(Bloomberg) — Chinese authorities in the city of Hangzhou, home base to Alibaba Group Holding Ltd. and Ant Group Co., have imposed “compulsory curbs” on an individual surnamed Ma, state broadcaster CCTV reported Tuesday.
The person, who was otherwise unidentified, was placed under the so-called controls on April 25 after being accused of inciting subversion of state power and other activities that endangered national security, CCTV said in its brief report, without elaborating.
Shares in Alibaba slid more than 9% in Hong Kong. Representatives for Alibaba and Ant didn’t immediately respond to requests for comment.
https://www.bnnbloomberg.ca/china-slaps-compulsory-measures-on-person-named-ma-cctv-says-1.1760213
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