Alibaba (NYSE:BABA), (MPNGF) – Alibaba CEO Calls China’s New Fintech Regulations ‘Timely And Necessary’ After Ant IPO Ax

Alibaba Group Holding Ltd (NYSE: BABA) CEO Daniel Zhang said that Beijing’s draft rules to prevent monopolistic behavior by China’s internet platforms are “timely and necessary,” Reuters reported Monday (Beijing time)

What Happened: Zhang, speaking at the World Internet Conference held in Wuzhen, China, said that the country’s regulations need a shakeup. 

The Chinese internet industry’s “development and government supervision is a relationship that promotes and relies on each other, so that platform enterprises cannot only develop well themselves, but also serve the sustainable and healthy development of the whole society,” the Alibaba CEO said.

The annual conference takes place on Nov. 23 and Nov. 24 and is organized by the Cyberspace Administration of China, the country’s internet watchdog and censor.   

China’s internet giants such as Tencent Holdings Limited (OTC: TCEHY), Alibaba, and Meituan (OTC: MPNGF) are reportedly under greater government scrutiny. 

Why It Matters: The draft rules, published Nov.

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Alibaba Emerging As A Value Play, Tencent Navigates Regulatory Minefield (NYSE:BABA)

By ALT Perspective for Chinese Internet Weekly

It was an action-packed week on both sides of the Pacific. The developments led to sharply contrasting share price directions of various stocks, whether they are American or Chinese.

On Monday, strong China trade data released over the weekend fired off bullish sentiment. Chinese export growth accelerated at the quickest pace in 19 months in October, rising 11.4 percent from a year earlier and faster than the 9.9 percent increase in September. It was even more remarkable when you consider that analysts had expected a slowdown, with the consensus forecast for a 9.3 percent increase.

Experts are struggling to agree on the export outlook. The current wave of coronavirus cases has sent several countries back into lockdown, pressuring economic activities, and consequently, import demand from China. On the other hand, Chinese factories could benefit from orders shifted from affected global ones and higher

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