Alibaba Tops Chinese Tech Stocks This Quarter on AI Resurgence

In China on 20 August 2026, Alibaba reported quarterly results. Bloomberg wrote that its revenue climbed 9%, its best growth in years, while Reuters and the Associated Press wrote that its quarterly profit fell 75% as AI infrastructure spending grew. Handelsblatt wrote that the share price fell. Bloomberg also wrote that Alibaba tops Chinese tech stocks this quarter.

Other Chinese economy news included humanoid robot shipments topping 40,000 units in the first half, according to Global Times, and Bloomberg’s report that luxury sales plunged in China as a tax push hit wealthy shoppers. Chinese refiners snapped up Iraqi oil, and China put robocops on traffic duty without arrest powers.