The Chinese technology giant will embark on the biggest restructuring in its history.
Shares of Chinese tech giant Alibaba jumped after the company announced plans to separate its lucrative payments business, Alipay, into a separate entity. The move comes as Chinese regulators increase scrutiny of the country's tech companies, particularly around issues of data privacy and financial stability. By separating Alipay, Alibaba hopes to reduce regulatory pressure on its other businesses, including its e-commerce platform, which has also faced scrutiny from regulators. The move is seen as a strategic one for Alibaba, which is facing increasing competition from rival companies in the Chinese market. However, some analysts have raised concerns about the impact of the move on Alibaba's bottom line.
from BBC News - Technology https://ift.tt/sUBlGYa
