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Alibaba flies above Ant turmoil with strong earnings growth

Group will continue to offer customer credits despite clampdown on microloans: chairman

The abrupt halt of the much-anticipated listing of Ant Group, of which Alibaba Group Holding holds a one-third stake, has cast a shadow over the e-commerce company's outlook.   © Reuters

HONG KONG -- Alibaba Group Holding, China's largest e-commerce company, shrugged off concerns over the last-minute suspension of the highly anticipated listing of affiliate Ant Group with another quarter of strong earnings growth, as the online shopping momentum amid the coronavirus pandemic continues.

But analysts say strong regulatory signals from Beijing about reining in online lending could harm e-commerce transaction volumes, as well as Alibaba's bottom line where it records profits from its one-third ownership of Ant.

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