As the dust settles on the three-year tussle between the Chinese government and Jack Ma, it becomes clear just how costly this conflict has been for Ma's companies, Ant Group and Alibaba group holding ltd. The Chinese authorities imposed a hefty fine of nearly $1 billion on ant group, effectively ending their probe.

Jack Ma's clash: High cost for Ant Group & Alibaba

Chinese billionaire Jack Ma was spotted in Pakistan as per reports he stayed in Pakistan's capital city, Lahore. Jack Ma was accompanied by a delegation of seven businessmen the delegation arrived in Pakistan from Nepal's Kathmandu via Hong Kong chartered flight.

Alibaba co-founder Jack Ma spotted in Pakistan

Chinese tech giant Alibaba said Tuesday it will replace its top boss, in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused by weak consumer spending and a regulatory crackdown.

The move comes as the market leader prepares to undergo a fundamental reorganisation of its sprawling business operations, which span cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence.&nbsp;

Under the reshuffle, Joseph Tsai will serve as chairman and Eddie Wu as CEO –&nbsp;replacing Daniel Zhang, who holds both roles. Both appointments will take effect on September 10.

Zhang said in a statement it was the "right time" for him to step down as Alibaba looks to implement a full spin-off of its advanced cloud computing unit.

The executive has played a vital role in the company's success in the past decade, spearheading the now hugely popular Singles' Day shopping festival since its first edition in 2009.

After the transition, Zhang will continue to serve as chairman and CEO of Alibaba Cloud Intelligence Group, the company said.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/jack-ma-goes-in-huddle-with-execs-asks-them-to-focus-on-taobao-report-606627">Jack Ma goes in huddle with execs, asks them to focus on Taobao: Report</a>

Alibaba has hit on hard times as Beijing imposed tighter restrictions on the domestic tech sector, while weak consumer spending saw it record its third consecutive quarter of single-digit revenue growth earlier this year.

And in a shock announcement, Alibaba said in late March that it would split into six business groups –&nbsp;one of the most significant overhauls of a leading Chinese tech firm to date.

Zhang said at the time that the restructuring would give the individual business units the ability to pursue independent financing and public listing plans.

<h2>'Smart move'</h2>

Jeffrey Towson, partner at TechMoat Consulting, said in a call that this week's shake-up "looks like the second half" of that reorganisation.

"The biggest growth engine that Alibaba has outside of its e-commerce business is their cloud business," Towson said.&nbsp;

Making this Zhang's sole focus "is a smart move," he added.&nbsp;

Incoming chairman Tsai said in a statement that Zhang had "demonstrated extraordinary leadership in navigating unprecedented uncertainties affecting our business over the past few years".

Tsai, a company veteran who was part of its founding team, brings extensive experience in various finance-related roles, including as former Alibaba chief financial officer.

Given that background, Li Chengdong, founder of Beijing-based tech-focused think tank Dolphin, told AFP that Tsai's appointment as chairman would likely "facilitate communication with Wall Street investors and maintain confidence in the stock price".

Under the new arrangement, each unit will be managed by its own CEO and board of directors.

Alibaba has said it aims to achieve a "more nimble" structure in order to maintain competitiveness in the face of new regulatory challenges and mounting pressures on the global economy.

Combined revenue at China's internet companies shrank by just over one per cent to 1.46 trillion yuan ($212 billion) in 2022, the first contraction in almost a decade, according to data from the Ministry of Industry and Information Technology.

Alibaba founder Jack Ma has kept a low profile since late 2020, when a speech he made attacking Chinese regulators was followed by Beijing pulling the plug on a planned IPO by Alibaba affiliate Ant Group.

A record fine of $2.75 billion was later imposed on the tech giant for alleged unfair business practices.

In January, Ant Group said Jack Ma no longer held controlling rights in the company –&nbsp;a move analysts speculated might have helped pull Ant and Alibaba out of the regulatory doghouse.

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Chinese tech giant Alibaba said Tuesday it will replace its top boss, in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused by weak consumer spending and a regulatory crackdown.

Chinese tech giant Alibaba said Tuesday it will replace its top boss, in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused by weak consumer spending and a regulatory crackdown. The move comes as the market leader prepares to undergo a fundamental reorganisation of its sprawling business operations, which span cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence. Under the reshuffle, Joseph Tsai will serve as chairman and Eddie Wu as CEO – replacing Daniel Zhang, who holds both roles. Both appointments will take effect on September 10. Zhang said in a statement it was the "right time" for him to step down as Alibaba looks to implement a full spin-off of its advanced cloud computing unit. The executive has played a vital role in the company's success in the past decade, spearheading the now hugely popular Singles' Day shopping festival since its first edition in 2009. After the transition, Zhang will continue to serve as chairman and CEO of Alibaba Cloud Intelligence Group, the company said. Also read | Jack Ma goes in huddle with execs, asks them to focus on Taobao: Report Alibaba has hit on hard times as Beijing imposed tighter restrictions on the domestic tech sector, while weak consumer spending saw it record its third consecutive quarter of single-digit revenue growth earlier this year. And in a shock announcement, Alibaba said in late March that it would split into six business groups – one of the most significant overhauls of a leading Chinese tech firm to date. Zhang said at the time that the restructuring would give the individual business units the ability to pursue independent financing and public listing plans. 'Smart move' Jeffrey Towson, partner at TechMoat Consulting, said in a call that this week's shake-up "looks like the second half" of that reorganisation. "The biggest growth engine that Alibaba has outside of its e-commerce business is their cloud business," Towson said. Making this Zhang's sole focus "is a smart move," he added. Incoming chairman Tsai said in a statement that Zhang had "demonstrated extraordinary leadership in navigating unprecedented uncertainties affecting our business over the past few years". Tsai, a company veteran who was part of its founding team, brings extensive experience in various finance-related roles, including as former Alibaba chief financial officer. Given that background, Li Chengdong, founder of Beijing-based tech-focused think tank Dolphin, told AFP that Tsai's appointment as chairman would likely "facilitate communication with Wall Street investors and maintain confidence in the stock price". Under the new arrangement, each unit will be managed by its own CEO and board of directors. Alibaba has said it aims to achieve a "more nimble" structure in order to maintain competitiveness in the face of new regulatory challenges and mounting pressures on the global economy. Combined revenue at China's internet companies shrank by just over one per cent to 1.46 trillion yuan ($212 billion) in 2022, the first contraction in almost a decade, according to data from the Ministry of Industry and Information Technology. Alibaba founder Jack Ma has kept a low profile since late 2020, when a speech he made attacking Chinese regulators was followed by Beijing pulling the plug on a planned IPO by Alibaba affiliate Ant Group. A record fine of $2.75 billion was later imposed on the tech giant for alleged unfair business practices. In January, Ant Group said Jack Ma no longer held controlling rights in the company – a move analysts speculated might have helped pull Ant and Alibaba out of the regulatory doghouse. WATCH WION LIVE HERE

Chinese tech giant Alibaba names new CEO, chairman

Jack Ma, the founder of Alibaba Holding, held a meeting with e-commerce executives and told them to refocus on Taobao, as per a report in LatePost. Taobao is an Alibaba-owned online shopping platform. The informal meeting reportedly took place in the month of May. Ma also told his executives that they should focus on consumers to weather the effects of the slowdown in the Chinese economy.

The meeting came a few weeks before Alibaba's announcement on Tuesday (June 20) about the reshuffle of its top management. The current head of Taobao, Eddie Wu Yongming, will take over as Alibaba's CEO on September 10.

Current CEO Zhang Yong will step aside and will run Alibaba Cloud. Joseph Tsai will serve as chairman of Alibaba.

During the meeting with Taobao and Tmall Group executives, Ma said that it would be a mistake to take Alibaba's pre-eminent position in the Chinese e-commerce market for granted. He said that the company should remain alert for business failure risks.

Watch | Reports: Talks on China's military facility in Cuba underway

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To make his point, Ma cited examples of Nokia and Kodak.

Nokia, formerly the biggest mobile-phone maker in the world, fell off the top charts as it did not align with the advent of smartphones. Kodak, the film giant, was unseated due to digital photography. Ma cited these examples to drive home the point that market leaders can quickly get displaced from their top positions.

