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ALIBABA CEO SAYS REGULATIONS FOR INTERNET FIRMS 'NECESSARY'
AppleMagazine
|AppleMagazine #474
The chairman and CEO of e-commerce giant Alibaba Group praised Chinese regulators in a possible attempt to repair ties after the stock market debut of its former financial services arm was suspended following criticism of them by billionaire Alibaba founder Jack Ma.
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Beijing’s announcement of proposed guidelines to regulate internet companies is “timely and necessary,” Daniel Zhang said in a speech at the government-organized World Internet Conference in Wuzhen, a town in Zhejiang province, just south of Shanghai.
While Zhang did not specify which regulations he was referring to, China on Nov. 10 announced proposed guidelines on how anti-competition would apply to internet companies. They highlighted potential areas regulators might target, including exclusive contracts, which are common practices used by e-commerce firms and other internet companies.
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