Alibaba

SAIC invested 5.4 billion yuan, Zhangjiang invested 1.8 billion yuan, and Alibaba and other companies invested 2.8 billion yuan in the project, local reports said.

Alibaba's revenue rose 30 percent year-on-year to RMB 155.06 billion in the second quarter of fiscal 2021, which ended September 30, 2020, slightly ahead of market expectations of RMB 154.84 billion.

To support Alibaba's record-breaking transaction peaks, five super data centers, including Zhang Bei, Ulanqab, Heyuan, Nantong and Hangzhou, will work together to provide computing power during the Singles Day shopping festival on November 11, said Zhou Ming, vice president of Alibaba Group and head of Alibaba Cloud's infrastructure unit. 

Alibaba on November 2 announced the launch of the Central China headquarters project in Wuhan, Hubei province, and the park is expected to be completed in 2026.

Hangzhou Municipal Government and Ant Group signed a strategic cooperation framework agreement, and Ant Group's global headquarters officially settled in Hangzhou to accelerate the creation of the country's "first city of digital economy".

The US government is exploring restrictions on Ant Group as well as Tencent over concerns that their digital payment platforms threaten US national security, Bloomberg reported on Wednesday citing people familiar with the matter.

At the 2020 Alibaba Global Investor Conference, Alibaba Group Chief Financial Officer Wu Wei revealed for the first time that in recent years, Alibaba has been investing more than 100 billion yuan a year in technology and research and development.

Alibaba founder Jack Ma ceased to be a director of Alibaba Group with immediate effect, in accordance with a series of succession arrangements made two years ago, according to an announcement of Alibaba's annual general meeting on September 30.

Alipay, a subsidiary of Alibaba, said today that Industrial and Commercial Bank of China (ICBC)'s key business system, the corporate wealth management system, has recently completed the transformation from mainframe to distributed architecture and is running smoothly on financial level database OceanBase.

A year ago, Alibaba unveiled its first AI chip, the Hanguang 800, the most powerful AI reasoning chip at the time. The company recently shared an update on the Hanguang 800's progress nearly a year after its launch.