Alibaba Group completes three-year rectification and releases new signals

After three years of unremitting efforts and continuous rectification, Alibaba Group announced that it has successfully completed all the rectification requirements proposed by the State Administration for Market Regulation. This important achievement not only marks Alibaba has taken a solid step on the road of compliance management, but also releases a positive signal for the transformation and upgrading of the entire Internet and even China's economy.

It is understood that in recent years, with the rapid development of the Internet platform economy, Alibaba and other leading enterprises have become increasingly influential in the market. To ensure the fairness and justice of the market and the legitimate rights and interests of consumers, regulatory authorities have put forward higher compliance requirements for platform enterprises. In this context, Alibaba took the initiative to accept supervision and embarked on a three-year comprehensive rectification journey.

During the rectification period, Alibaba started from multiple dimensions such as institutional construction, organizational structure adjustment, and business model optimization, deeply analyzed its existing problems, and took a series of effective measures to rectify them. The company has not only strengthened the cultivation of anti-monopoly awareness, but also established a sound internal compliance management system to ensure that all business activities operate within the framework of laws and regulations.

It is worth mentioning that Alibaba Group's compliance rectification work has achieved good results, the online retail market environment has been significantly improved, and the fair competition order has been effectively restored. Specifically, the effectiveness of the rectification work is mainly reflected in the following aspects:

Firstly, by ceasing monopolistic practices such as "choose one from two", Alibaba Group has effectively promoted fair competition in the market, providing more development space for other platform enterprises and significantly enhancing market vitality.

Secondly, in the process of rectification, Alibaba Group has strengthened its internal control and compliance management, safeguarded the legitimate rights and interests of merchants and consumers on the platform, and improved consumer satisfaction.

Thirdly, after rectification, the quality of platform economy development and business environment have been continuously optimized, and the competition vitality between platforms has significantly increased, providing strong support for the sustained and healthy development of China's platform economy.

Alibaba Group has completed three years of rectification and achieved significant results, which can be seen as a positive signal from regulatory authorities to support and encourage the development of platform economy. This signal not only reflects the regulatory authorities' efforts to maintain fair competition in the market, but also to guide and support the healthy development of the platform economy in a standardized manner.

In addition, for platform economy operators like Alibaba, this positive signal means a more stable and predictable policy environment. Alibaba Group stated that it will take this opportunity to continue to focus on innovation, adhere to compliant operations, increase investment in technology, and promote the sustainable and healthy development of the platform economy. At the same time, Alibaba Group will actively fulfill its social responsibility, create more value for society, and contribute to the high-quality development of China's digital economy.

With the continuous improvement of the platform economic supervision policy and the increasing optimization of the market competition environment, Alibaba Group is expected to achieve more stable and sustainable development at a new starting point. We look forward to Alibaba Group continuing to play its role as an industry leader and leading China's platform economy into a more prosperous and healthy future."

To sum up, Alibaba Group has completed the three-year rectification and released new signals, which is of great significance to the entire Internet industry and even China's digital economy. We believe that in the future development, Alibaba will continue to adhere to the concept of compliance management, actively fulfill its social responsibilities, and jointly create a more healthy, orderly and prosperous Internet market environment.