China’s Alibaba says annual revenue up 6% year-on-year

Internet giant Alibaba posted on Thursday a 6% increase in annual revenue, the latest positive sign for China’s tech sector despite persisting economic uncertainties.

The Hangzhou-based company is one of the biggest players in China’s tech industry, with operations spanning retail, digital payment, artificial intelligence and entertainment.

This year has seen its share price rollercoaster on a wave of investor enthusiasm about Chinese AI capabilities that began in January, followed by a steep drop last month triggered by US President Donald Trump’s…