Alibaba Group, the world’s biggest e-commerce
company, increased a share buyback to $25
billion from $15 billion to prop up a stock price
that has fallen by more than half since the ruling
Communist Party tightened control over tech
industries by launching regulatory crackdowns.
The increase is a “sign of confidence in the
company’s continued growth,” Alibaba said. The
company said it has paid out $9.2 billion so far in
the buyback announced earlier.
Alibaba’s U.S.-traded shares have fallen 56%,
wiping out hundreds of billions of dollars
of stock market value, since the ruling party
launched anti-monopoly and data-security
crackdowns in 2019. Alibaba has been fined and
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