Xiami’s closure also comes after Chinese regulators announced that they had launched an antitrust investigation into Alibaba, which beyond its core e-commerce business also operates in sectors such as financial services, cloud computing and artificial intelligence. — Reuters
BEIJING/SHANGHAI: Alibaba Group will close its music streaming platform Xiami Music next month, in a move that marks a step back from its ambitions to push into China’s entertainment industry.
“Due to operational adjustments, we will stop the service of Xiami Music,” the online music arm of the Chinese e-commerce giant said on Tuesday on its Weibo account, adding that the closure will occur on Feb 5.
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