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Alibaba posts 124 per cent gain in quarterly profit, sees China retail back to pre-pandemic levels

E-commerce giant Alibaba Group Holding said it is closely monitoring the latest shift in US government policies towards Chinese companies, after the company posted a 124 per cent increase in profit and strong domestic retail sales in the June quarter.“Today we face uncertainties from not only the global pandemic, but also increasing tensions between the US and China,” said Daniel Zhang Yong, chairman and chief executive of Alibaba, in a conference call with analysts on Thursday, after…

Read the original article at South China Morning Post

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