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Alibaba posts 37% growth but concerns remain over growing government crackdown

February 3, 2021

Via: Charged

Alibaba powered ahead of analyst estimates to see revenues rise 37 per cent over its previous quarter, but concerns remain over growing government crackdowns.

The Chinese ecommerce giant saw revenues hit RMB221.1 billion (£25.09 billion) over its third quarter, comfortably beating analyst expectations.

However, its growth was largely driven by its recent acquisition of supermarket chain Sun Art which it purchased in October, as well as China’s economic growth during the period.

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