Alibaba has disclosed that more than 12 of its business units are partially state-owned. This revelation comes amid increased scrutiny of China’s tech giants by the government. The state ownership does not imply direct control but indicates a closer relationship between Alibaba and the Chinese government. The move is seen as part of a broader trend of tech companies in China revealing their ties to the government, following regulatory crackdowns on the sector. Alibaba’s shares have been under pressure due to regulatory concerns, and this disclosure could have significant implications for the company’s future operations and strategy.
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