Beijings top market regulator said it investigated the three major e-commerce platforms after receiving complaints from consumers.
Regulatory Bodies
Six of Chinas largest consumer internet businesses, including Alibaba and Tencent, were informed of increased scrutiny of a popular e-commerce purchasing model.
The House unanimously approved legislation that threatens a trading ban of shares of Chinese companies, such as Alibaba, over concerns that their audits arent sufficiently regulated.
Lawmakers next week are likely to force Chinese companies with shares traded on American exchanges to finally comply with audit-oversight rulesor leave U.S. markets altogether.