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Profit falls 81% as China cracks down on big tech: Alibaba

November 19, 2021
Source: africapulse.com africapulse.com
News Snapshot:
[Profit falls 81% as China cracks down on big tech: Alibaba] Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as it grappled with a government crackdown on the country’s big tech champions.Alibaba said profit came in at 5.37 billion yuan ($833 million) for the July-September period, falling from 28.77 billion yuan earned over the same stretch last year.It… Original URL: [Click here to visit original article]
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Tags: Alibaba | China | Chinese | crackdown | currency | e-commerce | government | HERE | IT | online shopping | profit | Renminbi | technology | Yuan

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