"Chinese regulators have launched an anti-monopoly investigation into Alibaba and called in for talks its online finance spinoff, Ant Group – increasing pressure on the e-commerce company founded by the Chinese tech entrepreneur Jack Ma.
On Thursday the state market supervision administration said it had filed an investigation into Alibaba Group Holdings Ltd over “suspected monopolistic practices”.
The People’s Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and State Administration of Foreign Exchange said they would also meet Ant Group for “supervisory and guidance” talks. Ant Group is the developer of AliPay, a mobile payment system now ubiquitous and largely essential in China’s economy."
On Thursday the state market supervision administration said it had filed an investigation into Alibaba Group Holdings Ltd over “suspected monopolistic practices”.
The People’s Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and State Administration of Foreign Exchange said they would also meet Ant Group for “supervisory and guidance” talks. Ant Group is the developer of AliPay, a mobile payment system now ubiquitous and largely essential in China’s economy."