Feb 27, 07:56 PM

Alibaba discloses Chinese government stakes in 12 units, state-owned enterprises involved, 6 direct-sales businesses, less than 6% revenue, Hangzhou-based, entities partially owned by Chinese state-owned enterprises or foreign sovereign wealth funds, following US SEC inquiry, China's regulators overhaul trust industry, focus on risk control

Alibaba discloses Chinese government stakes in over 12 business units, with state-owned enterprises having shares in 6 direct-sales businesses, contributing less than 6% of total revenue. The Hangzhou-based e-commerce giant reveals entities partially owned by Chinese state-owned enterprises or foreign sovereign wealth funds, following an inquiry by the US SEC. The disclosure comes after China's regulators work to overhaul the trust industry, focusing on risk control and tightening oversight.

#Alibaba #Chinese #Hangzhou #US SEC #China

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