Phate Zhang

Alibaba is the first but not the last, and the huge fine greatly enhances the regulation and contributes to long-term economic order fairness and efficient development of innovation, the team said.

Alibaba is not aware of any other anti-monopoly investigations, he said.

Chinese market regulator has fined e-commerce giant Alibaba Group 18.2 billion yuan ($2.8 billion), or 4 percent of its 2019 China sales of 455.7 billion yuan, after an investigation into the company.

The ADR of US-traded Tencent Holdings fell nearly 10 percent pre-market after its largest shareholder Prosus announced plans to sell HK$114.1 billion worth of its holdings.

On April 6, short-seller Hindenburg Research published a report claiming that Ebang transferred funds illegally through insider trading.

Huawei's 2020 sales revenue rose 3.8 percent year-on-year to RMB 891.4 billion ($136 billion) and net profit rose 3.2 percent year-on-year to RMB 64.6 billion, according to figures released by the company today.

Microsoft China hinted on Weibo on March 30 that a Chinese version of the Xbox Series X is coming soon in order to get a piece of the increasingly popular game console market in China.

The new logo is based on a new design concept called "Alive" by Japanese graphic designer Kenya Hara, which incorporates Eastern philosophical thinking into Xiaomi's brand vision.

Chinese e-commerce platforms, including Alibaba's Taobao, are removing overseas versions of game consoles including the PS5, Xbox Series X/S, a move that is expected to significantly squeeze the viability of this gray market.

Net loss for the quarter was RMB 237 million, compared to net income of RMB 7.8 million in the third quarter of 2020, according to the company's earnings report released today.