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China’s market regulator investigates Alibaba joint venture

Stock Markets7 minutes ago (Apr 19, 2021 08:05AM ET)

(C) Reuters. FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing

BEIJING (Reuters) – China’s Minmetals Development said on Monday that the country’s market regulator is investigating an e-commerce joint venture between the company and Alibaba (NYSE:BABA) Group.

Minmetals said on Monday that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the matter.

In December 2015, subsidiaries of China Minmetals and Alibaba jointly announced their cooperation to build an e-commerce platform for steel.

China’s market regulator investigates Alibaba joint venture

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