China CCP to Nationalize Jack Ma's Alibaba and Ant Group Report


Source: ibtimes.sg ibtimes.sg

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Reports from China indicate that the Chinese government may be working on a plan to nationalize Jack Ma's Alibaba and the Ant Group. China's ruling Chinese Communist Party (CCP) has gone further ahead with the antitrust investigation into e-commerce giant Alibaba. "Based on tip-offs received by the State Administration for Market Regulation in recent days, the administration will be investigating Alibaba ... for suspected monopolistic activities," the government said. The investigating agencies had set up an office at the Alibaba headquarters in November. Apart from the e-commerce giant, investigators are also probing social media giant Tencent and e-commerce company Meituan....