BEIJING: The Alibaba Group, the world's biggest electronic commerce (e-commerce) company, increased a share buyback to $25 billion from $15 billion on Tuesday to prop up a stock price that has fallen by more than half since China's ruling Communist Party tightened control over tech industries by launching regulatory crackdowns.
The increase is a "sign of confidence in the company's continued growth," Alibaba said. It paid out $9.2 billion so far in the buyback announced earlier.
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