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The watchdog will examine the company's policies for compliance with antitrust laws.
"Based on reports, the State Administration for Market Regulation has opened an investigation into Alibaba Group for suspected conduct aimed at creating a monopoly," South China Morning Post reported the regulator as saying. It said it wanted to examine the "forced exclusivity" policy.
The Associated Press specifies that the policy forces the company's business partners not to work with its competitors
At the same time, the People's Bank of China announced that representatives of financial regulators will meet with representatives of Ant Group, Alibaba's fintech division.
Ant Group had planned an IPO in November but postponed it indefinitely a few days before the float. Before that, regulators met with Ant Group's key shareholder Jack Ma. The Wall Street Journal's sources claimed that the decision to postpone the event was made by Chinese President Xi Jinping.
source: wsj.com
"Based on reports, the State Administration for Market Regulation has opened an investigation into Alibaba Group for suspected conduct aimed at creating a monopoly," South China Morning Post reported the regulator as saying. It said it wanted to examine the "forced exclusivity" policy.
The Associated Press specifies that the policy forces the company's business partners not to work with its competitors
At the same time, the People's Bank of China announced that representatives of financial regulators will meet with representatives of Ant Group, Alibaba's fintech division.
Ant Group had planned an IPO in November but postponed it indefinitely a few days before the float. Before that, regulators met with Ant Group's key shareholder Jack Ma. The Wall Street Journal's sources claimed that the decision to postpone the event was made by Chinese President Xi Jinping.
source: wsj.com
