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China tech

China moves to disrupt Alibaba's iron grip on vendors

Authorities no longer able to turn blind eye to anti-competitive practices

Despite almost six months of violent anti-government protests, Alibaba's $12.9 billion share sale in Hong Kong, which prices on Wednesday, will be the world's largest equity offering this year.    © Reuters

SHANGHAI -- When China's e-commerce giant Alibaba Group Holding gave an ultimatum to Chinese home appliance manufacturer Galanz, the world's largest microwave maker did the unthinkable. It refused.

"If you want to continue to sell on Alibaba, you will have to stop dealing with Pinduoduo," a Galanz manager said he was told. Pinduoduo is the country's third-largest e-tailer.

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