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2021-03-17

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Alibaba stocks advanced more than 2%

Alibaba plans to set up a version of its TaobaoDeals app that can operate on rival $Tencent$ 's WeChat socialnetwork in a concession to Chinese regulators cracking down on tech company overreach.Tencent will have to approve of the app before it appears on WeChat, which has more than one billion users and already offers online payment and ride-sharing services.Alibaba and Tencent are both in the crosshairs of Chinese regulators due to the former's ties to Jack Ma and his Ant Group fintech and the

Alibaba stocks advanced more than 2%

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