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Jack Ma, founder of Alibaba Group, speaks during 2020 China Green Companies Summit on Sept. 29, 2020 in Haikou, Hainan Province of China.
The move, which takes effect in February, comes amid scrutiny of Alibaba founder Jack Ma by Chinese regulators.
Chinese e-commerce giant Alibaba Group will shut down its music streaming platform Xiami Music in February, in a step back from its ambitious plans to enter China s entertainment industry.
According to an official notice on social media on Tuesday, Xiami said it would shut down the service on Feb. 5 âdue to business development adjustments.â Artist albums will no longer be sold on the site after Jan. 5, the notice says.
Liu Yang/VCG via Getty Images
Jack Ma, founder of Alibaba Group, speaks during 2020 China Green Companies Summit on Sept. 29, 2020 in Haikou, Hainan Province of China.
The move, which takes effect in February, comes amid scrutiny of Alibaba founder Jack Ma by Chinese regulators.
Chinese e-commerce giant Alibaba Group will shut down its music streaming platform Xiami Music in February, in a step back from its ambitious plans to enter China s entertainment industry.
According to an official notice on social media on Tuesday, Xiami said it would shut down the service on Feb. 5 âdue to business development adjustments.â Artist albums will no longer be sold on the site after Jan. 5, the notice says.