China's State Administration for Market Regulation is focusing on allegations that Alibaba forces merchants on its website to sell only on its platform.
The initial public stock offering of the Chinese financial company Ant Group, which would have been the world's largest stock offering of all time, has been put on hold.
The rejection comes despite Chinese billionaire Jack Ma's attempts to form ties with the Trump administration; he visited Trump Tower in January of last year.
Shares of the Chinese e-commerce giant opened at $92.70 a share on the New York Stock Exchange today, making it the biggest initial public offering in U.S. history. They were priced at $68 a share.