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Associated Press
FILE - In this March 17, 2014 file photo, people walk past a company logo at the Alibaba Group headquarters in Hangzhou, in eastern China's Zhejiang province. Alibaba Group’s U.S. stock offering is a wakeup call about an emerging wave of technology giants in China’s state-dominated economy. Until now, Chinese companies that made a splash in global stock markets were state-owned banks and oil companies. But they are big by decree, not because they sell products customers want. By contrast, private sector tech champions such as Lenovo Group in personal computers and search engine Baidu Inc. survived bruising competition to rise to the top of their industries. (AP Photo/File)  CHINA OUT

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