China’s market regulator investigates Alibaba-Minmetals JV

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Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.

Alibaba declined to comment.

The investigation follows the record $2.75 billion antitrust fine imposed on Alibaba earlier this month.