Here Are the Key Events Behind China's Investigation Into Alibaba Group

Business Standard Here are the key events behind China's investigation into Alibaba Group

China has launched an investigation into Alibaba Group for suspected monopolistic behaviour and will summon its Ant Group to meet in coming days, regulators said

(Reuters) - China has launched an investigation into Alibaba Group for suspected monopolistic behaviour and will summon its Ant Group to meet in coming days, regulators said, in the latest blow for Jack Ma's e-commerce and fintech empire.

Here's a timeline of key events leading up to the investigation.

SEPT 14 - CHINA ROLLS OUT NEW RULES FOR FINANCIAL HOLDING FIRMS China issues new rules to regulate financial holding companies, with the central bank saying there had been a loophole in regulations for such companies.

Ant was among companies named by Pan Gongsheng, the People's Bank of China vice governor.

OCT 21 - ANT WINS GREEN SIGNAL FROM REGULATOR Ant wins the final nod from China's top securities watchdog to register its Shanghai IPO, clearing the last regulatory hurdle for its issue.

OCT 24 - "OLD MAN'S CLUB At a public event attended by Chinese regulators, Ma, China's richest man, said the financial and regulatory system stifled innovation and must be reformed to fuel growth. He also compared the Basel Committee of global banking regulators to "an old man's club".