Chinese regulators have launched an antitrust investigation into Chinese e-commerce giant Alibaba Group Holding Ltd. BABA 0.14% and separately summoned Alibaba affiliate Ant Group for meetings on competition and consumer rights, Chinese state media reported Thursday.
The Alibaba investigation was released by the State Administration for Market Regulation, while China’s central bank and three other regulators said in a separate statement that it would summon Ant for talks. Taken together, the two actions mark the strongest enforcement action by Beijing against the country’s biggest technology giant and its billionaire founder Jack Ma.
Alibaba didn’t immediately respond to a request for comment. Ant Group acknowledged that it received a meeting notice from the regulators, saying it would “seriously study and strictly comply with all regulatory requirements.”
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