Jack Ma reportedly said Alibaba has to “go back to Taobao, go back to users, and go back to the internet”.

South China Morning Post, a news outlet owned by Alibaba, reported that 'Going back to Taobao' may mean a pivot to small and medium merchants.

Jack Ma has stepped down from corporate roles in Alibaba but remains somewhat of a 'spiritual leader' of the business empire that he built from scratch.

He reportedly said in the meeting that Alibaba should remain an internet company and the focus must be on user experience.

<h2>Sweeping changes at Alibaba</h2>

If the reported meeting between Jack Ma and Alibaba execs did take place, it happened at a time the group was undergoing huge changes.

Alibaba is breaking its huge empire into six independent entities.

Alibaba breaking up is one of the most significant overhauls of a leading Chinese tech firm.

Also Read | <a href="https://www.wionews.com/world/china-achieves-historic-milestone-launches-41-satellites-in-single-mission-setting-new-record-605522">China achieves historic milestone: Launches 41 satellites in single mission, setting new record</a>

The business empire hit on hard times as Chinese authorities slapped tighter restrictions on the tech sector in the country. Earlier this year, weak consumer spending resulted in Alibaba recording its third consecutive quarter of single-digit growth.

(With inputs from agencies)

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Jack Ma, the founder of Alibaba Holding, held a meeting with e-commerce executives and told them to refocus on Taobao, as per a report in LatePost. Taobao is an Alibaba-owned online shopping platform.

Jack Ma, the founder of Alibaba Holding, held a meeting with e-commerce executives and told them to refocus on Taobao, as per a report in LatePost. Taobao is an Alibaba-owned online shopping platform. The informal meeting reportedly took place in the month of May. Ma also told his executives that they should focus on consumers to weather the effects of the slowdown in the Chinese economy. The meeting came a few weeks before Alibaba's announcement on Tuesday (June 20) about the reshuffle of its top management. The current head of Taobao, Eddie Wu Yongming, will take over as Alibaba's CEO on September 10. Current CEO Zhang Yong will step aside and will run Alibaba Cloud. Joseph Tsai will serve as chairman of Alibaba. During the meeting with Taobao and Tmall Group executives, Ma said that it would be a mistake to take Alibaba's pre-eminent position in the Chinese e-commerce market for granted. He said that the company should remain alert for business failure risks. Watch | Reports: Talks on China's military facility in Cuba underway × To make his point, Ma cited examples of Nokia and Kodak. Nokia, formerly the biggest mobile-phone maker in the world, fell off the top charts as it did not align with the advent of smartphones. Kodak, the film giant, was unseated due to digital photography. Ma cited these examples to drive home the point that market leaders can quickly get displaced from their top positions. Jack Ma reportedly said Alibaba has to “go back to Taobao, go back to users, and go back to the internet”. South China Morning Post, a news outlet owned by Alibaba, reported that 'Going back to Taobao' may mean a pivot to small and medium merchants. Jack Ma has stepped down from corporate roles in Alibaba but remains somewhat of a 'spiritual leader' of the business empire that he built from scratch. He reportedly said in the meeting that Alibaba should remain an internet company and the focus must be on user experience. Sweeping changes at Alibaba If the reported meeting between Jack Ma and Alibaba execs did take place, it happened at a time the group was undergoing huge changes. Alibaba is breaking its huge empire into six independent entities. Alibaba breaking up is one of the most significant overhauls of a leading Chinese tech firm. Also Read | China achieves historic milestone: Launches 41 satellites in single mission, setting new record The business empire hit on hard times as Chinese authorities slapped tighter restrictions on the tech sector in the country. Earlier this year, weak consumer spending resulted in Alibaba recording its third consecutive quarter of single-digit growth. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Jack Ma goes into huddle with execs, asks them to focus on Taobao: Report

In line with China's plan to regulate the fast-evolving deep fake technology, the internet regulator in the country has released its first line of approved suppliers.

As per the South China Morning Post report, the white list, that was released by the Cyber Administration of China (CAC) on Tuesday, included names of the owners of 41 algorithms, including major tech giants Tencent, Baidu and Alibaba.

The algorithms were filed in adherence to the Administrative Provisions on Deep Synthesis for Internet Information Service, which came into effect in the month of January this year.

<h2>China's deep synthesis rules</h2>

The Administrative Provisions on Deep Synthesis for Internet Information Service took effect on January 10. It controls deepfake technology and services including video, audio, text and images generated by artificial intelligence-based models.

As per the law, deep synthesis providers have to abide by the local laws and respect ethics, and maintain the “correct political direction and correct public opinion orientation”.

The regulation by CAC also urged deep fake providers to register as early as possible.

As per the list, the organisations that have already filed are in the business of generating images from text, editing images/videos from the ones uploaded by clients and intelligent customer service.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/ai-revolutionises-german-tabloid-bild-to-replace-editorial-jobs-with-artificial-intelligence-606616">German tabloid embraces AI revolution: Bild to replace editorial jobs with artificial intelligence</a>

According to the CAC, Beijing introduced the laws to constrict surveillance on the management of deep fake service, to promote “core socialist values”, protect national security and public interest and safeguard the rights of citizens and companies.

<h2>First arrest after regulation of deep fake technology</h2>

The Gansu public security department arrested Hong under charges of “picking quarrels and provoking trouble.” The charges carry a maximum sentence of five years in jail but can be extended to 10 years in extreme cases.

<h2>China’s quest to control AI chatbots</h2>

In February, it was reported that China has blocked ChatGPT in the country to make sure content critical of the Chinese Community Party doesn’t reach Chinese users. However, Chinese users are increasingly relying on a VPN connection to access the AI chatbot.&nbsp;

Now, Chinese companies are coming up with their own versions of ChatGPT in conformity with Chinese standards. China’s top internet regulator has already warned that the advancement of AI technology can make it more difficult for the authorities to differentiate deepfake content from the original one, and can lead to scams and defamation.&nbsp;

(With inputs from agencies)

&nbsp;

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&nbsp;

In line with China's plan to regulate the fast-evolving deep fake technology, the internet regulator in the country has released its first line of approved suppliers.

In line with China's plan to regulate the fast-evolving deep fake technology, the internet regulator in the country has released its first line of approved suppliers. As per the South China Morning Post report, the white list, that was released by the Cyber Administration of China (CAC) on Tuesday, included names of the owners of 41 algorithms, including major tech giants Tencent, Baidu and Alibaba. The algorithms were filed in adherence to the Administrative Provisions on Deep Synthesis for Internet Information Service, which came into effect in the month of January this year. China's deep synthesis rules The Administrative Provisions on Deep Synthesis for Internet Information Service took effect on January 10. It controls deepfake technology and services including video, audio, text and images generated by artificial intelligence-based models. As per the law, deep synthesis providers have to abide by the local laws and respect ethics, and maintain the “correct political direction and correct public opinion orientation”. The regulation by CAC also urged deep fake providers to register as early as possible. As per the list, the organisations that have already filed are in the business of generating images from text, editing images/videos from the ones uploaded by clients and intelligent customer service. Also read: German tabloid embraces AI revolution: Bild to replace editorial jobs with artificial intelligence According to the CAC, Beijing introduced the laws to constrict surveillance on the management of deep fake service, to promote “core socialist values”, protect national security and public interest and safeguard the rights of citizens and companies. First arrest after regulation of deep fake technology The Gansu public security department arrested Hong under charges of “picking quarrels and provoking trouble.” The charges carry a maximum sentence of five years in jail but can be extended to 10 years in extreme cases. China’s quest to control AI chatbots In February, it was reported that China has blocked ChatGPT in the country to make sure content critical of the Chinese Community Party doesn’t reach Chinese users. However, Chinese users are increasingly relying on a VPN connection to access the AI chatbot. Now, Chinese companies are coming up with their own versions of ChatGPT in conformity with Chinese standards. China’s top internet regulator has already warned that the advancement of AI technology can make it more difficult for the authorities to differentiate deepfake content from the original one, and can lead to scams and defamation. (With inputs from agencies) WATCH WION LIVE HERE

China's internet regulator releases list of approved suppliers of deep fake technology

After disappearing from the public eye in 2020, Jack Ma, the millionaire co-founder of the Chinese e-commerce behemoth Alibaba, has returned to the spotlight, but this time as a professor rather than a tech tycoon. The businessman taught his first class as a visiting professor at the University of Tokyo in Japan. His two-hour session on management theory and how the next generation might succeed in the future was held on June 12 at Tokyo University.

