Read Why China's Regulators Summoned Alibaba, Baidu
Read Why China's Regulators Summoned Alibaba, Baidu $Alibaba(BABA.US$ and $Baidu(BIDU.US$ for better telecom fraud prevention policies, Reuters reports.
The Ministry of Industry and Information Technology stated via $Weibo(WB.US$ that Alibaba and Baidu's cloud platforms allow access to fraudulent websites.
China was building its state-backed cloud system as it announced a crackdown on telecom and internet fraud.
Alibaba has suffered a colossal dent in its market cap following a countrywide regulatory crackdown.
Alibaba and Baidu need to "earnestly fulfill their main responsibilities for network and information security," the industry ministry statement said.
The Ministry of Industry and Information Technology stated via $Weibo(WB.US$ that Alibaba and Baidu's cloud platforms allow access to fraudulent websites.
China was building its state-backed cloud system as it announced a crackdown on telecom and internet fraud.
Alibaba has suffered a colossal dent in its market cap following a countrywide regulatory crackdown.
Alibaba and Baidu need to "earnestly fulfill their main responsibilities for network and information security," the industry ministry statement said.
Analyst Rating: Needham analyst Vincent Yu maintained Alibaba with a Buy and lowered the price target from $330 to $230, implying a 70.1% upside.
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news porter, welcome and respect all view~
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momomoomoo : this analyst switch his target from 330 to 230 and maintain buy, such a big difference, wonder how he do his analysis...
FiveHundredCents OP momomoomoo :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
I am also curious