Advertisement
China kicks off antitrust probes into Alibaba over alleged monopolistic practices, as regulators summon Ant to meet
- The State Administration for Market Regulation has officially started investigating Alibaba Group Holding over suspected monopolistic practices
- Regulators have also asked to meet Ant Group, the fintech affiliate of Alibaba
Reading Time:3 minutes
Why you can trust SCMP
26
China’s antitrust regulator has officially started investigations into Alibaba Group Holding over alleged monopolistic business practices including a requirement for e-commerce merchants to pick only one platform as their exclusive distribution channel.
Separately, China’s central bank said it would summon Ant Group’s executives for a meeting with the financial regulators covering banking and insurance, securities and foreign exchange, as it tightens regulations on the fintech industry.
The State Administration for Market Regulation, the antitrust watchdog agency, said in a statement that it recently commenced investigations into Alibaba for suspected monopolistic conduct such as “forced exclusivity”.
Advertisement
The term refers to a business practice in China’s internet industry where companies make merchants choose only one platform as their exclusive channel of sales and distribution.
01:26
China kicks off antitrust probes into Alibaba over alleged monopolistic practices
China kicks off antitrust probes into Alibaba over alleged monopolistic practices
“Alibaba will actively cooperate with the regulators on the investigation,” the company, which owns the South China Morning Post, said in a statement. “Company business operations remain normal.”
Advertisement
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x