Chinese Regulators Open Investigation Into E-Commerce Giant Alibaba

China's market regulator announced Thursday that it had opened an investigation into the country's e-commerce giant, Alibaba, for alleged anti-competitive activities.

In a short statement issued Thursday, China's State Administration for Market Regulation said that the probe is focusing on allegations that the company forces merchants on its website to sign exclusive cooperation agreements, preventing them from selling products on rival platforms.

A spokesperson for Alibaba said the company "will actively cooperate with the regulators on the investigation. Company business operations remain normal."

The inquiry into Alibaba comes more than a month after regulators for the Shanghai Stock Exchange abruptly suspended an initial public stock offering for Alibaba's sister company, Ant Group, citing "major issues."

The Chinese financial company was set to mark the world's largest IPO, which was expected to raise an estimated $37 billion and boost Ant's market value to more than $300 billion.