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September 19, 2014

Alibaba symbol of China's new tech giants

  • Companies in energy, aviation, biotechnology and other fields are starting to invest abroad as they acquire technology, research skills and access to markets.
    • By JOE McDONALD
    AP Business Writer

    BEIJING — Alibaba Group's U.S. stock offering is a wakeup call about an emerging wave of technology giants in China's state-dominated economy.

    Until now, Chinese companies that made a splash in global stock markets were state-owned banks and oil companies. But they are big by decree, not because they sell products customers want.


     
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