The Market Supervision Bureau supervises Alibaba Group Holding Limited (09988) to complete a three-year rectification.

On August 30th, the State Administration for Market Regulation issued a document stating that over the past three years, the administration has strengthened supervision of the compliance rectification of Alibaba Group (09988), conducted in-depth checks on the implementation of rectification measures, and entrusted third-party organizations to assess enforcement effectiveness. Based on the checks and assessments, Alibaba Group has fully stopped the "choose one out of two" monopoly behaviors, strictly regulated its own business operations, diligently implemented platform responsibilities, improved enterprise compliance management systems, enhanced services for platform merchants and consumers, and achieved good results in compliance rectification. This has led to improvements in the online retail market environment, effective restoration of fair competition order, continuous expansion of market development space, significant increase in inter-platform competition vitality, and continuous optimization of platform economic development quality and business environment. Next, the State Administration for Market Regulation will continue to guide Alibaba Group to operate in compliance, further improve compliance quality and efficiency, accelerate innovation-driven development, continuously enhance service levels, and provide solid support for building a world-class enterprise and enhancing international competitiveness. In April 2021, the State Administration for Market Regulation lawfully imposed administrative penalties and conducted administrative guidance on Alibaba Group Holding Limited (hereinafter referred to as Alibaba Group) for its "choose one out of two" monopoly behaviors in the Chinese domestic online retail platform service market, ordering it to stop illegal behaviors, conduct comprehensive self-inspection and rectification, and submit compliance reports to the State Administration for Market Regulation for three consecutive years. The Central Committee and the State Council attach great importance to promoting the development of the platform economy. The State Administration for Market Regulation will resolutely implement the spirit of the 20th National Congress of the Communist Party of China and the second and third plenary sessions of the 20th Central Committee, coordinate efficiency and fairness, vitality and order, development and security, adhere to the principles of balanced regulation and development promotion, deepen anti-monopoly law enforcement in the field of platform economy, accelerate the improvement of normalized regulatory systems, guide platform companies to enhance compliance capabilities and levels, continuously optimize a fair competition market environment, and promote the standardized and healthy and continuously innovative development of the platform economy.