On October 22, Alibaba shares fell as much as 6.3% in Hong Kong trading, their sharpest decline in two months. China’s State Administration for Market Regulation (SAMR) had summoned Alibaba and other major e-commerce platforms to a symposium.
At the meeting, the regulator urged companies to improve product quality, tighten safety standards and strengthen consumer protection. Authorities highlighted risks in growing sectors such as livestreaming e-commerce and quick retail.
The meeting renewed investor concerns about regulatory pressure on China’s technology industry. Those concerns contributed to a broader decline in the Hang Seng Tech Index.