Latest Jack Ma News

Meituan's stock price plunges after CEO posts Chinese poem

May. 11, 2021 07:20 AM EDT

SINGAPORE (AP) — Shares in Meituan, China’s largest food delivery platform, have tumbled after its CEO posted —and then deleted — an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over...

Chinese regulator orders Ant Group to conduct major overhaul

Apr. 12, 2021 08:48 AM EDT

HONG KONG (AP) — Chinese regulators have ordered Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, to become a financial holding company to ease financial oversight amid stepped up scrutiny of technology firms. In a meeting Monday, the central...

Alibaba fined $2.8 billion on competition charge in China

Apr. 10, 2021 00:02 AM EDT

BEIJING (AP) — Alibaba Group, the world’s biggest e-commerce company, was fined 18.3 billion yuan ($2.8 billion) by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries. Party...