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Bulletins

Alibaba says, yes, coronavirus is hurting the Chinese economy.

The e-commerce giant is the first major Chinese tech company to post financial results since the epidemic emerged, and it warned of a "significantly" negative impact on its growth.


The company's results for the final three months of 2019 were strong, Bloomberg reports. But CFO Maggie Wu explained that the epidemic "has negatively impacted the overall China economy," adding that "the means of production in the economy has been hampered by the delayed opening of offices, factories and schools." The situation, she said, "will present near-term challenges to Alibaba's businesses across the board."

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