Alibaba founder Jack Ma becomes visiting professor at University of Tokyo

Chinese e-commerce giant Alibaba on Thursday said it plans to hire 15,ooo people in 2023, surprising market watchers who expected the company to lay off employees amid the global economic slowdown.&nbsp;

According to a statement released on the Chinese social networking platform Weibo, Alibaba will hire 15,000 people across its six major business divisions. At least 3,000 of the new recruits will be fresh college graduates.

In announcing a hiring spree, the e-commerce giant has effectively dismissed reports of layoffs as "rumours". The company added that employee departures are a part of the "normal flow"

"We have never stopped recruiting and cultivating outstanding talents," media reports quoted Alibaba as saying. &nbsp;

The latest announcement comes days after reports suggested that it will layoff approximately 7 percent of its workforce in the cloud business division to streamline operations in anticipation of an initial public offering (IPO) in the future.

Earlier reports had suggested that Alibaba plans to adapt to regulatory changes in China to position its cloud service as a leader in the market.&nbsp;

Last week, the Chinese behemoth had said that it intends to separate its cloud computing segment and make it an independent publicly traded company in the next 12 months.&nbsp;

In the recent quarter, Alibaba's cloud division reported revenue of 18.6 billion yuan ($2.69 billion), showing a 2 percent decline compared to the previous year. The company's focus on optimising its cloud operations is an indication that it wants to drive future growth and enhance profitability.

Chinese e-commerce giant Alibaba on Thursday said it plans to hire 15,ooo people in 2023, surprising market watchers who expected the company to lay off employees amid the global economic slowdown.

Chinese e-commerce giant Alibaba on Thursday said it plans to hire 15,ooo people in 2023, surprising market watchers who expected the company to lay off employees amid the global economic slowdown. According to a statement released on the Chinese social networking platform Weibo, Alibaba will hire 15,000 people across its six major business divisions. At least 3,000 of the new recruits will be fresh college graduates. In announcing a hiring spree, the e-commerce giant has effectively dismissed reports of layoffs as "rumours". The company added that employee departures are a part of the "normal flow" "We have never stopped recruiting and cultivating outstanding talents," media reports quoted Alibaba as saying. The latest announcement comes days after reports suggested that it will layoff approximately 7 percent of its workforce in the cloud business division to streamline operations in anticipation of an initial public offering (IPO) in the future. Earlier reports had suggested that Alibaba plans to adapt to regulatory changes in China to position its cloud service as a leader in the market. Last week, the Chinese behemoth had said that it intends to separate its cloud computing segment and make it an independent publicly traded company in the next 12 months. In the recent quarter, Alibaba's cloud division reported revenue of 18.6 billion yuan ($2.69 billion), showing a 2 percent decline compared to the previous year. The company's focus on optimising its cloud operations is an indication that it wants to drive future growth and enhance profitability.

Alibaba makes a U-turn on layoffs, says it will hire 15,000 people in 2023

Chinese e-commerce giant Alibaba on Thursday said it plans to hire 15,000 people in 2023. This has surprised market watchers, who expected the company to lay off employees as the global economy slows down.

Alibaba to hire 15,000 people in 2023

Alibaba Group Holding Ltd, the Chinese tech behemoth, is restructuring&nbsp;its cloud&nbsp;operations in anticipation of an upcoming initial public offering (IPO).

As part of its preparations for the IPO, the company has commenced a round of downsizing, impacting approximately 7 percent of its workforce, a Reuters report said.

This development comes as Alibaba adapts to regulatory changes in China and seeks to position its cloud service as a leader in the dynamic market.&nbsp;

Alibaba's cloud division, a key player in China's cloud service landscape,&nbsp;plans to offer severance packages to affected employees, the report added.&nbsp;

Last week, the China-based tech giant&nbsp;announced&nbsp;its intention&nbsp;to separate&nbsp;its cloud computing segment and make it an independent publicly traded company in the next 12 months.&nbsp;

Layoffs Today, IPO Tomorrow

While Alibaba did not provide an immediate response to requests for comment, the downsizing measures indicate the company's strategy to reshape its structure and ensure a more efficient and agile business model fit for an IPO listing.&nbsp;

With China's largest cloud service slated for listing next year, Alibaba is keen on fortifying its position in the market and capitalizing on the evolving dynamics of the tech industry.

In the recent quarter, Alibaba's cloud division reported revenue of 18.6 billion yuan ($2.69 billion), showing a 2 percent decline compared to the previous year. The company's focus on optimising its cloud operations is an indication that it wants to to drive future growth and enhance profitability.

(Inputs from Reuters)

Alibaba Group Holding Ltd, the Chinese tech behemoth, is restructuring its cloud operations in anticipation of an upcoming initial public offering (IPO). As part of its preparations for the IPO, the company has commenced a round of downsizing, impacting approximately 7 percent of its workforce, a Reuters report said.

Alibaba Group Holding Ltd, the Chinese tech behemoth, is restructuring its cloud operations in anticipation of an upcoming initial public offering (IPO). As part of its preparations for the IPO, the company has commenced a round of downsizing, impacting approximately 7 percent of its workforce, a Reuters report said. This development comes as Alibaba adapts to regulatory changes in China and seeks to position its cloud service as a leader in the dynamic market. Alibaba's cloud division, a key player in China's cloud service landscape, plans to offer severance packages to affected employees, the report added. Last week, the China-based tech giant announced its intention to separate its cloud computing segment and make it an independent publicly traded company in the next 12 months. Layoffs Today, IPO Tomorrow While Alibaba did not provide an immediate response to requests for comment, the downsizing measures indicate the company's strategy to reshape its structure and ensure a more efficient and agile business model fit for an IPO listing. With China's largest cloud service slated for listing next year, Alibaba is keen on fortifying its position in the market and capitalizing on the evolving dynamics of the tech industry. In the recent quarter, Alibaba's cloud division reported revenue of 18.6 billion yuan ($2.69 billion), showing a 2 percent decline compared to the previous year. The company's focus on optimising its cloud operations is an indication that it wants to to drive future growth and enhance profitability. (Inputs from Reuters)

China: Alibaba's cloud business cuts jobs ahead of upcoming IPO

Alibaba group holding ltd, the Chinese tech giant, is in the news once again. Their cloud unit will face a round of downsizing ahead of an eagerly anticipated initial public offering (IPO).

Alibaba’s cloud unit cuts staff ahead of IPO

Alibaba, the heavyweight champion of e-commerce, plans to launch an IPO for its logistics and grocery arms while hiving off its cloud business. This strategic breakup aims to reignite Alibaba’s revenue growth. The company recently reported its third consecutive quarter of single-digit revenue growth, raising concerns about the Chinese consumer spending rebound.

Alibaba spins off $12 billion cloud business

Alibaba co-founder Jack Ma is joining Tokyo University as a visiting professor, the University said on Monday.

Ma begins his tenure today and will advice students and conduct research, especially on sustainable agriculture and food production. He will also give seminars about entrepreneurship, innovation, management and business startups. &nbsp;

His appointment term will last till October but the contract is renewable on an annual basis, the university said.

The Chinese tycoon has been away from the limelight since 2020 after he criticised Chinese regulatory system that was later blamed for triggering a wide-ranging&nbsp;crackdown by Beijing.

Ma's appointment at the University of Tokyo could&nbsp;be seen as a way for him to keep a low profile while still pursuing his passion for education. It is unclear how much time he will spend teaching at the university, but his appointment is expected to bring attention to the university's entrepreneurship program and attract more students to the school.&nbsp;

Alibaba founder, who stepped down from his role as the executive chairman of Alibaba in 2019, has long been interested in education and has had previous stints as a teacher and professor.

