Alibaba’s founder sold massive shares. What does that mean for China? ...Middle East

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Alibaba’s founder sold massive shares. What does that mean for China?
While Chinese leader Xi Jinping was meeting with President Biden and dining with 300 American CEOs in San Francisco on Nov. 16, news emerged that Chinese billionaire Jack Ma’s family trust was set to sell 10 million American Depository Shares of Alibaba Group Holdings on Nov. 21, fetching approximately $871 million.  Ma’s move could not have come at a worse time for Alibaba. The Chinese e-commerce giant recently reversed plans to spin off its cloud operations and halted the listing of its supermarket unit, both crucial avenues for unlocking the value of its expansive business. This shift in strategy is believed to be influenced by the United States imposing tighter restrictions on chip

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