The Chinese government has announced that Alibaba Group, the largest online shopping company in China, is investigating on suspicion of using its monopoly position, such as asking its business partners not to open stores on other mail-order sites.
Xi Jinping leadership, have moved to strengthen regulations to the giant IT companies to increase the influence, it has intensified the pressure on the inter alia Alibaba.
On the 24th, China's Directorate General of National Market Supervision and Administration investigated on suspicion that Alibaba Group, the largest online shopping company, used an exclusive position, such as asking companies that open online shopping not to open stores on other online shopping sites. I announced that I am doing it.
In addition, four financial management authorities announced on the 24th that they will soon jointly provide guidance to "Ant Group," which operates cashless payment services under the umbrella of Alibaba.
In response, Alibaba Group announced a comment saying, "We will actively cooperate with the investigation of the management and supervision department."
Xi Jinping leadership is also an important meeting to decide the next year of economic management policy that opened last week, and shows the policy to strengthen the regulation of the giant IT companies to increase the influence, regarded as part of this survey and guidance also this policy Can be done.
In December, Alibaba was fined for violating the Antimonopoly Act by a group investment company, and in November, the new listing of Ant Group, which was expected to be the largest ever, was under the guidance of the authorities. The listing has been postponed just before.
The postponement of the listing is believed to have been triggered by Alibaba founder Jack Ma's criticism of the financial authorities, which are increasing pressure on Alibaba.
Alibaba Group plunges in Hong Kong stock market
After the Chinese government announced that it was investigating Alibaba Group on suspicion of using its monopoly position, the stock market in Hong Kong on the 24th was flooded with sell orders for Alibaba Group shares immediately after the start of the transaction. However, the stock price temporarily plummeted by more than 8% compared to the closing price on the 23rd.