HONG KONG — Alibaba Group's three-year “correction” of its monopolistic practices is over, China's government said Friday, signaling a more supportive government stance toward the private sector in hopes of reviving sluggish economic growth.
The State Administration for Market Regulation announced on Friday afternoon that the fair competition rule had been restored following Alibaba's amendment, adding that the regulator would provide “strong protection” to enhance its international competitiveness to help the company become a “world-class enterprise”.