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China tech

Alibaba calls China crackdown a 'challenge,' but no news on Ant IPO

E-commerce giant vows to shoulder more social responsibility amid probe

Alibaba Group's Beijing office: China's changing regulatory landscape "presents near-term challenges" to the group.   © Reuters

HONG KONG -- The chairman and CEO of Alibaba Group Holding expects the company to be challenged by China's tightening rules on internet platforms, as the e-commerce conglomerate reported better-than-expected quarterly earnings on Tuesday.

For the September-December period, Alibaba revenue jumped 37% to 221.08 billion yuan ($34.2 billion), and net income rose 27% to 59.2 billion yuan, the company said, with both figures beating analysts' estimates.

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