The Chinese government intends to fight more against monopolies and anti-competitive practices of internet platforms, against a backdrop of political control. First targeted, Alibaba
The pressure is mounting on Alibaba. After fintech and e-commerce, it is the turn of media activities to be in Beijing’s sights. Chinese authorities have asked the tech giant founded by Jack Ma to sell all or part of its media assets, the Wall Street Journal reported on Tuesday.
Alibaba owns the leading English-language Hong Kong daily South China Morning Post (SCMP) and also has stakes in the social network Weibo (the Chinese “Twitter”), the online video platform Bilibili as well as in other media or advertising. Chinese leaders are worried about the growing influence on opinion that Alibaba would exert, indicates the “Wall Street Journal”.