China’s Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus in the face of slowing growth.
The change comes as Alibaba invests in new business lines such as cloud computing as a boom in its core e-commerce has peaked and revenue growth slows.Reuters reported last month that the firm is considering raising as much as $20 billion through a listing in Hong Kong to boost funds available for investment.
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