Alibaba has completed a three-year regulatory rectification process overseen by China’s State Administration for Market Regulation. The tech conglomerate was fined over $2 billion in 2021 for monopolistic practices. Regulators confirmed that Alibaba has aligned with antitrust regulations, ending the “choose one of two” policy restricting merchants' options. This conclusion marks a significant step forward for Alibaba, signaling a potential shift in the regulatory environment for private tech firms in China. Alibaba's stock rose over 3% following the announcement.
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00:00It's Benzinga and here's what's on the block.
00:02Alibaba has completed a three-year regulatory rectification process overseen by China's
00:07State Administration for Market Regulation.
00:10The tech conglomerate was fined over $2 billion in 2021 for monopolistic practices.
00:16Regulators confirmed that Alibaba has aligned with antitrust regulations, ending the choose-one-of-two
00:20policy restricting merchants' options.
00:23This conclusion marks a significant step forward for Alibaba, signaling a potential shift in
00:28the regulatory environment for private tech firms in China.
00:31Alibaba's stock rose over 3 percent following the announcement.
00:34For all things money, visit Benzinga.com.