Alibaba (BABA) shares slipped on Friday even as the Cyberspace Administration of China, the country's internet regulator, said several Chinese tech companies had submitted details of their algorithms for some products, Reuters reported.
The CAC published a list of 30 algorithms, including one from Alibaba's (BABA) Taobao, Tencent's (OTCPK:TCEHY) WeChat and several others, including those from ByteDance and Meituan, providing a brief description of how they are used.
This is the first list since China passed regulations for app recommendation services in March.
The news outlet added the rules are part of a larger suppression by the Chinese government against its tech companies, though that has been eased in recent months.
On Thursday, Bank of America said the logistics unit of Alibaba (NYSE:BABA), Cainiao, is continuing to invest in technology and expand its services and cross-border network.