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IPFS News Link • China

China Targets Jack Ma's Alibaba Empire in Monopoly Probe

• finance.yahoo.com, Lulu Yilun Chen and Coco Liu

The probe announced Thursday marks the formal start of the Communist Party's crackdown on the crown jewel of Ma's sprawling dominion, spanning everything from e-commerce to logistics and social media. The pressure on Ma is central to a broader effort to rein in an increasingly influential internet sphere: Draft anti-monopoly rules released November gave the government wide latitude to restrain entrepreneurs who until recently enjoyed unusual freedom to expand their realms.

Once hailed as drivers of economic prosperity and symbols of the country's technological prowess, Alibaba and rivals like Tencent Holdings Ltd. face increasing pressure from regulators after amassing hundreds of millions of users and gaining influence over almost every aspect of daily life in China.


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