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Wednesday, December 30, 2020

Tech Company Alibaba Investigated For Monopolistic Practises

 Chinese tech giant Alibaba is being investigated by regulators over monopolistic practices. China's State Administration for Market Regulation (SAMR) made the announcement on Thursday.

Regulators have previously warned Alibaba about forcing merchants to sign exclusive deals which prevent them from offering products on rival platforms.

Financial regulators will also meet with Alibaba's financial technology offshoot Ant Group in the coming days.

The investigation into monopolistic behaviour centres on the so-called "choosing one from two" practice.

This requires merchants (sellers) to sign exclusive co-operation pacts, preventing them from offering products on rival platforms

China's tech giants such as Alibaba and Tencent are facing increased scrutiny by the Chinese government, which is concerned about their growing size and power.

Regulators are worried about the millions of users they have amassed and the influence they have over daily life in China, including shopping and payments.

Alibaba, founded by the flamboyant Jack Ma, has already felt the wrath of regulators from a coordinated crackdown.

Last month, the Ant Group, which was previously called Alipay, was forced to halt its stock market listing, which would have been the world's biggest launch.

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John Amadi

He wants to be richest man , that is he is monopolising his platform

Obinna Christopher Nwabuikwu

I go swear for am
1

Endy Edeson

John; you are right. Jack Ma really wants to climp to the level of Elon Musk , Bill Gates and Mark Zuckerberg

Endy Edeson

Obinna Christopher Nwabuikwu Are you a merchant on his platform ?

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