JD.COM ACCUSES ALIBABA ABOUT SINGLE'S DAY

No love lost in singles crunch by Alibaba

Wednesday, November 04, 2015

Alibaba Group Holding's largest e-commerce rival in China has accused the technology giant of violating market regulations and hampering competition in the lead-up to the nation's largest online sales promotion event.
JD.com filed a complaint with the consumer-protection regulator State Administration for Industry & Commerce, accusing Alibaba of telling merchants not to cooperate with other e-commerce platforms if they are participating in its Single's Day promotion this month.
The complaint comes as Alibaba continues to expand in various businesses, having reportedly prepared a US$2.1 billion (HK$16.38 billion) bid for Sina, according to the Beijing Youth Daily. Alibaba already owns 18 percent of Sina Weibo, a unit of Sina. It bought Twitter-like Weibo's shares for US$586 million in 2013.
Sina reportedly has stopped recruitment as well as laid off staff for cost control. It has also started business integration and operational optimization for a good sale price.Also, China Harmony New Energy Auto Holding (3836) saw its shares soar 13.9 percent to HK$5.90 after it revealed plans to cooperate with Alibaba's automobile unit to open 300 car-maintenance outlets in two years. DAISY WU AND BLOOMBERG