The Chinese authorities’ antitrust action against the e-commerce giant appears arbitrary, which will not bolster investor confidence in China’s thriving internet firms.
Alibaba and Ant Group founder Jack Ma has become the focus of a regulatory crackdown. Credit: Alibaba Group
HONG KONG – Since the Chinese authorities suddenly halted fintech conglomerate Ant Group’s planned initial public offering in autumn 2020, its parent company, e-commerce king Alibaba, has been facing harsh regulatory scrutiny. On Christmas Eve, China’s antitrust authority announced that it was investigating the firm’s exclusive business practices. And Alibaba’s founder, Jack Ma, recently eased concerns regarding his fate by appearing in public for the firs
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