China’s prime market watchdog has begun a probe into Alibaba over alleged anti-competition practices on the e-commerce agency, the most recent of Beijing’s efforts to curb the nation’s ever-expanding web titans.
The State Administration for Market Regulation stated Thursday in a quick statement that it’s investigating Alibaba over its “selecting one from two” coverage, by which retailers are pressured to promote solely on Alibaba and skip rivaling platforms JD.com and Pinduoduo.
Alibaba can’t be instantly reached for remark.
On the identical day, state-backed Xinhua reported that Ant Group, Alibaba’s affiliate, has been summoned by a gaggle of finance authorities to debate its “compliance” work. Ant, which works as an middleman for monetary providers and clients, has pledged to take measures to curb debt dangers after Chinese language authorities abruptly called off its colossal preliminary public providing final month.
“Right this moment, Ant Group acquired a gathering discover from regulators. We are going to significantly research and strictly adjust to all regulatory necessities and commit full efforts to meet all associated work,” the agency said in an announcement.
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