China's regulatory crackdown has ensnared sectors from technology to education to property, wiping hundreds of billions off the market capitalisations of some of its largest companies and putting investors on alert over who may be next.
The woes of China's biggest e-commerce company began in late 2020 when China abruptly suspended the record $37 billion stock market debut of its financial affiliate Ant Group and later fined Alibaba $2.75 billion for abusing its market dominance.
The company has been fined for failing to report past deals to anti-trust regulators, its $5.3 billion plan to merge China's top two videogame streaming sites was blocked and it has been barred from entering music copyright agreements. The company has also been criticised by state media over how it pays its drivers.
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