BEIJING, CHINA - MARCH 04: Red flags flutter in the wind near the Chinese national emblem outside the Great Hall of the People where sessions of the Chinese People's Political Consultative Conference and National People's Congress are being held on March 4, 2014 in Beijing, China. "Based on our history and experience, we believe that peace can only be maintained by strength," National People's Congress spokesperson Fu Ying respond to a question concerning China's growing military power. (Photo by Feng Li/Getty Images) The accused person works as the director of hardware research and development at an IT company, the state-run Global Times reported, citing unidentified sources.
CCTV said the person was placed under so-called “compulsory measures” on April 25 after being accused of inciting subversion of state power and other activities that endangered national security.
CCTV’s two-sentence report lacked other details but rattled investors already on edge over Beijing’s clampdown over every corner of the internet sphere, which kicked off by targeting Ma.
Regulators halted the IPO of Ma’s Ant Group Co before waging a campaign to rein in alleged abuses and excesses by increasingly powerful internet firms.
Chinese authorities in the city of Hangzhou, where both Alibaba and Ant are based, were unavailable for comment during the Golden Week holidays. Representatives for Alibaba and Ant didn’t immediately respond to requests for comment.
Alibaba shares slipped 0.1% to HK$102 at 11:15 a.m. in Hong Kong. BM