China's Alibaba Cloud rolls out price cuts of up to 55% on cloud products

China's Alibaba Cloud said on Thursday it will cut prices on its cloud service products by an average of 20% in its second large-scale price adjustment programme in recent years.

The cloud arm of Chinese e-commerce giant Alibaba said that the price discount on more than 100 core cloud products will go up to 55%, and that they will be rolled out with immediate effect.