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China tech

As Jack Ma era ends, Alibaba sets high goal for cloud business

Successor Daniel Zhang aims to double group's user base to 2 billion by 2036

Alibaba Group Holding founder Jack Ma, left, with Daniel Zhang, his successor as chairman and CEO, in 2015.     © Reuters

HONG KONG -- Alibaba Group Holding's cloud services business will turn a profit for the first time this year thanks to work-from-home demand driven by the coronavirus pandemic, according to Daniel Zhang, the group's chairman and chief executive.

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