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FRIDAY, MAY 30, 2025
China’s market regulator investigates Alibaba-Minmetals JV

Global Economy

Reuters
19 April, 2021, 06:55 pm
Last modified: 19 April, 2021, 06:56 pm

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China’s market regulator investigates Alibaba-Minmetals JV

The investigation follows the record $2.75 billion antitrust fine imposed on Alibaba earlier this month

Reuters
19 April, 2021, 06:55 pm
Last modified: 19 April, 2021, 06:56 pm
A logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. Reuters/Aly Song
A logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. Reuters/Aly Song

China's market regulator is investigating a joint venture between e-commerce giant Alibaba Group and Minmetals Development, Minmetals said on Monday, amid a broad antitrust clampdown on internet firms.

Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.

Alibaba declined to comment.

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The investigation follows the record $2.75 billion antitrust fine imposed on Alibaba earlier this month.

World+Biz / South Asia

China / Alibaba

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