China has launched an antitrust investigation into Alibaba Group and will summon the technology giant’s Ant Group affiliate to meet in the coming days, regulators said on Thursday, in the latest blow for Jack Ma’s e-commerce and financial technology empire. Al Jazeera reports that the probe is part of an accelerating crackdown on monopolistic behaviour in China’s booming internet space following the dramatic suspension last month of Ant’s planned $37bn initial public offering, which had been on track to be the world’s largest, just two days before shares were due to begin trading in Shanghai and Hong Kong. Fred Hu, chairman of Primavera Capital Group, an Ant investor, said global markets would be watching closely to see whether the moves are “politically motivated or genuine impartial law enforcement” and whether regulators target only the private sector but not state monopolies.