Monday, April 19, 2021
NEWS ZHIT
  • Home
  • World
  • Business
  • Politics
  • Health
  • Finance
  • Economics
  • Sports
  • Science & Technology
  • Entertainment
  • Fashion
  • Travel
No Result
View All Result
  • Home
  • World
  • Business
  • Politics
  • Health
  • Finance
  • Economics
  • Sports
  • Science & Technology
  • Entertainment
  • Fashion
  • Travel
No Result
View All Result
News Zhit
No Result
View All Result
Home Finance

China’s e-commerce titan Alibaba hit with antitrust probe – TechCrunch

newsz by newsz
December 24, 2020
in Finance
0
China’s e-commerce titan Alibaba hit with antitrust probe – TechCrunch
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


China’s high market watchdog has begun a probe into Alibaba over alleged anti-competition practices on the e-commerce agency, the newest of Beijing’s efforts to curb the country’s ever-expanding internet titans.

The State Administration for Market Regulation stated Thursday in a quick statement that it’s investigating Alibaba over its “selecting one from two” coverage, during which retailers are pressured to promote solely on Alibaba and skip rivaling platforms JD.com and Pinduoduo.

“At present, Alibaba Group has acquired notification from the State Administration for Market Regulation that an investigation has been initiated into the Firm pursuant to the Anti-Monopoly Regulation. Alibaba will actively cooperate with the regulators on the investigation,” Alibaba stated in a press release.

“Firm enterprise operations stay regular.”

Alibaba’s shares tumbled greater than 8% on the Hong Kong Inventory Change on Thursday.

On the identical day, state-backed Xinhua reported that Ant Group, Alibaba’s affiliate, has been summoned by a gaggle of finance authorities to debate its “compliance” work. Ant, which operates the favored Alipay e-wallet and works as an middleman for monetary companies and prospects, has pledged to take measures to curb debt dangers after Chinese language authorities abruptly called off its colossal preliminary public providing final month.

“At present, Ant Group acquired a gathering discover from regulators. We’ll critically research and strictly adjust to all regulatory necessities and commit full efforts to meet all associated work,” the agency said in a press release.

Some argue that the clampdown is a very long time coming for China’s web giants, which have been allowed to develop beneath a comparatively unfastened regulatory surroundings. The Alibaba case is a “important step” in China’s anti-monopolistic rules on the web trade, stated an opinion piece printed within the official newspaper of China’s ruling Communist Get together. Assuaging worries that stricter rules might deal a blow to the trade, the piece stated the probe into Alibaba “is useful to restoring orders and selling long-term, wholesome growth of the platform economic system.”



Source link

Tags: AlibabaantitrustChinasecommercehitprobeTechCrunchtitan
newsz

newsz

Related Posts

Employers fail without financial wellness benefits
Finance

Employers fail without financial wellness benefits

March 3, 2021
Senate Finance Committee split on HHS nominee Becerra in tie vote
Finance

Senate Finance Committee split on HHS nominee Becerra in tie vote

March 3, 2021
German financial watchdog BaFin imposes a moratorium on Greensill Bank – Yahoo Finance
Finance

German financial watchdog BaFin imposes a moratorium on Greensill Bank – Yahoo Finance

March 3, 2021
Next Post
Zappos Adaptive to expand single and different size shoe program

Gucci teams with The North Face for new collaboration

Mahesh Babu reveals motion poster of ‘Thank You Brother!’

Mahesh Babu reveals motion poster of 'Thank You Brother!'

Vodafone group: India challenges Vodafone arbitration ruling in Singapore – source

Vodafone group: India challenges Vodafone arbitration ruling in Singapore - source

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

‘Tis The Season To Pay It Forward | News, Sports, Jobs

Report Notes Difficulties Facing The Health Dept. | News, Sports, Jobs

3 months ago
John Cox Named Chief Growth Officer at SprintRay

John Cox Named Chief Growth Officer at SprintRay

1 month ago
Chocolatiers, florists see business boom during pandemic

Chocolatiers, florists see business boom during pandemic

2 months ago
Mexico politician arrested for ‘complicity’ in journalist murder | Freedom of the Press News

Mexico politician arrested for ‘complicity’ in journalist murder | Freedom of the Press News

4 months ago

Categories

  • Business
  • Economics
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Politics
  • Science & Technology
  • Sports
  • Travel
  • World

Topics

announces BBC Biden business businesses City Coronavirus County COVID COVID19 economic Entertainment Fashion finance financial Global health high Jobs latest LIVE Local Million National News pandemic Political Politics recovery Report school Science small Sports state Stories technology Top Travel Trump UPDATES vaccine Week world Year
No Result
View All Result

Highlights

Resolution to close Playa del Rey gas facility advanced by LA City Council committee – Daily News

John Cox Named Chief Growth Officer at SprintRay

Changes To March-In Rights Under Bayh-Dole And More? | Goodwin

New Science Indicates Mars’ Water Didn’t Escape to Space – It’s Trapped in the Red Planet’s Crust

CO2 electrotransformation into value-added chemicals in ionic liquid-based electrolytes

A Harvard Astronomer Said It’s Alien Technology – Now Scientists Think They Found the True Origin of Strange Interstellar Object

Trending

Glass crystallization making red phosphor for high-power warm white lighting
Science & Technology

Glass crystallization making red phosphor for high-power warm white lighting

by newsz
March 18, 2021
0

IMAGE: (a), MgO-Al2O3-SiO2 ternary glass section diagram, exhibiting the glass chemical composition situates at cordierite (chemical components...

Cummings says Covid response held back by EU and ‘smoking ruin’ department

Cummings says Covid response held back by EU and ‘smoking ruin’ department

March 18, 2021
Resolution to close Playa del Rey gas facility advanced by LA City Council committee – Daily News

Resolution to close Playa del Rey gas facility advanced by LA City Council committee – Press Telegram

March 18, 2021
Resolution to close Playa del Rey gas facility advanced by LA City Council committee – Daily News

Resolution to close Playa del Rey gas facility advanced by LA City Council committee – Daily News

March 18, 2021
John Cox Named Chief Growth Officer at SprintRay

John Cox Named Chief Growth Officer at SprintRay

March 18, 2021

Recent News

Glass crystallization making red phosphor for high-power warm white lighting

Glass crystallization making red phosphor for high-power warm white lighting

March 18, 2021
Cummings says Covid response held back by EU and ‘smoking ruin’ department

Cummings says Covid response held back by EU and ‘smoking ruin’ department

March 18, 2021
Resolution to close Playa del Rey gas facility advanced by LA City Council committee – Daily News

Resolution to close Playa del Rey gas facility advanced by LA City Council committee – Press Telegram

March 18, 2021

Category

  • Business
  • Economics
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Politics
  • Science & Technology
  • Sports
  • Travel
  • World

Follow Us

Contact Us

  • About Us
  • Contact Us
  • Privacy & Policy
  • Cookie Policy
  • Amazon Disclosure

© 2020 News Zhit

No Result
View All Result
  • Home
  • World
  • Business
  • Politics
  • Health
  • Finance
  • Economics
  • Sports
  • Science & Technology
  • Entertainment
  • Fashion
  • Travel

© 2020 News Zhit