HONG KONG -- Alibaba Group's three-year process of "rectifying" its monopolistic practices is over, the Chinese government said on Friday, signaling a more supportive stance by the government toward the private sector in hopes of revitalizing sluggish economic growth.
The State Administration for Market Regulation announced on Friday afternoon that a fair competitive order has been restored after Alibaba's rectification, adding that the regulator will provide "solid protection" to enhance international competitiveness to help the company be a "world-class enterprise."
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