China's Attack On Big Tech: Why Xi Jinping's Government Is Targeting Ant, Alibaba, Tencent & Others

In a significant development, China's top market watchdog on Thursday (24 December) started investigation into alleged anti-competition practices by e-commerce giant Alibaba, as Beijing tightened control of an expanding Internet.

In a brief note, the State Administration for Market Regulation said that it is investigating Alibaba over its "choosing one from two" policy.

As part of this policy, merchants are forced to sell exclusively on Alibaba e-commerce platforms and skip rivals like JD.com.

"The State Administration of Market Supervision, based on reports, filed investigations into Alibaba Group Holdings Co., Ltd. for suspected monopolistic conduct such as 'choose one out of two,'" the statement read.

Alibaba Group said in a statement that they have received notification from the State Administration for Market Regulation.

"Alibaba will actively cooperate with the regulators on the investigation," the company said, adding that its "business operations remain normal."

Xinhua news agency said on Thursday that The People's Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, and State Administration of Foreign Exchange will "interview Ant Group in the near future".

Ant Group formerly known as Ant Financial and Alipay, is an affiliate company of the Alibaba Group.

#China #JackMa #Alibaba #AntGroup #Tencent #XiJinping

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