Ant extends cooperation with Hangzhou

Alibaba (9988) affiliate Ant Group has signed another strategic collaboration agreement with the Hangzhou government yesterday to accelerate the city's development of its digital economy, official mainland media reported.

Earlier in 2020, the fintech giant established a strategic collaboration with the government of Hangzhou and moved its global headquarters to the city, where Alibaba also bases itself.

Meanwhile, Alibaba announced that its 2022 financial statement has received approval from the US Securities and Exchange Commission.

The company said, after several exchanges, the SEC completed its review of the company's 2022 financial report for the year ended March, on April 12.

Previously, the SEC had requested that Alibaba disclose information regarding a holding company based in the Cayman Islands and a variable interest entity based in China, citing concerns that these entities could pose unique risks to investors.