Alibaba signs cooperation agreement with authorities in China’s Hangzhou: Media

SHANGHAI: Chinese e-commerce giant Alibaba Group Holding Ltd has signed a cooperation agreement with the government of Hangzhou, the city where the company is headquartered, local media reported on Tuesday.

China’s internet giants have been in the crosshairs of Chinese regulators for the past two years, but authorities have in recent months given increasing signs that relations between the government and China’s tech sector will thaw, which would bode well for the sector’s prospects.