In 2015, he was appointed as a professor of entrepreneurship and leadership at Hupan University, a business school that he co-founded in China. Hupan University, which is named after the apartment building where Ma started Alibaba, aims to train the next generation of entrepreneurs in China.

Ma's interest in education started early in his career when he worked as an English teacher for several years after graduating from Hangzhou Normal University. Later, he founded the Alibaba Group in 1999, which went on to become one of the world's largest e-commerce platforms. Despite his success in the world of business, Ma never lost his passion for education.

In 2014, Ma founded the Jack Ma Foundation, which focuses on education, entrepreneurship, philanthropy, women’s leadership, medical support and environmental protection. Through the foundation, Ma has supported various educational initiatives, including providing scholarships to students from underprivileged backgrounds and launching programs to train teachers in rural areas of China.

Alibaba co-founder Jack Ma is joining Tokyo University as a visiting professor, the University said on Monday. Ma begins his tenure today and will advice students and conduct research, especially on sustainable agriculture and food production.

Alibaba co-founder Jack Ma is joining Tokyo University as a visiting professor, the University said on Monday. Ma begins his tenure today and will advice students and conduct research, especially on sustainable agriculture and food production. He will also give seminars about entrepreneurship, innovation, management and business startups. His appointment term will last till October but the contract is renewable on an annual basis, the university said. The Chinese tycoon has been away from the limelight since 2020 after he criticised Chinese regulatory system that was later blamed for triggering a wide-ranging crackdown by Beijing. Ma's appointment at the University of Tokyo could be seen as a way for him to keep a low profile while still pursuing his passion for education. It is unclear how much time he will spend teaching at the university, but his appointment is expected to bring attention to the university's entrepreneurship program and attract more students to the school. Alibaba founder, who stepped down from his role as the executive chairman of Alibaba in 2019, has long been interested in education and has had previous stints as a teacher and professor. In 2015, he was appointed as a professor of entrepreneurship and leadership at Hupan University, a business school that he co-founded in China. Hupan University, which is named after the apartment building where Ma started Alibaba, aims to train the next generation of entrepreneurs in China. Ma's interest in education started early in his career when he worked as an English teacher for several years after graduating from Hangzhou Normal University. Later, he founded the Alibaba Group in 1999, which went on to become one of the world's largest e-commerce platforms. Despite his success in the world of business, Ma never lost his passion for education. In 2014, Ma founded the Jack Ma Foundation, which focuses on education, entrepreneurship, philanthropy, women’s leadership, medical support and environmental protection. Through the foundation, Ma has supported various educational initiatives, including providing scholarships to students from underprivileged backgrounds and launching programs to train teachers in rural areas of China.

Alibaba founder Jack Ma turns professor, will teach Tokyo University students

Alibaba Group founder Jack Ma engineered from abroad the corporate breakup of his e-commerce empire, as he wanted to make it more competitive and efficient in China.

The Wall Street Journal (WSJ) newspaper, citing people who are close&nbsp;to the development, reported that the Chinese tech billionaire, despite stepping down in 2019, remains an influential figure in the top management and is active in deciding its strategy.

On Tuesday, Alibaba group said that it is planning to split the company into six units and would look for fundraisings or listings for most of them, marking the biggest restructuring in its 24-year history.

The firm will be divided into Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group.

The company made the announcement a day before Ma’s surprise visit to a school in Alibaba’s hometown of Hangzhou.

The move, which raised eyebrows among experts, has triggered speculation about whether Ma struck any deal with China’s government.

Analysts say that the shake-up is being done to ease scrutiny over the tech giant whose sprawling business has been a target of regulators for years.

The WSJ reported that it has been in the planning stage for months, adding that Ma held talks with Alibaba’s top executives, including the current Chairman and Chief Executive Daniel Zhang, in recent months.

The Chinese tech billionaire has largely been absent from the public eye since his company came under the radar of Beijing’s officials two years ago.

As he was abroad, Alibaba was slapped with a $2.8 billion antitrust penalty in April 2021. Its affiliate fintech giant, Ant Group Co., had to suspend its much-awaited IPO at the 11th hour in 2020 upon the orders of Chinese regulators who demanded an overhaul of its business.

The business tycoon’s return to the mainland was possible because of repeated overtures through retired Communist Party officials and fellow tycoons, the WSJ reported citing sources.

It is said that they cajoled Ma by invoking his patriotism, and asking him to contribute to China’s development.

(With inputs from agencies)

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Alibaba Group founder Jack Ma engineered from abroad the corporate breakup of his e-commerce empire, as he wanted to make it more competitive and efficient in China.

Alibaba Group founder Jack Ma engineered from abroad the corporate breakup of his e-commerce empire, as he wanted to make it more competitive and efficient in China. The Wall Street Journal (WSJ) newspaper, citing people who are close to the development, reported that the Chinese tech billionaire, despite stepping down in 2019, remains an influential figure in the top management and is active in deciding its strategy. On Tuesday, Alibaba group said that it is planning to split the company into six units and would look for fundraisings or listings for most of them, marking the biggest restructuring in its 24-year history. The firm will be divided into Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group. The company made the announcement a day before Ma’s surprise visit to a school in Alibaba’s hometown of Hangzhou. The move, which raised eyebrows among experts, has triggered speculation about whether Ma struck any deal with China’s government. Analysts say that the shake-up is being done to ease scrutiny over the tech giant whose sprawling business has been a target of regulators for years. The WSJ reported that it has been in the planning stage for months, adding that Ma held talks with Alibaba’s top executives, including the current Chairman and Chief Executive Daniel Zhang, in recent months. The Chinese tech billionaire has largely been absent from the public eye since his company came under the radar of Beijing’s officials two years ago. As he was abroad, Alibaba was slapped with a $2.8 billion antitrust penalty in April 2021. Its affiliate fintech giant, Ant Group Co., had to suspend its much-awaited IPO at the 11th hour in 2020 upon the orders of Chinese regulators who demanded an overhaul of its business. The business tycoon’s return to the mainland was possible because of repeated overtures through retired Communist Party officials and fellow tycoons, the WSJ reported citing sources. It is said that they cajoled Ma by invoking his patriotism, and asking him to contribute to China’s development. (With inputs from agencies) WATCH WION LIVE HERE

Jack Ma engineered Alibaba Group’s split from abroad: Report

Here, we bring you the news that is trending across WION's social media platforms - Stormy Daniels celebrate Donald Trump's indictment, Jacob Meijer sued for 'incest risk', Jack Ma engineered Alibaba group's split from abroad, United States say, Russia is offering food to North Korea in return for arms, Oceansat-3 sends back spectacular new images of Earth.

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Alibaba Group's recently announced restructuring will allow all its business units to become more agile and enhance faster decision-making and how the firm responds to market changes, said the company's chief executive Daniel Zhang said on Thursday.

While on a conference call, Zhang said that Alibaba had begun laying the groundwork for the restructuring over the past few years. He added that in the future, the Jack Ma-founded tech conglomerate will be more in the structure of an asset and capital operator, rather than a business operator.

Watch |&nbsp;Chinese tech giant Alibaba's shares jump 14%

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Two days ago, Alibaba declared its most extensive reorganisation to date, transforming itself into a holding company with six individual business units, each having its own board and CEO. The day-to-day operations of the six individual business units will be ceded to their respective new management bodies.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/alibaba-undergoes-transformation-will-split-into-six-individual-units-576785">Alibaba undergoes 'transformation,' will split into six individual units</a>

Zhang will, however, continue to serve as Alibaba's CEO.

Referring to the plan as a "transformation", Zhang had earlier said that it would make Alibaba "more agile, enhance decision-making, and enable faster responses to market changes".

The restructuring reportedly opens up each of the Chinese tech giant's new individual units to&nbsp;the possibility of raising funds through their own initial public offering (IPO).

