After Months of Speculation, Regulators Drop Hammer on Jack Ma's Business Empire
Posted by John Chan | Apr 12, 2021 Six months after abruptly calling off fintech giant Ant Group’s IPO and launching an investigation into Alibaba for antitrust violations, Chinese regulators have at last announced their penalties against the two affiliated companies. Over the weekend, the State Administration of Market Regulation (SAMR) announced a record 18.2 billion RMB ($2.8 billion USD) fine on Alibaba for its anticompetitive “two choose one” policy. But as the Wall Street Journal’s Keith Zhai reported, China’s State Administration for Market Regulation said Saturday in Beijin...