Alibaba's revamp plan lifts hopes China's regulatory winter is thawing

Alibaba's revamp plan lifts hopes China's regulatory winter is thawing

FILE PHOTO: A man walks past a logo of Alibaba Group at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang

Alibaba Group’s plans for a major revamp have been taken as a signal that Beijing’s regulatory crackdown on corporates is ending, propelling its shares higher and boosting investor confidence in prospects for Chinese tech firms.