Alibaba's Latest Offering Amid China's Renewed Tech Crackdown

Alibaba Group Holding Ltd BABA launched a new Alibaba.com Dropshipping Solutions alongside new platform tools and a grants program totaling $500,000 in awards.
It aims to support existing e-commerce businesses and the rise of "New Digital Entrepreneurs" by the initiative.
These "New Digital Entrepreneurs" are building digital businesses enabled by new online infrastructure to operate their B2C e-commerce stores on platforms like Shopify Inc SHOP or as third-party sellers on retail e-commerce sites like Amazon.com Inc AMZN.
Over the last year, transactions involving U.S. businesses on Alibaba.com were up by over 150%.
Alibaba recently pledged a whopping $15.5 billion for small-and medium-sized enterprises and improving insurance protection for gig economy workers amid the growing domestic tech crackdown.
Price Action: BABA shares traded lower by 1.94% at $167.40 on the last check Thursday.