Alibaba Group co-founder and executive chairman Jack Ma attending the opening debate of the 2018 edition of the WTO public forum on sustainable trade, at the WTO headquarters in Geneva on October 2, 2018. PHOTO | AFP
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What you need to know:
Beijing has targeted major technology firms in recent years, and in 2020 pulled Ant's planned initial public offering in Hong Kong at the last minute. The listing would have been a world record at the time.
Authorities also hit Alibaba, which Ma co-founded and formerly headed, with a record $2.75 billion fine for alleged unfair practices.
