At a government-sponsored internet summit, Alibaba Group Holding Ltd. Chairman and CEO Daniel Zhang said the company will “actively learn from and respond to national policies and regulations.”
After the Chinese government’s smackdown of fintech giant Ant Group Co. Ltd. and its founder Jack Ma for challenging the country’s financial watchdogs, the billionaire’s e-commerce vehicle is taking a more conciliatory approach to market regulators.
“In the process of great development, new problems and challenges will arise, and policies and regulations that keep pace with the times are needed to manage them,” Zhang said. Recently published draft regulations governing the behavior of internet platforms are “timely and necessary,” he said.
Source: Caixinglobal.com
