New Delhi: The Chinese government has given a big order against Alibaba and Ant Group founder Jack Ma. The government there has reportedly ordered that Alibaba must sell its media assets. This has been revealed in The Wall Street Journal report. In this report, Chinese officials said that the public is worried about the influence of the giant technology company in the country.
Let us tell you that Alibaba acquired South China Morning Post last year, after which he took his step forward in the field of media. Let us tell you that this is a newspaper of China, which was launched in Hong Kong about 118 years ago.
The company has these media holdings
In addition, the company also has media holdings, including technology news site 36KR, state-owned Shanghai Media Group, stake in a Twitter-like Weibo platform, and several popular Chinese digital and print news outlets.
This information is given in the report
The report said on Monday that Alibaba has established a joint venture or partnership with Xinhua News Agency and a group of local government-run newspapers in Xinjiang and Sichuan provinces.
According to a report released by the WSJ, the Chinese regulator is concerned about Alibaba’s expansion in media interest and has asked the company to come up with a plan to curb its media holdings substantially. The government did not say which assets would have to be removed.
Let us tell you, Jack Ma was the richest person in China in the Hurun Global Rich List in the year 2020 and 2019, but now this place of Zhong Shanshan, Zhong Shanshan of Nongfu Spring, Tencent Holding. Pony Ma and Pinduoduo’s Collin Huang have taken the stand of e-commerce.
