Like other e-commerce companies, China's Alibaba has had a remarkable year in which it has made a huge profit, due to the high orders due to the coronavirus epidemic, which prevented many people from making direct purchases, and last November's Chinese Singles Day made the company a huge and unprecedented profit.
But China's Alibaba is facing major problems in its home country, China, which could break its success at the global level, as Chinese authorities have begun investigating new charges against Alibaba in relation to monopoly operations and exploitation of the dominant position of the e-commerce company, where sources quote the complaints of some entities that Alibaba is forcing traders to sell their products and goods exclusively on its platform, but some say that the case is merely revenge from the Chinese authorities.
According to the British newspaper Financial Times, the new decision was in response to criticism sought by the founder and CEO of China's Alibaba company Jack Ma for the Chinese state-owned banking sector as well as the country's financial sector regulators, and the newspaper says that the new decision was not the first of its kind in the recent period, as it was preceded by the cancellation of the IPO of Ant Group at the last minute in addition to the fine of Alibaba Group last week for failing to report an acquisition deal.
The giant Alibaba group is currently facing major problems in China with the Chinese authorities, with press sources saying the problems are political, not economic or judicial.
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