Chinese government investigates tech Alibaba for monopoly practices
The trading giant is committed to actively collaborating with the regulators' investigation
Alibaba, symbol of China’s success in the digital economy, faces investigations carried out by the Chinese government, which is due to the fact that according to Asian authorities, the digital commerce giant has failed to carry out suspicious monopoly practices.
According to the announcement of the investigation by the State Administration for Market Regulation of the company founded by the charismatic Jack Ma, the action occurred after a sharp fall in the technology company who has lost more than 8% in the middle of the session on the Stock Market From Hong Kong.
Analyst Dong Ximiao, from the Zhongguancun Institute of Internet Finance, reported that this scenario demonstrates “an escalation of coordinated efforts aimed at hampering Jack Ma’s empire, symbolizing the new Chinese entities too big to fail.”
They are ready to cooperate
Although no further details are known, the digital commerce company has expressed its greater willingness to actively collaborate in investigations with regulators.
In addition to the parent investigation, regulators also announced that they have contacted Ant Group, the global leader in online payments and a subsidiary of Alibaba, to discuss “oversight,” a few weeks after Beijing thwarted at the last minute. its IPO.
K.Villarroel
Source: bancaynegocios
