Ecommerce giant Alibaba reported better than expected sales growth despite growing threats to its business from surging rivals and policymakers abroad.
Daniel Zhang, chief executive, said Alibaba was “closely monitoring the latest shift in US government policies towards Chinese companies” and noted that it would comply with new regulation.
In India, Mr Zhang said it halted operations of its popular UC Browser app and other innovation initiatives after New Delhi blacklisted it along with dozens of other Chinese apps. Mr Zhang said it would not have a material impact on its results.
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