Question: Why has Alibaba chosen the variable interest entity (VIE) structure under which it operates? Given that the group is not the legal owner of the

Why has Alibaba chosen the variable interest entity (VIE) structure under which it operates? Given that the group is not the legal owner of the VIEs, which criteria does it use to argue that it in fact controls these entities? What are the potential risks and benefits of investing in companies with VIE structures?

Thanks in advance for the help!

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