China's antitrust watchdog brings Jack Ma's Alibaba, Ant Group under radar
Image Credit: Shortpedia
The State Administration for Market Regulation, China's antitrust watchdog is probing Jack Ma's Alibaba Group Holding Ltd in connection with alleged monopolistic practices. Alibaba's affiliate Ant Group Corporation has also been summoned by the watchdog to a high-level meeting over financial regulations. Alibaba and rivals like Tencent Holdings Ltd are struggling under continuous pressure from regulators.