load_file(“/includes/top.html”);load_file(“/includes/navmenu.html”);Alibaba increases share repurchase program from $6b to $10bSource: Global Times Published: 2020/12/28 10:58:39load_file(“/includes/article_shareup.html”);A person walks towards a building of Alibaba Ant Group in Hangzhou, East Chinas Zhejiang Province in April 2018. Souce:ICAlibaba Group Holding said on Sunday its board has authorized an increase in the companys share repurchase program to $10 billion up from $6 billion. The move reflects the companys adequate cash flow and optimistic outlook for its future development, analysts said.The share repurchase program will be effective over a two-year period through the end of 2022. The company has already started to implement the program this quarter, Alibaba said in a statement.The move reflects Alibabas self-confidence and cautiousness amid this period when China is ramping up anti-monopoly efforts and regulation targeting the fintech sector, Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Science and Technology, told the Global Times on Monday.”It indicates that the company has now sufficient cash flow and holds an optimistic outlook for its future development,” Dong said.Shares of Alibaba tumbled 3.86 percent to HK$219.4 ($28.3) at Mondays opening on the Hong Kong Stock Exchange while Ali Health down 2.54 percent following Chinas top financial regulatory authorities interviewed Alibaba Groups fintech offshoot Ant Group on Saturday. Financial regulators, including the central bank, pointed out a range of major problems confronting Ants current operations including its poor governance, risk monitoring, defiance of regulatory and compliance requirements, and illegal regulatory arbitrage.In a quick response, Ant said it will set up an internal task force under the guidance of the regulators to implement the interviews requirements and regulate operation and development of financial businesses.Alibabas US stocks plunged 13.34 percent last Thursday, the largest drop in a single day since its listing, and the market value evaporated by nearly $100 billion.RELATED ARTICLES:Ant to embrace makeover for new starting pointChinas top market watchdog completed on-site investigation into Alibaba on Thursday, local authority told media How Alibaba probe can promote harmony among enterprises, entrepreneurs and Chinese society?Posted in: COMPANIESvar wxs = (function() {return navigator.userAgent.toLowerCase().indexOf(micromessenger) !== -1})();if (!wxs) {/* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * */var disqus_shortname = globaltimes; // required: replace example with your forum shortnamevar disqus_identifier = 1211185;/* * * DONT EDIT BELOW THIS LINE * * */(function () {var dsq = document.createElement(script); dsq.type = text/javascript; dsq.async = true;dsq.src = https:// + disqus_shortname +;(document.getElementsByTagName(head)[0] || document.getElementsByTagName(body)[0]).appendChild(dsq);})();}Please enable JavaScript to view the comments powered by comments powered by Disqusload_file(“/includes/biz_right.html”);load_file(“/includes/footer.html”);$(document).ready(function($){$(“#channel-list .row-content”).each(function(){  if($(this).children().length==1){$(this).children().css(width,100%);}
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