Alibaba antitrust probe: not a sign winter is coming but a new start for tech industry, Chinese official media says

Alibaba antitrust probe: not a sign winter is coming but a new start for tech industry, Chinese official media says

Chinese official media has played down the political significance of Beijing’s antitrust probe into e-commerce giant Alibaba Group Holding and framed the move as a necessary technical step to ensure the healthy development of the industry.

People’s Daily, the official newspaper of the Chinese Communist Party, published two opinion pieces in two days interpreting the investigation as a move to help, not harm, the industry – even as investors in Hong Kong and New York rushed to sell their Alibaba stocks due to concerns about hostility from Beijing.

“For the platform economy, the strengthening of anti-monopoly supervision will not bring about a ‘winter’ of the industry, but rather a new starting point for better and healthier development,” the newspaper said in its second commentary on Friday.

Alibaba is the parent company of the South China Morning Post.