Photo: AFPWashington: Chinese e-commerce giant Alibaba says it is under investigation by US regulators in connection with its accounting practices. Alibaba said the agency has requested documents and information related to its policies and practices for consolidating earnings and for related party transactions, among other things. The company, whose digital platforms make up 80% of Chinese e-commerce, disclosed the investigation by the US Securities and Exchange Commission (SEC) in a regulatory filing on Tuesday. Alibaba said it was told by the SEC that the request for information shouldn’t be interpreted as an indication by the agency that the company has violated securities laws. Alibaba said the agency has requested documents and information related to its policies and practices for consolidating earnings and for party transactionsPeople walk past the entrance of the Alibaba headquarters in Hangzhou, east China’s Zhejiang province.

Source: Mint May 25, 2016 08:56 UTC