The Digital Source For China's Tech Innovation Since 2000

Search
Close

Facing Competition and Lower Consumption in China, Alibaba Forecasts Growth Decline

November 19, 2021
Source: pymnts.com pymnts.com
News Snapshot:
Alibaba is forecasting slower growth as consumption in China remains down. In fact, the eCommerce company expects its annual revenue to rise more slowly than any time since its stock market debut in 2014, Reuters reported Thursday (Nov. 18). During an earnings call Thursday, Alibaba CEO Daniel Zhang also pointed to increasing competition as a factor in the decline, the report said. Reuters noted that a regulatory crackdown by the Chinese government has affected Alibaba and other tech firms there — along with new COVID-19 outbreaks and supply disruptions. For the quarter ended Sept. 30, Alibaba’s revenue grew 29% year...
Go To Original Source →
Tags: Alibaba | America | B2B | CEO | chief financial officer | China | Chinese | cloud | Cloud Computing | Computing | Covid-19 | e-commerce | Economy | Europe | finance | logistics | manufacturing | North America | online shopping | revenue | stock market | supply chain | technology | United States | USA

Other Related News:

Experts Say US Might Find It Tough To Ban TikTok: Here's Why

March 23, 2023

MP Han Dong leaving Liberal caucus, denies allegations related to conversation with Chinese diplomat

March 23, 2023

Toronto Liberal MP at centre of foreign interference allegations leaves caucus

March 23, 2023

Toronto MP Han Dong quits Liberal caucus amid Chinese interference allegations

March 23, 2023

Japan PM expected to roll out vision towards 'free and open Indo-Pacific'

March 23, 2023

TikTok Users Descend on US Capitol to Protest Proposals to Ban Chinese App

March 23, 2023

International trade of colistin in animal feed continues unabated

March 23, 2023

Chinese firm invents lockdown-inspired kissing machine for remote lovers

March 23, 2023

Tiktok boss to appear before US committee

March 23, 2023
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter