According to CCTV News, today, in response to "Ali was fined 18.2 billion", the Ministry of Commerce responded that with regard to the e-commerce industry, we always adhere to the principle of equal emphasis on development and regulation. Supporting enterprise innovation and development, healthy competition, and also committed to creating a fair and competitive market environment, which is conducive to the sustainability of the industry as a whole. We will work with relevant departments to strengthen planning and guidance for the e-commerce industry, improve the system, encourage innovation and fairness, promote integrity construction, and promote the stable, healthy and sustainable development of the industry.

On April 10, due to abuse of this dominant market position, a "two-choice" requirement was imposed on the merchants on the platform, and merchants on the platform were forbidden to open stores or participate in promotional activities on other competitive platforms, and use market power, platform rules, data, and algorithms. And other technical means, adopt a variety of reward and punishment measures to ensure the implementation of the "choice of two" requirements, maintain and strengthen its own market power, and gain an unfair competitive advantage. Alibaba was fined 4% of China's domestic sales of 455.712 billion yuan in 2019, totaling 18.228 billion yuan.

On April 12, the People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission, Foreign Exchange Bureau and other financial management departments once again jointly held an interview with Ant Group.

The People's Bank of China stated that the rectification content of Ant Group mainly includes five aspects:

The first is to correct unfair competition behavior in the payment business, give consumers more choices in payment methods, disconnect the improper connection between Alipay and other financial products such as "huabei" and "borrow", and correct the nesting in the payment link Credit business and other violations.

The second is to break the information monopoly, strictly implement the requirements of the "Credit Investigation Industry Management Regulations", operate personal credit investigation services with a license in accordance with the law, collect and use personal information in accordance with the principle of "lawfulness, minimum, and necessity" to ensure personal and national information security.

The third is that Ant Group has applied for the establishment of a financial holding company as a whole, and all institutions engaged in financial activities are included in the financial holding company to accept supervision, improve risk isolation measures, and standardize related transactions.

Fourth, strictly implement the requirements of prudential supervision, improve corporate governance, earnestly rectify financial activities such as illegal credit, insurance, and wealth management, and control high leverage and risk contagion.

Fifth, the liquidity risk of important fund products was controlled and the balance of Yu'e Bao was actively reduced.

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