China: China launches antimonopoly probe against Alibaba

Chinese authorities have launched an antimonopoly investigation against e-commerce company Alibaba Group Holding and have summoned executives at its Ant Group financial affiliate in a sign that Beijing is heightening its crackdown on the power of the country’s tech giants.

The State Administration for Market Regulation said it is investigating alleged Alibaba practices, such as requiring vendors to exclusively list their products on its platforms, in response to complaints.

Alibaba was sued by smaller rival JD.com in 2017 over such practices, which Alibaba denied. No judgment has been reached in the case. Earlier this month, though, the market regulator fined Alibaba and Tencent Holdings 500,000 yuan each for failing to seek regulatory approval for past acquisitions.

The full original article can be found at asia.nikkei.com

(Picture: EPA-EFE)

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