The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAlibaba Group H Share News (0HCI)

Share Price Information for Alibaba Group H (0HCI)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 81.20
Bid: 78.60
Ask: 82.80
Change: 1.70 (2.15%)
Spread: 4.20 (5.344%)
Open: 81.20
High: 81.20
Low: 81.20
Prev. Close: 79.00
0HCI Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

China to send state officials to 100 private firms including Alibaba

Mon, 23rd Sep 2019 07:16

By Josh Horwitz

SHANGHAI, Sept 23 (Reuters) - China's top technology hubHangzhou plans to assign government officials to work with 100private companies including e-commerce giant Alibaba, accordingto state media reports, in a move likely to raise concerns overthe growing role of the state.

The step underscores how Chinese government and partyauthorities are growing more deeply integrated into the privatesector, as its economy sputters amid an intensifying trade warwith the United States.

The city of Hangzhou, home to Alibaba Group Holding Ltd, will designate government officials to work with 100local companies in the eastern province of Zhejiang, the localgovernment said on its website.

The directives, presented as a means to boost the localmanufacturing industry, did not name the 100 companies subjectto the policy, but state media reports said Alibaba and automaker Zhejiang Geely Automobile Holdings Ltd would beamong the companies.

Alibaba said the plan would not interfere with itsoperations.

"We understand this initiative... aims to foster a betterbusiness environment in support of Hangzhou-based enterprises.The government representative will function as a bridge to theprivate sector, and will not interfere with the company'soperations," Alibaba said in a statement.

Geely did not immediately respond to a request for comment.

Chinese law has long required private companies, includingforeign entities, to establish formal party organizations.

Such groups were once seen as largely symbolic. However, inrecent years, foreign executives have said https://www.reuters.com/article/us-china-congress-companies/exclusive-in-china-the-partys-push-for-influence-inside-foreign-firms-stirs-fears-idUSKCN1B40JUthey have come under increasing pressure to allow partyrepresentatives more sway over business operations.

Domestic companies have strengthened party committees aswell. In 2018, dozens of Chinese banks announced changes totheir articles of association, granting more power to partycommittees.(Reporting by Josh Horwitz; Editing by Miyoung Kim & ShriNavaratnam)

More News
19 Sep 2019 09:45

SingPost's U.S. e-commerce units seek bankruptcy protection

SINGAPORE, Sept 19 (Reuters) - Singapore Post Ltd said its two struggling U.S. e-commerce units, Jagged Peak and TradeGlobal, have filed voluntary petitions for Chapter 11 bankruptcy protection as

Read more
12 Sep 2019 10:47

Charles Li, Hong Kong's charismatic exchange chief, leads charge for LSE

By Alun John HONG KONG, Sept 12 (Reuters) - When Hong Kong Exchange chief executive Charles Li described his company's surprise offer for the London Stock Exchange this week as a of

Read more
11 Sep 2019 07:26

MOVES-China's JD.com reloads deal-making with investment head appointment

(Adds JD.com's updated statement) By Julie Zhu and Yingzhi Yang HONG KONG/BEIJING, Sept 11 (Reuters) - China's second-largest e-commerce firm JD.com Inc has appointed Jason

Read more
11 Sep 2019 05:55

MOVES-China's JD.com appoints PE veteran as strategic investment head -sources

By Julie Zhu and Yingzhi Yang HONG KONG/BEIJING, Sept 11 (Reuters) - China's second-largest e-commerce firm JD.com Inc has hired Jason Hu, a former managing director at Chinese private

Read more
10 Sep 2019 00:00

RPT-Alibaba set for 'big challenge' as flamboyant chairman Ma departs

By Josh Horwitz SHANGHAI, Sept 9 (Reuters) - Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the

Read more
9 Sep 2019 10:16

Alibaba set for 'big challenge' as flamboyant chairman Ma departs

By Josh Horwitz SHANGHAI, Sept 9 (Reuters) - Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the

Read more
9 Sep 2019 09:19

GRAPHIC-Take Five: Of bazookas, bats and Brexit

(Repeats story from Friday, updates Brexit and China entries, adds links) LONDON, Sept 6 (Reuters) - 1/GO BIG, ECB, OR GO HOME Bond markets have become accustomed to getting their own way.

Read more
6 Sep 2019 15:25

GRAPHIC-Take Five: Of bazookas, bats and Brexit

LONDON, Sept 6 (Reuters) - 1/GO BIG, ECB, OR GO HOME Bond markets have become accustomed to getting their own way. So on Thursday when the ECB holds one of its most anticipated meetings ever, they

Read more
6 Sep 2019 10:23

Tencent wraps up biggest, tightest loan

* Loans: Tech giant takes advantage of strong liquidity to complete US$6.5bn financing By Apple Lam HONG KONG, Sept 6 (LPC) - Chinese tech giant Tencent Holdings has completed its as

Read more
6 Sep 2019 01:24

NetEase sells Kaola unit to Alibaba for $2 billion

Sept 5 (Reuters) - NetEase Inc said on Thursday it agreed to sell its Chinese e-commerce business Kaola to Alibaba Group Holding Ltd for $2 billion. Alibaba intends to let Kaola continue to

Read more
5 Sep 2019 16:41

LIVE MARKETS-Closing snapshot: Europe rides high

* European shares higher, STOXX up 0.7% * China, U.S. to hold trade talks in October * Safran, Dassault Aviation rally on results, CYBG tanks * German orders

Read more
5 Sep 2019 14:27

LIVE MARKETS-Give me a P: is Europe about to get its own tech acronym?

* European shares higher, STOXX up 0.7% * China, U.S. to hold trade talks in October * Safran, Dassault Aviation rally on results, CYBG tanks * German orders

Read more
1 Sep 2019 07:00

UPDATE 1-China Minmetals unit buys Fanya metal exchange antimony, rare earth stocks

* China Minmetals unit buys all 3 inventories in online auction * Antimony, terbium oxide, dysprosium oxide sold for $110 mln * Inventory sold at auction starting prices set by to of

Read more
1 Sep 2019 04:49

China court sells Fanya metal exchange antimony, rare earth stocks

BEIJING, Sept 1 (Reuters) - Metal and rare earth inventories formerly held by southwest China's defunct Fanya Metal Exchange were auctioned off for minimum asking prices totalling yuan ($110 a

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.