The Chinese Communist Party has reportedly asked Alibaba Group to sell its holdings in the media sector. On Monday, The Wall Street Journal (WSJ) reported that Beijing was concerned about Alibaba’s influence on opinion in the country. Government officials would also have been shocked at how extensive Alibaba’s media holdings already are. The e-commerce company, whose main business is online retail, has stakes in the Twitter-like Weibo platform and several news outlets, including the Hong Kong-based South China Morning Post newspaper, for example. Such influence is seen as a severe challenge to the Chinese Communist Party and its own powerful propaganda apparatus, the WSJ sources said. Alibaba has therefore been asked to significantly reduce its media holdings.
Continue reading now
Get 30 days of free access to the Decision Brief to read these and more quality news every day.
Are you already a guest at the China.Table? Log in now