The Chinese e-commerce giant earlier this year reported flat quarterly revenue growth for the first time ever.
The move boosted major Chinese tech stocks in Hong Kong as market heavyweight Alibaba was up more than eight percent and JD.com piling on more than four percent.
The action is part of Beijing's anti-monopoly, data security and other crackdowns on tech companies since late 2020.
Geopolitical futurist Abishur Prakash speaks to TRT World on how technology is splitting the current world order and the impact it will have on politics, economics and society.
Trendyol, one of Turkey's best-known e-commerce platforms, serves more than 30 million shoppers, delivering more than 1 million packages, from groceries to clothes, per day.
Bitcoin fell to less than half the record value it reached last month before climbing back over $39,500, still above its level at the start of the year.
Alibaba’s first operating loss since its IPO comes after it was fined $2.78 billion as part of a push by regulators to rein in digital platforms that have unprecedented influence over the lives of hundreds of millions of Chinese consumers.
Beijing says anti-monopoly enforcement, especially in tech industries, is a priority for the country this year.
The Chinese market’s regulator denies planning a record fine for the e-commerce giant over anti-competitive behaviour as reported by the Wall Street Journal but has hit 12 other tech firms for allegedly flouting monopoly rules.
While more than 200 people became billionaires in China last year, curbs on e-commerce giant Alibaba saw tycoon Jack Ma lose his title to bottled water Nongfu Spring’s maker Zhong Shanshan, a new report shows.
Speculation over Ma's whereabouts has swirled in the wake of news this month that he was replaced in the final episode of a reality TV show he had been a judge on, and amid a regulatory clampdown by Beijing on his sprawling business empire.
China's highest-profile entrepreneur Jack Ma has not appeared in a public setting since a late October forum in Shanghai where he blasted China's regulatory system in a speech.
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