Also read |&nbsp;<a href="https://www.wionews.com/world/jack-ma-returns-to-china-recently-after-nearly-a-year-of-overseas-travel-visits-school-576299">Jack Ma returns to China after nearly a year of overseas travel, visits a school</a>

On the call, when asked about the timeline for the market listings, Toby Xu, Alibaba's Chief Financial Officer, stated that the restructuring allowed each business unit to look for independent fundraising and IPOs whenever they are prepared.

Some analysts believe that the current value of Alibaba does not account for the value of each division on its own and that a breakup could result in a more accurate assessment of each division's worth. They also argue&nbsp;that restructuring could also provide better protection for Alibaba shareholders from the demands of regulators, since a penalty imposed on one sector would not influence the activities of another.

(With inputs from agencies)

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Alibaba Group's recently announced restructuring will allow all its business units to become more agile and enhance faster decision-making and how the firm responds to market changes, said the company's chief executive Daniel Zhang said on Thursday.

Alibaba Group's recently announced restructuring will allow all its business units to become more agile and enhance faster decision-making and how the firm responds to market changes, said the company's chief executive Daniel Zhang said on Thursday. While on a conference call, Zhang said that Alibaba had begun laying the groundwork for the restructuring over the past few years. He added that in the future, the Jack Ma-founded tech conglomerate will be more in the structure of an asset and capital operator, rather than a business operator. Watch | Chinese tech giant Alibaba's shares jump 14% Two days ago, Alibaba declared its most extensive reorganisation to date, transforming itself into a holding company with six individual business units, each having its own board and CEO. The day-to-day operations of the six individual business units will be ceded to their respective new management bodies. Also read | Alibaba undergoes 'transformation,' will split into six individual units Zhang will, however, continue to serve as Alibaba's CEO. Referring to the plan as a "transformation", Zhang had earlier said that it would make Alibaba "more agile, enhance decision-making, and enable faster responses to market changes". The restructuring reportedly opens up each of the Chinese tech giant's new individual units to the possibility of raising funds through their own initial public offering (IPO). Also read | Jack Ma returns to China after nearly a year of overseas travel, visits a school On the call, when asked about the timeline for the market listings, Toby Xu, Alibaba's Chief Financial Officer, stated that the restructuring allowed each business unit to look for independent fundraising and IPOs whenever they are prepared. Some analysts believe that the current value of Alibaba does not account for the value of each division on its own and that a breakup could result in a more accurate assessment of each division's worth. They also argue that restructuring could also provide better protection for Alibaba shareholders from the demands of regulators, since a penalty imposed on one sector would not influence the activities of another. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Alibaba restructuring will help make company 'more agile' and enhance decision-making, CEO says

As a result of the Chinese tech company Alibaba's announcement of a big makeover, its Hong Kong-listed shares have increased by 14 percent overall today.

Chinese tech giant Alibaba's shares jump 14%

In one of its most significant overhauls to date, Chinese tech firm Alibaba on Tuesday announced that it will be splitting into six business groups. Under the new arrangement, each of the six newly established businesses will be under the management of its own CEO and board of directors. The company said that the move aimed to "unlock shareholder value and foster market competitiveness". Alibaba chairman and CEO Daniel Zhang said in a statement that the restructuring would enable each of these businesses to pursue their own fundraising and public listing plans.

Watch |&nbsp;China’s Alibaba announces it is working on a ChatGPT like AI bot

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Referring to the plan as a "transformation", Zhang said that it would make Alibaba "more agile, enhance decision-making, and enable faster responses to market changes".

Zhang will continue to serve as Alibaba CEO, however, the day-to-day operations of the six individual business units will be ceded to their respective new management bodies.

Also read |&nbsp;<a href="https://www.wionews.com/world/jack-ma-returns-to-china-recently-after-nearly-a-year-of-overseas-travel-visits-school-576299">Jack Ma returns to China after nearly a year of overseas travel, visits a school</a>

As per AFP, one key exception to this restructuring is Taobao Tmall Commerce Group, which operates one of China's top online purchasing platforms.&nbsp;

Taobao will continue to be under Alibaba's control and will be wholly owned by the group.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/russia-china-record-highest-trade-surplus-in-2022-says-data-576151">Russia, China record highest trade surplus in 2022, says data</a>

Alibaba stated that the modifications would not have an influence on its stocks, which are currently listed in New York and Hong Kong. The company is aiming for a more "nimble structure", which means that it will be&nbsp;reducing the size of its middle and back office functions.

The firm's decision to restructure comes as China promised to support its private sector. In recent years, the company faced unprecedented headwinds as Beijing imposed tighter restrictions on the domestic tech industry.

(With inputs from agencies)

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In one of its most significant overhauls to date, Chinese tech firm Alibaba on Tuesday announced that it will be splitting into six business groups. Under the new arrangement, each of the six newly established businesses will be under the management of its own CEO and board of directors.

In one of its most significant overhauls to date, Chinese tech firm Alibaba on Tuesday announced that it will be splitting into six business groups. Under the new arrangement, each of the six newly established businesses will be under the management of its own CEO and board of directors. The company said that the move aimed to "unlock shareholder value and foster market competitiveness". Alibaba chairman and CEO Daniel Zhang said in a statement that the restructuring would enable each of these businesses to pursue their own fundraising and public listing plans. Watch | China’s Alibaba announces it is working on a ChatGPT like AI bot Referring to the plan as a "transformation", Zhang said that it would make Alibaba "more agile, enhance decision-making, and enable faster responses to market changes". Zhang will continue to serve as Alibaba CEO, however, the day-to-day operations of the six individual business units will be ceded to their respective new management bodies. Also read | Jack Ma returns to China after nearly a year of overseas travel, visits a school As per AFP, one key exception to this restructuring is Taobao Tmall Commerce Group, which operates one of China's top online purchasing platforms. Taobao will continue to be under Alibaba's control and will be wholly owned by the group. Also read | Russia, China record highest trade surplus in 2022, says data Alibaba stated that the modifications would not have an influence on its stocks, which are currently listed in New York and Hong Kong. The company is aiming for a more "nimble structure", which means that it will be reducing the size of its middle and back office functions. The firm's decision to restructure comes as China promised to support its private sector. In recent years, the company faced unprecedented headwinds as Beijing imposed tighter restrictions on the domestic tech industry. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Alibaba undergoes 'transformation,' will split into six individual units

The entrepreneur was spotted at a hotel in Melbourne in recent days and was later confirmed to be spending time in the country. Snapshots of the Alibaba Group co-founder surfaced on Twitter, though their authenticity hasn't been verified.

Jack Ma spotted at a hotel in Australia's Melbourne

Chinese tech giant Alibaba is making strides to challenge the current industry giant in natural language processing technology, OpenAI's ChatGPT. The news of the company's newly-announced venture sent its shares soaring by more than 2.5 per cent.

China’s Alibaba announces it is working on a ChatGPT like AI bot

Activist investor Ryan Cohen likely to be in conflict with Beijing after taking on Alibaba group, the billionaire is popular among the meme crowd after he forced his way onto the GameStop board.

Activist investor Ryan Cohen likely to be in conflict with Beijing after taking on Alibaba group

In an attempt to extend its campaign to strengthen control over online content, China has acquired "golden shares" in tech firms Alibaba and Tencent, business registration records showed. More than five years ago, Beijing started acquiring these stakes—called the "golden shares"—in private online media companies. The stakes with special rights taken by China are usually about 1% of a firm.

China acquires ‘golden shares’ in tech firms Alibaba and Tencent for control on sector

Reports say Alibaba co-founder Jack Ma is hiding out in Tokyo along with his family. This comes after Xi Jinping blocked the IPO of Ma's Ant group and ordered Alibaba to sell off its media assets. Is Xi Jinping threatened by Ma's popularity? Listen in to Priyanka Sharma.

