Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Alibaba is back in Beijing's good books for helping to fix poverty

Alibaba is back in Beijing's good books for helping to fix poverty

Jack Ma's tech empire may still be facing tough new regulations in China, but Alibaba seems to have won at least a little bit of favor this week from President Xi Jinping.
Alibaba was one of hundreds of companies that Xi commended on Thursday during a ceremony intended to bolster his years-long campaign to wipe out extreme poverty in the country.

Alibaba is a "model" of "national poverty alleviation," according to the certificate it received from the government. The company posted the certification on its Weibo account.

The company also received kudos for its efforts from Chinese state media, which this week called attention to Alibaba's efforts to help farmers sell some $155 billion worth of agricultural products through its e-commerce websites in support of Xi's campaign. State-run China Youth Daily published a report on Wednesday praising the company for its innovations, such as using AI algorithms to help farmers raise chicken, helping people sell agricultural products through live-streaming, providing education and training to poor women in the countryside, and extending loans to rural regions through its online banking services.

The government-backed praise is welcome news for Alibaba and Ma, which for months have been caught up in an intensifying crackdown by Beijing on the country's tech sector, including an anti-trust investigation.

The e-commerce giant's financial tech affiliate, Ant Group, is also expected to undergo major restructuring to satisfy regulators who are concerned about its vast reach in digital payments and finance. Ant's highly anticipated IPO was called off late last year after Ma criticized Chinese regulators.

The criticism of Ma in particular — who had not been seen in public for months before he briefly reemerged in January — even appeared to make its way into state media. Last month, he was left off a list of major Chinese business leaders compiled by the Shanghai Securities Journal.

And late last year, The People's Daily — the mouthpiece of the Chinese Communist Party — published an opinion piece urging tech firms to take more responsibility and focus less on short-term results.

"Internet giants with massive amounts of data and advanced algorithms should have more responsibility, more aspirations, and more accomplishments in technological innovation," the piece read.

Alibaba "is privileged to have participated in [the anti-poverty campaign]," Alibaba wrote in a Weibo post Thursday.

Toeing the party line has a lot of benefits for Alibaba. Xi made clear last September that he expected private companies to support the work of the Communist Party.

Tech firms contributing to Xi's anti-poverty campaign are fulfilling their obligation of "serving the state," according to Alex Capri, a research fellow at Hinrich Foundation and a visiting senior fellow at National University of Singapore.

"This reflects well upon the party and wins support," he added. "As long as Big Tech is seen to be in proper alignment with the [Party's] nationalist message, they will be spared further public chastisement."

Even so, Capri cautioned that the praise for Alibaba this week "is not a contradiction of the Chinese Communist Party's hard line against Big Tech."

He still expects that the government will continue its crackdown, which is fueled by concerns that tech firms have too much influence over China's financial system. Several media outlets have reported that Ant, for example, has agreed with authorities to become a financial holding company — a move that could force it to scale down its aspirations to be a dominant force in the tech world.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
×