Unfortunately for Mr. Ma, it wasn’t only the duet with Ms. Wong that he lent his vocals too that month. On December 24, authorities said they would launch an antitrust investigation into alleged monopolistic practices of the Alibaba Group and Tencent Holdings, the other Internet giant and Alibaba-rival behind WeChat. The great irony, of course, was that the Alibaba Group had, more than any other, fought the monopolies of State-controlled banks. The grouse of entrepreneurs like Mr. Ma was that for the State, some monopolies appeared more welcome than others. Mr. Ma isn’t the only one in the Party’s crosshairs.

Source: The Hindu December 26, 2020 16:48 UTC