Alibaba has been investigated. According to the bureau, based on the reported information, it is investigating Alibaba Group’s implementation of monopolistic activities such as “choose one out of two”.
Alibaba has been investigated . Alibaba Group immediately responded on its official Weibo and will actively cooperate with the investigation by the regulatory authorities. At present, the company’s business is normal.
On Thursday morning, the Hong Kong stock Alibaba stock price fell by nearly 9%. Earlier, Ant Group, another trillion-level enterprise created by Alibaba founder Jack Ma, also suffered repeated setbacks in front of China’s regulatory level, and had to cancel the plan to go public in Shanghai and Hong Kong at the same time.
Why was it investigated?
Alibaba has been investigated. The currently known information mainly comes from the state-run Xinhua News Agency report. It state that the reason for the investigation suspect monopolistic behavior such as “choosing one of two” by Alibaba Group.
The actual controller of Ant Group, Alibaba founder Jack Ma
The controversy of “choose one out of two” has a long history. After the “Double Eleven” online promotion in 2015, another Chinese e-commerce giant JD.com reported to the regulatory authorities that Alibaba’s Tmall mall required merchants to choose only between Tmall and rival JD.com. .
In 2019, JD.com sued Alibaba for abusing its dominant market position. Later, other e-commerce platforms such as Pinduoduo and Vipshop also joined the battle and applied to join the lawsuit as a third party.
It is worth noting that the important shareholder behind Jingdong and Vipshop is Tencent Group. Qihoo, therefore, sued Tencent for abusing its dominant market position. However, Qihoo lost the case in both trials.
However, this is not the first time Alibaba has been under antitrust investigation this year. On December 14, the State Administration for Market Regulation imposed a fine of RMB 500,000 on the case of Alibaba’s acquisition of Intime’s equity for failing to declare illegal implementation of the concentration of operators. Punishment.
Ants are interviewed again
To make matters worse, on the same day, the People’s Bank of China announced that the four major regulatory authorities will once again meet with another giant Ant Group in the Ali department.
The Ant Group immediately stated that it will study and strictly abide by the requirements of the supervisory department after receiving the interview notice from the supervisory department, and do a good job in the implementation of relevant work.
At the beginning of November, Ant Group was ready to go public. Preparing to list simultaneously in Shanghai and Hong Kong, which may become the largest IPO in global history. On November 2, the four major regulatory agencies collectively interviewed Ant Group executives including Jack Ma. ; On the 3rd, the Shanghai Stock Exchange announced its decision to suspend the listing of Ant Group.
In just a few days, Ant Group, China’s largest online financial company, experienced the pain of falling from a height.
Not only that, the Ant Group will also face the constraints of the latest regulatory requirements. In the future, Ant must think about and adjust its business model to comply with the new regulatory requirements.
Internet economy anti-monopoly wave
Including Alibaba and Ant Group, the entire Chinese Internet economy is facing antitrust pressure.
The Politburo meeting of the CPC Central Committee held on December 11 clearly stated for the first time “strengthening anti-monopoly. Preventing the disorderly expansion of capital.” The subsequent CPC Central Economic Work Conference also specifically mentioned relevant anti-monopoly issues.
Wang Jun, chief economist of Zhongyuan Bank, said, “This signal is very strict and obvious. The meaning of’beating’ is very strong, and the hierarchy is getting higher and higher. I want to evade supervision and harvest leeks.”
The official media also pointed out the community e-commerce boom among Internet companies. “Internet giants with massive amounts of data and advanced algorithms should have more responsibility, more pursuits. And more actions in technological innovation. Merely thinking about the flow of a few bundles of cabbage. A few catties of fruits, the sea of stars of technological innovation. After that, the infinite possibilities of the future are actually even more exciting.”