Chinese regulators on Thursday launched an anti-monopoly investigation of e-commerce giant Alibaba Group, stepping up official efforts to tighten control over China’s fast-growing tech industries. The State Administration for Market Regulation (SAMR) said it was looking into Alibaba’s policy of “choose one of two,” which requires business partners to avoid dealing with competitors. The one-sentence statement gave no details of possible penalties or a timeline to announce a result.
According to the Associated Press, Chinese leaders had said earlier that an economic priority in the coming year will be to step up anti-monopoly enforcement. They appear to be especially concerned about tightening control over Alibaba and other dominant internet companies that are expanding into finance, health care and other businesses. According to media reports, shares in Alibaba fell 6% in early Hong Kong trade.
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