About: http://data.cimple.eu/news-article/16b914f62940208e38427846ab660e1780a50c860e7a639f45df4087

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About: http://data.cimple.eu/news-article/16b914f62940208e38427846ab660e1780a50c860e7a639f45df4087 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Chinese e-commerce giant Alibaba said Thursday it fell to a $1.17 billion operational loss in its latest financial quarter due to a record fine levied by the government for anti-competitive practices. The Hangzhou-based company was fined 18.2 billion yuan ($2.78 billion) last month as part of a push by regulators to rein in dominant digital platforms that have achieved unprecedented influence over the daily lives of hundreds of millions of Chinese consumers. Alibaba said however that its business continued to post solid growth and that without the hole blown in its finances by the fine, it would have posted an operating profit of $1.6 billion, up 48 percent. Alibaba, Tencent, JD.com and other big tech players became hugely profitable on growing Chinese digital lifestyles, plus government restrictions on major US competitors in the domestic market. But concern has risen over their influence in China, where tech-savvy consumers use them to communicate, shop, pay bills, book taxis, take out loans and perform a range of other daily tasks. Alibaba has faced special scrutiny after billionaire co-founder Jack Ma publicly criticised Chinese regulators in October for reining in a push into online lending, wealth management and insurance products by Alibaba's online payments arm Ant Group. dma/axn
schema:headline	Record fine drags e-commerce giant Alibaba to rare loss
schema:mentions	Alibaba Group Digital media Rein E-commerce Big Four tech companies Renminbi Jack Ma Billionaire Insurance China Anti-competitive practices Reining Media market JD.com Wealth management Tencent AXN
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-13 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	75 (xsd:integer)

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