Inside China Tech: Big week for Alibaba, Kuaishou’s trading debut pops and the firm powering social-media hit Clubhouse

Paraphrasing a famous quote from Abraham Lincoln, market sentiment is everything. And in the case of e-commerce giant Alibaba Group Holding, positive market sentiment is giving it a much-needed boost.

Alibaba, the parent company of the South China Morning Post, is riding on that improved view of the firm amid preparation for a US$5 bond sale – its first foray into the international debt markets since 2017 – that has already received strong investment grade ratings.

The offering comes after the Hangzhou-based company reported a 37 per cent surge in revenue to US$33.9 billion in its financial third quarter ended December, bolstered by its extended Singles’ Day campaign last year when it posted a record US$74.1 billion in sales.

The prospects for the bond sale also received a lift from news that China’s financial regulators and Alibaba affiliate Ant Group have agreed on a plan to overhaul the world’s largest financial technology company, months after the Alipay operator’s US$34.5 billion dual listing in Shanghai and Hong Kong was abruptly shelved by authorities.