After the rampant speculation over Alibaba (NYSE: BABA) co-founder Jack Ma's whereabouts (and recent reports that he's just lying low), the company's announcement that it is scotching a well-established business unit is getting little attention. Alibaba said Tuesday that it is shuttering its Xiami Music service effective Feb. 5. It said that it's doing so "because of adjustments in business development." It wasn't immediately clear what exactly that meant. Xiami Music is a veteran of the streaming scene in China. It was founded in 2006, went live in 2008, and was bought by Alibaba in 2013. The company bundled it along with a peer service, Ali Planet, inside its Ali Music business unit. It discontinued Ali Planet in 2016. Image source: Alibaba. Such services have stirred controversy in China over allegations of copyright infringement. The country's government started to crack down on music pirating in 2015. Competition in the streaming space began to intensify in 2016 with the entry of Chinese tech conglomerate Tencent Holdings. According to a report from CNN, Tencent's streaming platforms now boast 430 million monthly active users, dwarfing Xiami Music's less than 7 million. Alibaba has deeper problems than an undersubscribed music streaming service. Jack Ma has drawn the ire of Chinese government officials for his criticism of the country's oversight of the finance industry. Some observers say his critique was a key factor in the cancellation of Alibaba unit Ant Financial's IPO. Meanwhile, Alibaba as a company is currently the subject of an antitrust investigation launched by The State Administration for Market Regulation over alleged monopolistic practices. 10 stocks we like better than Alibaba Group Holding Ltd.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Alibaba Group Holding Ltd. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alibaba Group Holding Ltd. and Tencent Holdings. The Motley Fool has a disclosure policy.Source