Gravitas | Reports: Jack Ma is hiding out in Tokyo

Jack Ma, the co-founder and former executive chairman of Alibaba Group, has been living with his family in Tokyo for almost six months, The Financial Times reported on Tuesday citing sources.&nbsp;

The news about his whereabouts came amid China's rampant crackdown on the country's technology sector. The Chinese regime has targeted powerful businessmen, and Jack Ma too ran into trouble with the authorities over violating anti-monopoly regulations.&nbsp;

People with direct knowledge of his current home told the media outlet that the Chinese billionaire's stay in Tokyo included stints in hot springs and ski resorts in the countryside outside the Japanese capital. He and his family reportedly had regular trips to the US and Israel.&nbsp;

The business magnate is more or less not seen in public ever since he criticised the Chinese regulators in 2020. He has been spotted in some countries, like Spain and the Netherlands.&nbsp;

In 2020, he&nbsp;accused the state-run banks of having a "pawnshop mentality". After he made the accusations, the companies he founded—Ant and Alibaba—were targeted by authorities, and faced regulatory obstacles.&nbsp;

WATCH |&nbsp;Singapore Airlines and Tata Group to merge Air India, Vistara by March 2024&nbsp;

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The FT report said that he has kept a low profile during his stay in Tokyo. He brought his personal chef and security with him and kept his public activities to a minimum, said the people who know his location.&nbsp; 
&nbsp; 
His social activities centre around a small handful of private members' clubs, with one based in the heart of Tokyo's swish Ginza district and another in the Marunouchi financial district facing the Imperial Palace.&nbsp;

Although there's no official reaction, some claim that the billionaire had used his time in Japan to expand his business interests. The Jack Ma Foundation and Ant did not respond to requests for comment regarding his visit to Tokyo.&nbsp;

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Jack Ma, the co-founder and former executive chairman of Alibaba Group, has been living with his family in Tokyo for almost six months, The Financial Times reported on Tuesday citing sources.

Jack Ma, the co-founder and former executive chairman of Alibaba Group, has been living with his family in Tokyo for almost six months, The Financial Times reported on Tuesday citing sources. The news about his whereabouts came amid China's rampant crackdown on the country's technology sector. The Chinese regime has targeted powerful businessmen, and Jack Ma too ran into trouble with the authorities over violating anti-monopoly regulations. People with direct knowledge of his current home told the media outlet that the Chinese billionaire's stay in Tokyo included stints in hot springs and ski resorts in the countryside outside the Japanese capital. He and his family reportedly had regular trips to the US and Israel. The business magnate is more or less not seen in public ever since he criticised the Chinese regulators in 2020. He has been spotted in some countries, like Spain and the Netherlands. In 2020, he accused the state-run banks of having a "pawnshop mentality". After he made the accusations, the companies he founded—Ant and Alibaba—were targeted by authorities, and faced regulatory obstacles. WATCH | Singapore Airlines and Tata Group to merge Air India, Vistara by March 2024 × The FT report said that he has kept a low profile during his stay in Tokyo. He brought his personal chef and security with him and kept his public activities to a minimum, said the people who know his location. His social activities centre around a small handful of private members' clubs, with one based in the heart of Tokyo's swish Ginza district and another in the Marunouchi financial district facing the Imperial Palace. Although there's no official reaction, some claim that the billionaire had used his time in Japan to expand his business interests. The Jack Ma Foundation and Ant did not respond to requests for comment regarding his visit to Tokyo. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Chinese billionaire Jack Ma is living in Tokyo since Beijing's crackdown on technology sector: Report

Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in&nbsp;Indian food delivery aggregator Zomato, according to multiple reports.&nbsp;The Chinese company will be selling its stake through a block deal expected to take place on Wednesday. Morgan Stanley will be the broker with Alibaba's shares being offered at a five to six per cent discount.&nbsp;

Through the deal, the Chinese tech giant is anticipating to mop up around $200 million.&nbsp;

In&nbsp;August,&nbsp;Uber, the US-based cab-hailing platform exited Zomato by selling its 7.8 per cent stake via a similar block deal.&nbsp;According to term sheets, the deal stood at around&nbsp;$392 million with shares sold at&nbsp;50.44 rupees apiece.&nbsp;

<a href="https://www.wionews.com/india-news/uber-to-sell-its-78-per-cent-stake-in-zomato-sources-502955">Read more:&nbsp;Uber to sell its 7.8 per cent stake in Zomato</a>

What happened with Zomato?

Zomato issued its Initial Public Offering (IPO) last year when its valuation stood at $13.3 billion. Notably, the company's valuation was only $3.5 billion, a year prior to the IPO&nbsp;and that too after acquiring Uber Eats and its India services.

When the IPO was released, it was 35 times oversubscribed, suggesting that the company had played the right hand.

At the time, the company was listed with an issue price of Rs 76, per stock. Subsequently, the stock price rose to an all-time high of Rs 169.10 in November.

<a href="https://www.wionews.com/videos/zomato-confirms-plans-to-lay-off-3-staff-nationwide-535700">WATCH |&nbsp;Zomato confirms plans to lay off 3% staff nationwide</a>

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However, that was the last time the company's stock touched such heights.&nbsp;Since then, the Bengaluru-based company has failed to recreate the same magic as it fails to chart a road towards profitability.&nbsp;

The global economic downturn has added to Zomato's woes. The company confirmed earlier this month that it will be firing at least three per cent of its workforce&nbsp;across the country based on regular performance.&nbsp;

“There has been a regular performance based churn of under three per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson.

Zomato sustained a net loss of $2.5 billion in the quarter ending September when compared to the previous fiscal year’s loss of $4.3 billion during the same period.&nbsp;

(With inputs from agencies)

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Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in Indian food delivery aggregator Zomato, according to multiple reports.

Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in Indian food delivery aggregator Zomato, according to multiple reports. The Chinese company will be selling its stake through a block deal expected to take place on Wednesday. Morgan Stanley will be the broker with Alibaba's shares being offered at a five to six per cent discount. Through the deal, the Chinese tech giant is anticipating to mop up around $200 million. In August, Uber, the US-based cab-hailing platform exited Zomato by selling its 7.8 per cent stake via a similar block deal. According to term sheets, the deal stood at around $392 million with shares sold at 50.44 rupees apiece. Read more: Uber to sell its 7.8 per cent stake in Zomato What happened with Zomato? Zomato issued its Initial Public Offering (IPO) last year when its valuation stood at $13.3 billion. Notably, the company's valuation was only $3.5 billion, a year prior to the IPO and that too after acquiring Uber Eats and its India services. When the IPO was released, it was 35 times oversubscribed, suggesting that the company had played the right hand. At the time, the company was listed with an issue price of Rs 76, per stock. Subsequently, the stock price rose to an all-time high of Rs 169.10 in November. WATCH | Zomato confirms plans to lay off 3% staff nationwide × However, that was the last time the company's stock touched such heights. Since then, the Bengaluru-based company has failed to recreate the same magic as it fails to chart a road towards profitability. The global economic downturn has added to Zomato's woes. The company confirmed earlier this month that it will be firing at least three per cent of its workforce across the country based on regular performance. “There has been a regular performance based churn of under three per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson. Zomato sustained a net loss of $2.5 billion in the quarter ending September when compared to the previous fiscal year’s loss of $4.3 billion during the same period. (With inputs from agencies) WATCH WION LIVE HERE:

After Uber, Alibaba to sell three per cent stake in Zomato at discount: Reports

As Covid-19 curves and a worsening economic outlook stifled, Chinese e-commerce giant, has posted low digit rise in quarterly revenue but slightly below expectations and retail spending in China has sacked this year. Alongside government's zero-Covid policy have led to frequent snap lockdowns.

World Business Watch: Alibaba misses quarterly expectations; spending slows

Chinese e-commerce giant&nbsp;Alibaba&nbsp;on Thursday reported a loss of 20.6 billion yuan ($2.89 billion) for the third quarter, as the company grapples with an economic slowdown and an anti-monopoly crackdown.

The heavy net loss attributable to ordinary shareholders was primarily due to a "decrease in market prices of our equity investments in publicly traded companies", among other factors, the company said in a statement.

Alibaba's performance is widely seen as a gauge of Chinese consumer sentiment, given its market dominance.

Revenue for the three months ending September 30 was up three percent year-on-year at 207.2 billion yuan, which Chief Financial Officer Toby Xu said was achieved "in spite of the impact on consumption demand by the Covid-19 resurgence in China as well as slowing cross-border commerce".

