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Motley FoolChina is Breaking Up Alipay: It’s Time to Sell Alibaba! Alibaba was the first target of the crackdown on Chinese tech giants. In response to inflammatory comments made by Jack Ma, regulators canceled Alipay’s IPO. Nearly one year later Beijing has a new plan to save Alipay. It will result in a breakup, the government being an investor, and the transfer of proprietary data.