China kicks off antitrust probes into Alibaba over alleged monopolistic practices

The State Administration of Market Regulation, China’s antitrust watchdog agency, officially started investigating Alibaba Group Holding over alleged monopolistic business practices on December 24, 2020. Separately, the country’s central bank said it would summon executives of Ant Group — Alibaba’s fintech affiliate — for a meeting with the financial regulators, as China tightens regulations of the fintech industry.