Alibaba&nbsp;said it achieved revenue growth by "enhancing operating efficiency" as well as through the expansion of its logistics and services businesses, despite a slump in e-commerce sales within China.

It comes after the company earlier this year reported flat quarterly revenue growth for the first time ever.

Flagging demand&nbsp;

The company said in its statement on Thursday that revenue from domestic commerce had fallen in the third quarter, "mainly as a result of softer consumption demand, Covid-19 resurgence and restrictions, as well as ongoing competition".

In a sign of difficulties for&nbsp;Alibaba, the company appears to have laid off a number of employees, with its headcount down more than 1,700 from the previous quarter.

China's major tech companies have faced economic uncertainty, Covid-19 restrictions that have depressed consumer spending, as well as heightened scrutiny from regulators in recent months.

Fellow tech titan Tencent reported on Wednesday its second quarterly drop in revenue in a row.

Alibaba&nbsp;in particular has been at the centre of regulatory crackdowns at home and abroad.

US authorities have put the company on a watchlist that could see it delisted in New York if it does not comply with disclosure orders, causing its shares to slump.

Chinese authorities pulled a planned IPO by the company's financial arm Ant Group at the last minute in 2020, then hit&nbsp;Alibaba&nbsp;with a record $2.75 billion fine for alleged unfair practices last year.

The company's Singles Day e-commerce festival, which traditionally dwarfs similar US events such as Black Friday and Cyber Monday, has been more muted in recent years.

Alibaba&nbsp;-- alongside main rival JD.com -- did not release full sales figures for the shopping bonanza for the first time ever this year, instead saying in a statement that sales were flat from last year.

Chinese e-commerce giant Alibaba on Thursday reported a loss of 20.6 billion yuan ($2.89 billion) for the third quarter, as the company grapples with an economic slowdown and an anti-monopoly crackdown.

Chinese e-commerce giant Alibaba on Thursday reported a loss of 20.6 billion yuan ($2.89 billion) for the third quarter, as the company grapples with an economic slowdown and an anti-monopoly crackdown. The heavy net loss attributable to ordinary shareholders was primarily due to a "decrease in market prices of our equity investments in publicly traded companies", among other factors, the company said in a statement. Alibaba's performance is widely seen as a gauge of Chinese consumer sentiment, given its market dominance. Revenue for the three months ending September 30 was up three percent year-on-year at 207.2 billion yuan, which Chief Financial Officer Toby Xu said was achieved "in spite of the impact on consumption demand by the Covid-19 resurgence in China as well as slowing cross-border commerce". Alibaba said it achieved revenue growth by "enhancing operating efficiency" as well as through the expansion of its logistics and services businesses, despite a slump in e-commerce sales within China. It comes after the company earlier this year reported flat quarterly revenue growth for the first time ever. Flagging demand The company said in its statement on Thursday that revenue from domestic commerce had fallen in the third quarter, "mainly as a result of softer consumption demand, Covid-19 resurgence and restrictions, as well as ongoing competition". In a sign of difficulties for Alibaba, the company appears to have laid off a number of employees, with its headcount down more than 1,700 from the previous quarter. China's major tech companies have faced economic uncertainty, Covid-19 restrictions that have depressed consumer spending, as well as heightened scrutiny from regulators in recent months. Fellow tech titan Tencent reported on Wednesday its second quarterly drop in revenue in a row. Alibaba in particular has been at the centre of regulatory crackdowns at home and abroad. US authorities have put the company on a watchlist that could see it delisted in New York if it does not comply with disclosure orders, causing its shares to slump. Chinese authorities pulled a planned IPO by the company's financial arm Ant Group at the last minute in 2020, then hit Alibaba with a record $2.75 billion fine for alleged unfair practices last year. The company's Singles Day e-commerce festival, which traditionally dwarfs similar US events such as Black Friday and Cyber Monday, has been more muted in recent years. Alibaba -- alongside main rival JD.com -- did not release full sales figures for the shopping bonanza for the first time ever this year, instead saying in a statement that sales were flat from last year.

Alibaba reports loss of $2.9 billion in third quarter

For the first time, since the start of the annual Singles Day shopping festival in 2009, the Alibaba group has not disclosed the final sales tally. They mentioned that the results were similar to year. However, the country's profit margins were expected to take a hit due to strict Covid-19 curbs.

China: Singles Day shopping fest sales ends low; Covid curbs likely to hit profit margins

For the past two years, China has been tightening its screws on the burgeoning tech sector. They have been restricting online video games, imposing multimillion dollar anti-trust fines on online shopping platforms and banning online tutoring agencies. &nbsp;

Some of China’s crown&nbsp;jewels like Jack Ma’s Alibaba and Tencent have faced the wrath of the Chinese authorities for failing to comply with anti-monopoly trade laws.&nbsp;

But there is one sector within the tech industry which has been rapidly growing without facing any hindrance from the Chinese regulators—dating apps.&nbsp;

According to data.ai, an analytics firm, the number of dating apps have grown exponentially, from 81 in 2017, to 275 in 2022.&nbsp;

Not only that, the number of downloads has also increased, touching thousands and so have in-app purchases.&nbsp;

Last year, dating apps and social media networking sites received over $5.3 billion in investments, up from $300 million in 2019, according to data shared by PitchBook Data, Inc. &nbsp;

However, there is more than just a romantic reason why China appears to have given these dating apps free reign. They also provide a prospect for marriage—a glimmer of hope for Beijing which has been battling low fertility rates and marriage, reports The New York Times.&nbsp;

And for people, who have been grappling with loneliness during the Covid times, these apps provide them virtual sanctuaries to meet new friends, explore hobbies and discuss popular topics.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/east-asia/17-killed-in-china-restaurant-fire-cause-of-the-blaze-under-investigation-520482" hreflang="en">17 killed in China restaurant fire, cause of the blaze under investigation</a>

Zhang Lu, the founder of Soul, a dating app backed by Tencent, told NYT that “loneliness is the core problem we want to solve.” &nbsp;

But many find these dating apps as a platform for meeting new friends than gaining a dating partner. &nbsp;

In a survey conducted by a&nbsp;Chinese research institute&nbsp;in October, 89 per cent of the respondents said they had used a dating app before, with a majority of them saying they wanted to expand their social circles and not to find a partner.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/xi-jinping-appears-in-public-for-first-time-since-sco-summit-amid-rumours-520401">China's President Xi Jinping appears in public for first time since SCO Summit</a>

A Shanghai-based developer working on his own dating app, Vladimir Peters, told the NYT that many younger Chinese want the apps to provide a more holistic experience that blends entertainment and hobby exploration, and not just a love match.&nbsp;

(With inputs from agencies)&nbsp;

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For the past two years, China has been tightening its screws on the burgeoning tech sector. They have been restricting online video games, imposing multimillion dollar anti-trust fines on online shopping platforms and banning online tutoring agencies.

For the past two years, China has been tightening its screws on the burgeoning tech sector. They have been restricting online video games, imposing multimillion dollar anti-trust fines on online shopping platforms and banning online tutoring agencies. Some of China’s crown jewels like Jack Ma’s Alibaba and Tencent have faced the wrath of the Chinese authorities for failing to comply with anti-monopoly trade laws. But there is one sector within the tech industry which has been rapidly growing without facing any hindrance from the Chinese regulators—dating apps. According to data.ai, an analytics firm, the number of dating apps have grown exponentially, from 81 in 2017, to 275 in 2022. Not only that, the number of downloads has also increased, touching thousands and so have in-app purchases. Last year, dating apps and social media networking sites received over $5.3 billion in investments, up from $300 million in 2019, according to data shared by PitchBook Data, Inc. However, there is more than just a romantic reason why China appears to have given these dating apps free reign. They also provide a prospect for marriage—a glimmer of hope for Beijing which has been battling low fertility rates and marriage, reports The New York Times. And for people, who have been grappling with loneliness during the Covid times, these apps provide them virtual sanctuaries to meet new friends, explore hobbies and discuss popular topics. Also read | 17 killed in China restaurant fire, cause of the blaze under investigation Zhang Lu, the founder of Soul, a dating app backed by Tencent, told NYT that “loneliness is the core problem we want to solve.” But many find these dating apps as a platform for meeting new friends than gaining a dating partner. In a survey conducted by a Chinese research institute in October, 89 per cent of the respondents said they had used a dating app before, with a majority of them saying they wanted to expand their social circles and not to find a partner. Also read | China's President Xi Jinping appears in public for first time since SCO Summit A Shanghai-based developer working on his own dating app, Vladimir Peters, told the NYT that many younger Chinese want the apps to provide a more holistic experience that blends entertainment and hobby exploration, and not just a love match. (With inputs from agencies) WATCH WION LIVE HERE:

In China, dating apps flourish under watchful gaze of regulators. Here's why

It was last year this month that the Xi Jinping government in China started a crackdown on the gaming industry by describing video games as ‘spiritual opium’. A year on and China's biggest technology giant, Tencent Holdings is mulling venturing overseas.

