The Chinese government’s State Administration for Market Regulation (SAMR) has launched an anti-trust investigation against the Alibaba Group to verify charges that its marketplaces require merchants to sign exclusive agreements that prevent them from offering products on other internet platforms. Separately, the People’s Bank of China said that Ant, Alibaba’s fintech unit, has to change its lending, insurance and wealth management services. The central bank added that Ant has to rapidly propose a timeframe to overhaul its businesses.
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