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Shares of Alibaba Group Holding Ltd listed in Hong Kong fell on Monday over 7% to HK$212.20 ($27.37) after the company raised its share repurchase program to $10 billion from $6 billion.

"This Share Repurchase Program will be effective for a two-year period through the end of 2022," Alibaba said in a statement late on Sunday.


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China’s central bank disclosed on Sunday it had asked the country’s payments giant Ant Group Co Ltd to shake up its lending and other consumer finance operations, the latest blow to its billionaire founder and controlling shareholder Jack Ma.

The announcement came more than a month after Chinese regulators abruptly suspended Ant’s blockbuster $37 billion initial public offering in Shanghai and Hong Kong, and only days after the country&rsq...


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China has launched an antitrust investigation into Alibaba Group and will summon the tech giant’s Ant Group affiliate to meet in coming days, regulators said on Thursday, in the latest blow for Jack Ma’s e-commerce and fintech empire.

The probe is part of an accelerating crackdown on anticompetitive behaviour in China’s booming internet space, and the latest setback for Ma, the 56-year-old former school teacher who founded Alibaba and became China’s most famous entrepreneur.

It follows China’s dramatic suspension last month of Ant’s planned $37 billion initial public offering, which had been on track to be the world’s largest, just two days before shares were due to begin trading in Shanghai and Hong Kong.


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Contradicting his secretary of state and other top officials, President Donald Trump on Saturday suggested without evidence that China — not Russia — may be behind the cyberattack against the United States and tried to minimized its impact.

In his first comments on the breach, Trump scoffed at the focus on the Kremlin and downplayed the intrusions, which the nation’s cybersecurity agency has warned posed a “grave” risk to government and private networks.

“The Cyber Hack is far greater in the Fake News Media than in actuality. I have been fully briefed and everything is well under control,” Trump tweeted. He also claimed the media are “petrified” of “discussing the possibility that it may be China (it may!).”


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The United States added dozens of Chinese companies, including the country’s top chipmaker SMIC and Chinese drone manufacturer SZ DJI Technology Co Ltd, to a trade blacklist on Friday as U.S. President Donald Trump’s administration ramps up pressure on China in his final weeks in office.

Reuters first reported the addition of SMIC and dozens of additional companies eary Friday. The move is seen as the latest in Republican Trump’s efforts to cement his tough-on-China legacy as part of lengthy fight between Washington and Beijing over trade and numerous economic issues.


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Shopping app Wish’s parent company ContextLogic Inc saw its share price fall more than 5% in its trading debut on Wednesday, after raising $1.1 billion in an initial public offering (IPO).

The lackluster debut comes after mega-IPOs and stellar first-day pops of companies including Airbnb Inc, DoorDash Inc and SnowFlake Inc.

ContextLogic was founded in 2010 by Chief Executive Peter Szulczewski, formerly of Google, and Yahoo veteran Danny Zhang. Its Wish app is known for selling bargains from China and boasts 100 million monthly active users globally.


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China’s market regulator said on Monday it fined Alibaba Group, Tencent Holdings-backed China Literature and Shenzhen Hive Box 500,000 yuan ($76,464.29) each for not reporting deals properly for anti-trust reviews.

The State Administration of Market Regulation (SAMR) said it had taken the decision after reviewing deals by the firms, including Alibaba’s deal with Intime Retail (Group) Co Ltd, China Literature’s acquisition of New Classics Media, and Shenzhen Hive Box’s acquisition of China Post Smart Logistics.


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President Donald Trump offered a new rationale Sunday for threatening to veto the annual defense policy bill that covers the military’s budget for equipment and pay raises for service members: China. He did not outline his concerns.

Republican and Democratic lawmakers say the wide-ranging defense policy bill, which the Senate sent to the president on Friday, would be tough on China and must become law as soon as possible.

Both the House and Senate passed the measure by margins large enough to override a potential veto from the president, who has a history of failing to carry out actions he has threatened.


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S&P Dow Jones Indices on Thursday became the second major index provider to remove some Chinese companies from its index products following a Trump administration executive order, in the latest market disruption from persistent Sino-U.S. tensions.

Outgoing U.S. President Donald Trump’s executive order, unveiled in November, is designed to deter U.S. investment firms, pension funds and others from buying shares of Chinese companies designated by the U.S. Defense Department as backed by the Chinese military.

S&P DJI said it would remove mainland-listed A-shares, Hong Kong-listed H-shares and American Depositary Receipts (ADRs) of 10 companies including Hangzhou Hikvision Digital Technology Co Ltd and Semiconductor Manufacturing International Corp (SMIC) from all equity indexes prior to the market open on Dec. 21.


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Republican Senator Marco Rubio and Democratic Representative Jim McGovern on Tuesday sent letters to Intel Corp and Nvidia Corp seeking information on the sale of advanced computer chips allegedly used by China to conduct mass surveillance on Uighurs in the country’s remote Xinjiang region.

Rubio is chairman of the Senate Foreign Relations subcommittee which oversees human rights, and McGovern chairs the Congressional-Executive Commission on China.

The letters were sent to the chief executives of the companies, who were asked to respond to questions about their exports to China.