The State Administration for Market Regulation announced that Alibaba has completed its rectification, Alibaba: This is a new starting point for development

On the afternoon of August 30th, the State Administration for Market Regulation announced that Alibaba Group has completed a three-year rectification with good results.

Wall Street News received a response from Alibaba: "For Alibaba, this marks a new starting point for development. In the future, we will continue to focus on innovation, adhere to compliant operations, increase investment in technology, promote the healthy development of the platform economy, and create more value for society."

The State Administration for Market Regulation stated in the announcement that Alibaba has strictly regulated its own business operations, diligently implemented platform responsibilities, improved corporate compliance management systems, enhanced the level of service for platform merchants and consumers, and achieved good results in compliance rectification. Next, the Administration will provide solid support for building a world-class enterprise and enhancing international competitiveness.

According to public information, in April 2021, Alibaba conducted a three-year self-inspection and rectification as required by the State Administration for Market Regulation