It was last year this month that the Xi Jinping government in China started a crackdown on the gaming industry by describing video games as ‘spiritual opium’. A year on and China's biggest technology giant, Tencent Holdings is mulling venturing overseas. Reportedly, during the Tencent Game Developers Conference that started on Sunday this week, the Shenzhen-based company highlighted the opportunities that lay outside mainland China, both for its in-house IPs and products developed by other Chinese developers. Xia Lin, vice-president of Tencent Games stated that the Chinese games had a vast growth potential in markets like Southeast Asia, West Asia as well as Latin America. Lin further added that the 'sheer' number of users and game downloads from the aforementioned regions had dwarfed the demand of the Chinese market. Tencent's overseas revenue has grown by four per cent to $1.56 billion in the first quarter of the year. Meanwhile, the revenue on the domestic front fell by one per cent. Moreover, owing to the gaming restrictions, the Chinese regulators are yet to secure a single licence to develop and publish new games. Earlier this month, 69 video game licenses were distributed but not a single one went Tencent's way. Xi Jinping's crusade to neuter the tech sector As reported extensively by WION, last year, Xi Jinping, on his crusade to teach the tech sector a lesson, went after nearly every big company. While Alibaba's Jack Ma mysteriously disappeared from the public eye for several weeks and the company's IPO tanked, Tencent and its fortunes were tied in a cul-de-sac as the CCP came riding with its restrictive laws. Read More: Three hours a week: China's new rules for children playing video games Reportedly, under the restrictions, anyone under 18 years old can only play video games three hours a week, or one hour per day at 8 PM on Fridays through Sundays, that is, the weeknights. The restrictions came into force in September 2021 and since then, they have remained in effect. According to the Game Publishing Committee of the China Audio-Video and Digital Publishing Association, the total number of gamers in China fell for the first time since 2015 to 665.69 million from 665.57 million. Meanwhile, the industry’s revenue dropped 1.8 per cent to $21.9 billion in the first six months of the year, compared to the same period last year. The numbers may not look astronomical but the fact that China's once booming gaming industry is showing signs of a slowdown has given Tencent, the world's largest video gaming business by revenue, a reason enough to pivot overseas. (With inputs from agencies) WATCH WION LIVE HERE:

Troubled by crackdown on gaming industry, Tencent mulls venturing overseas

Chinese technology giants have shared details of their prized algorithms with the country’s powerful cyberspace regulator. It comes as Beijing cracks down on Big Tech in the country. Molly Gambhir tells you more.

WION Fineprint: Chinese tech giants hand algorithm data to government

From Tencent Holdings Ltd. to ByteDance Ltd., China's internet behemoths have revealed details of their treasured algorithms to Beijing for the first time, an extraordinary move aimed at curtailing data misuse that may jeopardise highly guarded company secrets.

The internet watchdog issued a report on Friday listing 30 algorithms used by companies such as Alibaba Group Holding Ltd. and Meituan to collect data on users, make personal recommendations, and offer up content. While the public list did not expose the actual code, it remained unclear how much information internet companies may have supplied to authorities in private.

Many online businesses believe the algorithms that determine which TikTok videos, WeChat posts, and Instagram photographs users see to be the secret sauce, important in catching user attention and driving development.&nbsp;

China implemented legislation in March requiring internet businesses to disclose such tools, in an effort to address complaints about data exploitation while also assisting regulators in keeping internet corporations on a leash.

Algorithms in the IT sector are carefully guarded and have been at the centre of political issues all around the world.&nbsp;

That disclosure requirement distinguishes China from countries such as the United States, where companies such as Meta Platforms Inc. and Alphabet Inc. have successfully argued that algorithms are trade secrets, even as lawmakers and activists seek to better understand how they curate content and manage data.

The Chinese Cyberspace Administration now demands just basic information from corporations, but it may seek additional specifics to investigate complaints of data abuses, according to Zhai. According to Ding Mengdan, a lawyer at Beijing Yingke law firm's Hangzhou branch, the publication of the list indicates that the implementation process is proceeding successfully.

China has tightened laws to limit the once-unchecked growth of the country's digital behemoths. Last year, the government passed the Personal Information Protection Law and the Data Security Law, which established stricter guidelines for how businesses manage user data.

The list of algorithms available for public review is limited to brief descriptions of how they work as well as the products and use cases to which they apply. ByteDance, for example, claims that their algorithm uses a user's likes and dislikes to promote content on applications such as Douyin, TikTok's Chinese cousin. According to Meituan, its algorithms assist in dispatching food orders to riders in the most effective manner depending on their downtime and delivery route.

According to the laws, companies must also give non-public information to the CAC, including a self-assessment of the algorithms' security, the data they gather, if any sensitive biometric or identity information is included, and what data sources are utilised to train algorithms.

(With inputs from agencies)&nbsp; 
&nbsp;

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From Tencent Holdings Ltd. to ByteDance Ltd., China's internet behemoths have revealed details of their treasured algorithms to Beijing for the first time, an extraordinary move aimed at curtailing data misuse that may jeopardise highly guarded company secrets.

From Tencent Holdings Ltd. to ByteDance Ltd., China's internet behemoths have revealed details of their treasured algorithms to Beijing for the first time, an extraordinary move aimed at curtailing data misuse that may jeopardise highly guarded company secrets. The internet watchdog issued a report on Friday listing 30 algorithms used by companies such as Alibaba Group Holding Ltd. and Meituan to collect data on users, make personal recommendations, and offer up content. While the public list did not expose the actual code, it remained unclear how much information internet companies may have supplied to authorities in private. Many online businesses believe the algorithms that determine which TikTok videos, WeChat posts, and Instagram photographs users see to be the secret sauce, important in catching user attention and driving development. China implemented legislation in March requiring internet businesses to disclose such tools, in an effort to address complaints about data exploitation while also assisting regulators in keeping internet corporations on a leash. Algorithms in the IT sector are carefully guarded and have been at the centre of political issues all around the world. That disclosure requirement distinguishes China from countries such as the United States, where companies such as Meta Platforms Inc. and Alphabet Inc. have successfully argued that algorithms are trade secrets, even as lawmakers and activists seek to better understand how they curate content and manage data. The Chinese Cyberspace Administration now demands just basic information from corporations, but it may seek additional specifics to investigate complaints of data abuses, according to Zhai. According to Ding Mengdan, a lawyer at Beijing Yingke law firm's Hangzhou branch, the publication of the list indicates that the implementation process is proceeding successfully. China has tightened laws to limit the once-unchecked growth of the country's digital behemoths. Last year, the government passed the Personal Information Protection Law and the Data Security Law, which established stricter guidelines for how businesses manage user data. The list of algorithms available for public review is limited to brief descriptions of how they work as well as the products and use cases to which they apply. ByteDance, for example, claims that their algorithm uses a user's likes and dislikes to promote content on applications such as Douyin, TikTok's Chinese cousin. According to Meituan, its algorithms assist in dispatching food orders to riders in the most effective manner depending on their downtime and delivery route. According to the laws, companies must also give non-public information to the CAC, including a self-assessment of the algorithms' security, the data they gather, if any sensitive biometric or identity information is included, and what data sources are utilised to train algorithms. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Alibaba, ByteDance share top secret algorithms to Chinese government for first time

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