12/24/2020, 2:35 AM (Source: TeleTrader)
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China starts anti-monopoly probe into Alibaba

China's State Administration for Market Regulation (SAMR) announced it had launched a new investigation into Alibaba Group Holding Limited and its affiliate Ant Group over their alleged monopolistic policies.

The SAMR is expected to summon the companies' representatives for hearings in the coming days.

Earlier this month, the agency fined Alibaba 500,000 yuan, or $76,464.29, for not disclosing the details of their past business deals properly.

Breaking the News / JR