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Alibaba says profit falls 81% as China cracks down on big tech NewsBreak

November 19, 2021
Source: africapulse.com africapulse.com
News Snapshot:
[Alibaba says profit falls 81% as China cracks down on big tech NewsBreak] 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…… Original URL: [Click here to visit original article]
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Tags: Alibaba | China | Chinese | crackdown | currency | e-commerce | government | IT | online shopping | profit | Renminbi | technology | Yuan

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