The logo of Alibaba Group is seen during the 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, China on November 10, 2019. Photo: Reuters
The logo of Alibaba Group is seen during the 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, China on November 10, 2019. Photo: Reuters
Alibaba

Alibaba antitrust probe: not a sign winter is coming but a new start for tech industry, Chinese official media says

  • Beijing’s investigation into Alibaba’s alleged monopolistic practices is a necessary technical step for the industry’s development, state media outlets say
  • E-commerce giant’s US shares tumble 13 per cent in biggest one-day drop ever after China announces probe

The logo of Alibaba Group is seen during the 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, China on November 10, 2019. Photo: Reuters
The logo of Alibaba Group is seen during the 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, China on November 10, 2019. Photo: Reuters
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