Alibaba Group CEO says China's draft anti-monopoly rules are "timely and necessary"

Alibaba Group CEO says China's draft anti-monopoly rules are "timely and necessary"

Chinese e-commerce group Alibaba Chief Operating Officer Daniel Zhang. REUTERS/Stringer

China’s move to draft rules aimed at preventing monopolistic behaviour by internet platforms is “timely and necessary”, Alibaba Group CEO Daniel Zhang said on Monday.

Speaking at the World Internet Conference, Zhang said Chinese internet companies have moved to the forefront of the global industry with the help of government policies, but regulations need to evolve.

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