The Chinese company Alibaba is going to take part in the building of the economic area called Xiongan New Area, which is situated hundred kilometers from Beijing. According to the authorities, this will be a private ecological city, the goal of which is to relieve the metropolitan area. Alibaba, in its turn, will introduce artificial intelligence mechanisms into the new city. It is planned to build in the city a new transport infrastructure with smart public transport and car drones. Starting dates of the building of the city are not reported.
Over the last week, Alibaba shares have increased by 0.9% and will continue to grow on today's news. Trading will be available during the American trading session, from 14:40 to 21:00 GMT.
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