessions to win green light for giant videogame merger

    Chen of INSEAD stated that Chinese companies need a “Plan B” in the event of their global and Chinese operations being separated, in which case Singapore could become their international hub.

    However, a major challenge to expand in the city with a population of only 5.7 million is to recruit workers with the right skills.

    Daljit Sall, senior director of information technology at the Singapore office of global recruitment firm Randstad, said, “Technology is developing and accelerating at a pace that has far exceeded the supply of talent needed.”

    Singapore is trying to attract foreign talent, although it may cause uneasiness in a country that already has concerns about a large foreign population, while schools are offering courses to prepare young people for technical jobs Huh.

    Nevertheless, “there still remains an urgent need to fill these skill gaps”, Sall said.

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  • Chinese app against western fashion brands over Xinjiang join celebs in backlash

    Chinese app against western fashion brands over Xinjiang join celebs in backlash

    Cotton Row has made its way into the entertainment world, with Chinese celebrities dropping several foreign retail labels, including six American brands such as Nike.

    (For a quick snapshot of the top 5 tech stories, subscribe to our today’s Cash Newsletter. Click here to subscribe for free.)

    China’s top ride-hailing app removed Swedish fashion retailer H&M from its listing as Chinese celebrities stopped supporting foreign labels in Xinjiang amid growing uproar over Western allegations of forced labor.

    H&M faced a public backlash in China when social media users in the country broadcast a statement that the company announced last year that it would not source cotton from Xinjiang following reports of forced labor use by Uygar Muslims Will remain

    Western governments and rights groups have accused officials of detaining and torturing Uygars in the far-flung western region, where some former prisoners said they were subject to ideological indulgence.

    Beijing denied the allegations and described the camps as vocational training centers that help combat religious extremism.

    Also read Chinese hackers used Facebook to target Uigars living abroad

    Search results for H&M in the Didi Chuxing ride-hailing app for all major cities in China did not yield any results on Friday. The company did not immediately respond to a request for comment.

    The backlash against H&M caused the Chinese e-commerce giant Alibaba Group Holding Ltd, the shopping app Meituan and the Maps app for search engine Baidu Inc, to remove the Swedish retailer from its list.

    Other foreign brands, including Burberry Group PLC, Nike Inc and Adidas AG, have also received a setback online for making similar statements about sourcing cotton in Xinjiang.

    The human rights section of H & M’s website hmgroup.com on Friday did not forward links to Xinjiang’s 2020 statement. The statement can be accessed through the direct address of the page.

    Statements previously expressing concern or intolerance about forced labor are no longer available on the websites of Inditex, VF Corp, PVH and Abercrombie & Fitchware already in place in Xinjiang.

    Following Reuters’ inquiries, VF Corp pointed to a statement on a separate section of its website stating that it is not the source of Xinjiang. Google Cash showed that the statement was added in the last four days. The VF did not answer the question as to why the statement was moved.

    PVH, Inditex and Abercrombie & Fitch did not respond to requests for comment.

    Also read Uyghur women set a stage in Istanbul against Chinese camps

    French MEP Rafael Gluckesman, one of the 10 European Union individuals from China who runs social media, said, “We have to stand by the statements condemning slavery and shame those who take them down. It is up to these brands. Is a defining moment. ” Campaigns calling on retailers to stand up against forced labor in Xinjiang.

    “Consumers in Europe need to create counter pressure on companies withdrawing their statements.”

    China Celebs Drop Brand

    A message on Thursday on the Chinese Weibo account of German fashion house Hugo Boss stated that it would “continue to buy and support Xinhua cotton.” Hugo Boss said on Friday that it was not an authorized position, and was removed accordingly.

    In an email to Reuters on Friday, company spokeswoman Caroline Westman said an unwanted English-language statement on its website stated that “until now, Hugo Boss has not procured any goods originating from direct suppliers in the Xinjiang region Is “was its official position.

    Cotton Row has made its way into the entertainment world, with Chinese celebrities dropping several foreign retail labels, including six American brands such as Nike.

    Naik-owned New Balance, Under Armor, Tommy Hilfiger and Conversions have set fire in China under statements that they will not use Xinjiang cotton.

    Other brands affected include Adidas, Puma and Fast Retailing’s Uniqlo.

    A Fast Retailing spokesperson said, “I can confirm that the Chinese brand ambassador of Uniqlo has terminated its contracts. Regarding cotton, we only have the source of permanent cotton and that has not changed.”

    Also read Twitter says it has locked up the US embassy in China on a tweet related to Xinjiang

    In the last two days at least 27 Chinese film stars and singers have announced that they will stop collaborating with foreign brands.

    His decision was widely praised by Chinese Internet users for his patriotism and trended high on popular Twitter-like microblogs Weibo.

    “I have bought such products in the past and this situation does not mean that I will now throw them away or destroy them,” said Lucy Liu, a graduate outside a Beijing shopping mall.

    “What I will do is just avoid buying them right now.”

