Ant Financial chairwoman apologizes for controversies of new featureLucy Peng Lei, chairwoman of Ant Financial Services Group, the financial affiliate of Alibaba Group Holding Ltd, apologized on Monday after a new product called "Circles" sparked controversy among Chinese netizens. Last Thursday the Chinese tech giant updated its Alipay app with a new social feature dubbed "Circles", which allowed users to share messages and photos. Alipay needs to see transformation, Peng said frankly in the letter, but she still believes Circles is a good product. In her letter, Peng appreciated those who helped analyze and gave rational ideas, and also thanked the thousands of netizens who spoke out. "The most precious thing for Alibaba is the courage to correct mistakes," founder and executive chairman of Alibaba Group Jack Ma said on the company's intranet.

Source: The China Post November 30, 2016 18:04 UTC