Alibaba has completed a three-year regulatory "rectification" process following an antitrust fine it received on charges of monopolistic practices in 2021, China's market regulator said on Friday.
In 2021, China's SAMR fined Alibaba 18.23 billion yuan ($2.6 billion) as part of an anti-monopoly investigation into the tech giant.
Jefferies analysts said in a note Friday that the conclusion of the regulatory process was a "positive" for the company, which "highlights this is a new start and ensures compliance in operations."
Ant Group itself also underwent a regulator-supervised rectification process, with most of the major issues resolved by last year.
Regulatory concerns have been an overhang on the Alibaba stock, which has fallen more than 70% from its peak in 2020.
Persons:
Alibaba, China's SAMR, Jefferies, Jack Ma, —, Christine Wang
Organizations:
China's, Administration, Market, Alibaba, Ant Group, Ant
Locations:
Beijing, China