    Beyond the fashion and retail industry, China on Friday approved British organizations and individuals, calling it a “lie and disinformation” about Xinjiang, days after Britain’s own sanctions came into force.

    China’s Foreign Ministry said, “China is determined to protect its national sovereignty, security and development interests and warns Britain not to go the wrong way.” “Otherwise, China will react fully.”

    The ban is the latest sign of deteriorating relations between London and Beijing, including China’s prohibition on dissent in the former British colony of Hong Kong, which was guaranteed its independence when it returned to Chinese rule in 1997.

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  • China threatens to rein in Internet economy

    China threatens to rein in Internet economy

    Beijing, making good on its threats to emphasize the “shipping economy”, President Xi Jinping has weighed on the need to rein in eunuchs who play a major role in the country’s consumer sector.

    (For a quick snapshot of the top 5 tech stories, subscribe to our today’s Cash Newsletter. Click here to subscribe for free.)

    Chinese Liverstreaming came under scrutiny on Tuesday. On Thursday, it was “Deepfake”. And earlier this month, Chinese authorities fined the community group operators who bought the platform.

    Beijing, making good on its threats to emphasize the “shipping economy”, President Xi Jinping has weighed on the need to rein in eunuchs who play a major role in the country’s consumer sector.

    The intoxication of Chinese digital heavyweight warnings, fines and de-platforming put the Ant Group’s $ 37 billion IPO on hold last year and expanded across the sector, lowering share prices and punishing some operators Motivated to take pre-measures before committing.

    “With the rapid development of the digital economy, people’s lives have become inseparable from the Internet platform,” the Chinese state-run Daily wrote on Thursday.

    “However, after capturing the market, some platforms have given up their proper social responsibilities and are trying to monopolize the region by becoming ‘slaves’ of capital”.

    Chinese Internet giants led by billionaire Jack Ma’s Alibaba, as well as Tencent, ByteDance and a handful of people, built enormous scale and market power under an era of lavish fur treatment, which Alibaba affiliate Ant in November The listing ended dramatically with a halt.

    Also read ‘Political link’ stops Jack Ma’s record IPO to China

    It was then fined for fines imposed on companies for thwarting previous acquisitions for an anti-trust review, as well as an anti-trust investigation in Alibaba and forcing sellers to sell the product ” There was a “one-to-two” exercise. Only one e-commerce site.

    The pace has accelerated.

    On Friday, China’s market regulator fined 10 deals on 12 companies, including Baidu Inc., Tencent and Didi Chuxing, for violating anti-monopoly rules.

    Also read China market regulator to introduce new rules on online deals

    On Monday night, Alibaba’s UC Browser, which boasts more than 400 million monthly active users, was embarrassed on state TV’s annual Consumer Rights Show for advancing advertisements by unqualified medical firms. UC apologized, but the app disappeared from the Chinese Android App Store.

    Following Monday’s meeting chaired by Xi, he warned of the risks of “irregular” development of some platforms.

    “The platform’s economy is not fully developed and has shortcomings, and we have a major problem with the regulatory system that does not accommodate the issue,” said a report by the government news agency Xinhua.

    Also read China Denies $ 1 bn Alibaba Penalty Plan, But Tech Companies Shocked

    This week, sources said that Alibaba plans to bring its own Taobao cut-price retail service to rival Tencent’s ubiquitous WeChat messaging app, of which Taobao had blocked access since 2013. The move is under pressure from Alibaba regulator and is facing a major challenge from Tencent-. Supported Pindoduo.

    Alibaba did not immediately respond to requests for comment.

    Beijing-based tech and e-Li Liongdong said, “The platform economy in China has millions of merchants and large platforms are getting the most out of them. So it makes sense for regulators to lose weight and protect their interests Comes. ” Commerce Analyst.

    ‘Long batley’

    On Thursday, China’s Internet watchdog said it had called on 11 firms, including Alibaba, Tencent and ByteDance, to discuss “DeepFake”, which uses artificial intelligence to create hyper-realistic but fake video or audio where one The person says something or it appears that they did not. .

    It called on companies to “conduct security assessments on their own” and to mark new works or services that “have the potential to mobilize society”, a clear reference to the increase in Chinese copyright of the American audio app Clubhouse, which the Chinese was blocked. Censored in early February.

    Also read Developing a clubhouse-like app for China among the copycat crowd

    Reuters reported last month that Chinese tech giants were anticipating a massive rift.

    Liu Jingliang, a member of the committee led by the Ministry of Industry and Information Technology, said the platform companies had become too large, forcing the government to take action.

    “It’s a long battle and more action can be expected,” he told Reuters.

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  • China market regulator to introduce new rules on online deals

    China market regulator to introduce new rules on online deals

    The heightened scrutiny by Chinese regulators since December has included the announcement of an investigation by e-commerce giant Alibaba, punishing Alibaba-backed and Tencent-backed firms for not conducting anti-trust reviews for the deals, while other companies Has also been fined for irregular pricing.

    (For a quick snapshot of the top 5 tech stories, subscribe to our today’s Cash Newsletter. Click here to subscribe for free.)

