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Alibaba's Latest Offering Amid China's Renewed Tech Crackdown

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  • Alibaba Group Holding Ltd (NYSE: BABA) launched a new Alibaba.com Dropshipping Solutions alongside new platform tools and a grants program totaling $500,000 in awards.

  • It aims to support existing e-commerce businesses and the rise of "New Digital Entrepreneurs" by the initiative.

  • These "New Digital Entrepreneurs" are building digital businesses enabled by new online infrastructure to operate their B2C e-commerce stores on platforms like Shopify Inc (NYSE: SHOP) or as third-party sellers on retail e-commerce sites like Amazon.com Inc (NASDAQ: AMZN).

  • Over the last year, transactions involving U.S. businesses on Alibaba.com were up by over 150%.

  • Alibaba recently pledged a whopping $15.5 billion for small-and medium-sized enterprises and improving insurance protection for gig economy workers amid the growing domestic tech crackdown.

  • Price Action: BABA shares traded lower by 1.94% at $167.40 on the last check Thursday.

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