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[ad_1] Jing Yang / Wall Side road Magazine : Resources: Alibaba is delegating extra accountability to presidents of its industry gadgets to shed its monolithic symbol within the wake of China's regulatory crackdown — CEO Daniel Zhang is devolving energy to unit presidents as festival grows and massive platforms come underneath force in China [ad_2] #Resources #Alibaba #delegating #accountability #presidents #industry #gadgets #shed #monolithic #symbol #wake #Chinas #regulatory #crackdown #Jing #YangWall #Side road #Magazine https://mycyberbase.com/technology/resources-alibaba-is-delegating-extra-accountability-to-presidents-of-its-industry-gadgets-to-shed-its-monolithic-symbol-within-the-wake-of-chinas-regulatory-crackdown-jing-yang-wall-side-road-maga/?feed_id=23365&_unique_id=649d2f439e6cd #TECHNOLOGY

[ad_1] Eight months ago, the future of China’s largest internet companies looked grim. Covid-era lockdowns crushed sales, and Beijing’s harsh tech regulations had spooked even audacious China investors. Shares of Alibaba, Baidu and Tencent dropped to some of their lowest levels in several years. With China’s economy now reopen, the tech giants this week released earnings reports that showed initial signs of recovery. But the financial results, the first issued since the end of “zero Covid” restrictions, also reflected the uneven pace of China’s economic rebound and signaled that the companies’ makeovers, while underway, are likely to be rocky. Baidu, China’s leading internet search business, and Tencent, owner of the ubiquitous messaging app WeChat, both recorded double-digit revenue growth in the first three months of the year over the same period in 2022, marking the first time in over a year that they had reached that level. Revenue rose 10 percent at Baidu, which said on Tuesd...