SAC Taobao white paper for the conference record no legal effect

Sina

technology news January 30th evening news, on January 28th the State Administration for Industry and commerce network monitoring department released the "white paper", a spokesman for the State Administration for Industry and Commerce on the evening of January 30th official statement, said this was not a white paper, is the essence of the administrative guidance Forum meetings, has no legal effect.

The

spokesman said, "in July 16, 2014, the State Administration for Industry and Commerce will be held in our network Guide discussion of administrative Alibaba group in Zhejiang province…… After the meeting, according to the discussion, the formation of our network "on the administrative guidance work of the Alibaba’s white paper" and released in January 28, 2015. Its essence is the meeting minutes of the forum, not the white paper. The record does not have legal effect." At the same time, he added, "in November 2009, the State Administration for Industry and Commerce issued" on the administrative department for Industry and commerce to promote the work of administrative guidance opinion ", 2014, the national industrial and commercial systems implemented a total of more than 1 times of administrative guidance."

"white paper" is part of a series of disputes with the State Administration for Industry and commerce department supervisor on taobao.com sampling problems caused by the. In January 23rd, our network released a "the second half of 2014 network commodity transaction directional monitoring results", then in January 27th, taobao.com staff issued a provincial network operation problem question. The next morning, our supervisor "in view of the current regulatory situation, for the clearance of all kinds of cognitive," was released "on the administrative guidance work of the Alibaba’s white paper". In the afternoon, Taobao responded to a formal complaint department director of "emotional law enforcement network". The white paper also on the evening of the official website of the State Administration for Industry and Commerce quietly removed, and the next day at noon to delete.

generally, the white paper is a country government or parliament formally published in important documents white cover or report name. However, the State Administration for Industry and Commerce issued a white paper to the enterprise. This triggered widespread concern at home and abroad, and become the key to the incident out of control.

white paper released the next day, the international media attention to this phenomenon as the Chinese government opinion. Even as the emerging technology companies, but also the government’s intervention." As well as questioned Alibaba in IPO before concealing his government investigation information. Many institutional investors began to doubt whether Chinese enterprises in the non market competitive environment".

move together with the Chinese concept stocks collectively fell for a period of two days, in which the concept of evaporation of $60 billion shares, of which Alibaba fell to $33 billion market capitalization.

Although Alibaba

group executive vice chairman of the board Cai Chongxin stressed that in the face of investors when asked (white paper) is just a daily content and regulatory talks, not requiring agencies to delay the disclosure of the report. But outside investors are difficult to understand the clearance, January 30th, four law firms announced on behalf of Alibaba shareholders Ali may not provide the real business information to investigate such issues for investors.

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