Alibaba stock plunges after China launches anti-monopoly probe into online retailer ...News

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Alibaba stock plunges after China launches anti-monopoly probe into online retailer
China’s antitrust regulator has kicked off an investigation into alleged monopolistic practices of internet giant Alibaba. One of Jack Ma’s other crown jewels, Ant Group, has been summoned for a regulatory meeting. The probe was announced on Thursday by the country’s top market watchdog, the State Administration for Market Regulation. In a brief statement on its website, the regulator said it was investigating Alibaba over its “choosing one from two” policy, which reportedly puts pressure on its sellers not to offer their goods on rival services. On the same day, China’s central bank and the agencies overseeing securities, banking and

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