Alibaba Profit Up

Despite China aiming to rein in domestic Internet giants, Alibaba is still the best-paying tech company in the country at an average monthly salary of $5,000, followed by ByteDance and Tencent Holdings that offer average monthly wages of $4,900 and $4,600, respectively.

The company, a dominant player in China's cloud market, is fending off challenge from domestic rival Tencent 0700.HK which is also trying to capture cloud business opportunities

Asian businesses now have access to large, new capital

Alibaba saw its shares nearly double last year on the back of strong sales and is currently valued at $523 billion

Alibaba said revenue growth in quarter was fuelled in large part by technological innovations including the app