China's market regulator investigates Alibaba joint venture

[April 19, 2021]  BEIJING (Reuters) - China's Minmetals Development said on Monday that the country's market regulator is investigating an e-commerce joint venture between the company and Alibaba Group.

Minmetals said on Monday that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the matter.

In December 2015, subsidiaries of China Minmetals and Alibaba jointly announced their cooperation to build an e-commerce platform for steel.

(Reporting by Sophie Yu and Tony Munroe, editing by Louise Heavens)

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