Chinese authorities start investigating IT giant Alibaba on suspicion of monopoly



China's Directorate General of Market Supervision has revealed that it has entered into an investigation into a major

e-commerce company, Alibaba Group, on suspicion of monopoly behavior. Around Alibaba, its financial company, Ant Group, was planning an initial public offering (IPO), which was expected to be the 'largest in the world,' but its founder, Jack Ma. There was an 'incident' in which the IPO cancellation was announced shortly after Mr.) made critical statements and actions against the Chinese financial authorities.

Market Bureau Survey Bureau Opposite Alibaba Collection 团 涉 垄 垄 螄
http://www.samr.gov.cn/xw/zj/202012/t20201224_324638.html



The announcement by the Directorate General of Market Supervision, announced at 8:30 local time on December 24, was only one line. The content of 'to carry out.' 'Two choices' means 'two choices', which means that the store owner / seller was forced to choose between the platforms and signed an exclusive cooperation contract.

Ali's disgusting 'two choices', a monopoly, a finger? | Early report

https://www.zaobao.com.sg/realtime/china/story20201224-1111278

The Hong Kong stock market, which opened after this announcement, closed closed, and Alibaba shares temporarily fell 8.9% . Ali Baba and that it has received a notification of the start of the survey from the authorities in the SNS · Weibo, it is a policy to cooperate with the investigation, also business to make as usual expressed was.



Alibaba planned an IPO for its financial firm Ant Group in November 2020. It was expected to be the largest IPO in history at about $ 35 billion , but the IPO was abruptly canceled three days before it took place. There is a view that the IPO cancellation was triggered by Mr. Ma's critical speech to the financial authorities shortly before, but on the other hand, the government risks increasing the influence of Alibaba Group on finance. There is also a view that there was tightening even if there was no speech.

This survey on Alibaba is based on the 'Antitrust Regulations' announced in November 2020. The People's Daily stimulates market vitality by increasing overall international competitiveness through fair and orderly competition and strengthening supervision to ban monopolies, and the continued emergence and vigorous growth of platform companies. It states that it will create the soil for it.

People's Daily: Actually, the platform economy, the revitalization, the vitality, the high quality, the development of the people
http://capital.people.com.cn/n1/2020/1225/c405954-31979109.html

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