India previously rumored that India on Ali and other Chinese companies to take antitrust measures, causing a high degree of concern, and according to the latest news, Alibaba will also adjust its strategy, ready to stop part of the business in India, which may become the first step of Ali's counter-attack, please take a look at the detailed report with Xiaobian.
Alibaba said on the conference call that its main business in the U.S. is to help U.S. brands, small and medium-sized businesses and others sell their products to major global markets. We are confident that international trade and cooperation will continue and that changes in U.S. government policy toward Chinese companies will be closely monitored, and we will track the impact these changes may have on Alibaba and take new compliance measures accordingly.
Separately, Alibaba said it will stop its UC network and other innovative businesses in India, but it won't affect the group as a whole.
Ali said that globalization is a long-term strategy for the company and that it will also make strategic adjustments accordingly to changes in the current environment.
It is worth mentioning that Alibaba Group announced its results for the first quarter of fiscal year 2021, which showed that the innovation program and other earnings were RMB 1,094 million ($155 million), down 6% from RMB 1,167 million in the same period in 2019.