    China’s market regulator will launch new rules this year to clarify the responsibilities of platform companies involved in online transactions, the state-owned Xinhua agency said. Wei Li, an official of the State Regulation of Market Regulation (SAMR), told Xinhua that the regulator will “adopt more powerful supervision methods this year and deploy a series of actions” to address major problems in the online marketplace.

    The regulator will also accelerate the creation of a system that will collect real-time online transaction information for better monitoring and coordination, Weiwa said on Monday, which is Consumer Rights Day in China.

    Also read China Denies $ 1 bn Alibaba Penalty Plan, But Tech Companies Shocked

    The government has given it the green signal that will issue new rules for the Internet sector. The heightened scrutiny by Chinese regulators since December has included the announcement of an investigation by e-commerce giant Alibaba, punishing Alibaba-backed and Tencent-backed firms for not conducting anti-trust reviews for the deals, while other companies Has also been fined for irregular pricing. .

    SAMR said it would also strengthen the legal system and issue detailed rules to protect the rights of consumers.

    It added that administrative guidance can be expected citing major promotional events and the single online, annual online shopping spree created by e-commerce company Alibaba Group.

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  • China threatens to rein in Internet economy

    China denies plans to recover $ 1 billion Alibaba

    The ongoing squeeze on Alibaba – one of China’s most influential companies – is the latest sign that the leadership is ready to dismiss the ambitions of big tech firms in a fugitive Internet sector

    (For a quick snapshot of the top 5 tech stories, subscribe to our today’s Cash Newsletter. Click here to subscribe for free.)

    China on Friday denied that it was planning to kill e-commerce giant Alibaba with a record of nearly $ 1 billion for allegedly flouting monopoly rules, as authorities pressured the country’s vast technology sector Was increased.

    China’s largest online shopping portal, Alibaba, has been in the crosshairs of authorities in recent months regarding its accessibility to the daily finances of ordinary Chinese people.

    The market regulator denied that the company was planning to pay a fine of about $ 1 billion for anti-competitive behavior, as reported by the Wall Street Journal, which cited unnamed sources linked to the case.

    However, on Friday it killed 12 other tech firms, including giants Tencent, Baidu and ByteDance – symbolic penalties for violating monopoly rules.

    Also read China issues new anti-monopoly rules targeting its tech giants

    The state administration said in a statement on Friday that Tencent was fined $ 77,000 for its 2018 investment in online education app Yuanfudo.

    Search giant Baidu will have to pay the same amount in 2014 to get consumer electronics manufacturer Ainemo under the radar.

    Beijing has warned that it will take a callous approach to antitrust questions.

    Premier Li Keqiang said last week that the government would “strengthen anti-monopoly laws” and “prevent the disorganized expansion of capital”.

    Analysts said Friday’s dismissal gives a strong indication of the Communist Party’s dominance over the country’s technical landscape.

    “These penalties send a message: The economy and everything within it must follow the state’s directives,” Alex Capri, a senior fellow at the National University of Singapore’s business school, told AFP.

    Also read Control of ‘resonance of data’ behind Alibaba’s feud with authorities

    Capri said the hefty rules would curb the ability of tech firms to be affected by market share and uncontrolled acquisitions. – Alibaba’s havoc –

    The ongoing squeeze on Alibaba – one of China’s most influential companies – is the latest sign that the leadership is set to defy the ambitions of large tech firms in a fugitive Internet sector.

    The Wall Street Journal reported on Thursday that officials are considering a hefty fine against the company, which could top $ 975 million paid in 2015 by US chipmaker Qualcomm – the largest for antichromatic practices in China Known penalty.

    But the regulator in charge of the case told AFP that there is no truth in the story.

    “If it is not (on our website), it is not (true),” said a spokesperson for the State Administration for Market Regulation.

    Nevertheless, the company faces legal troubles. The problems began following comments in October by billionaire founder Jack Ma, which he put into China’s steadfast regulatory system.

    In November, financial regulators pulled the plug on Alibaba’s online payment subsidiary Ant Group’s record $ 35 billion Hong Kong-Shanghai initial public offering.

    A month later, authorities opened an investigation into Alibaba’s business practices, which were deemed to be anti-competitive and Ma had been missing from public view since mid-January.

    Also read Alibaba plans $ 5 bln bond this month amid regulatory scrutiny

    The company, based in the eastern city of Hangzhou, said last month that it was “fully cooperating” with the state administration’s investigation into market regulation.

    Regulators are also investigating whether VCs should distribute property unrelated to their main online retail business, the Wall Street Journal reported without presenting details.

    When contacted by AFP, Alibaba spokesman declined to comment on the report.

    The company has been under fire in the past for refusing to list its merchants on rival e-commerce platforms.

    Once finalized, the measures against Alibaba will need to be approved by China’s top leadership.

    Regulators have already asked Ant Group to change its business model and withdraw its lending, insurance and wealth management services.

    Alibaba made 52 percent to 12.2 billion in profits in the last three months of 2020, despite the official rift.

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