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Minmetals Development

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2021

    China’s market regulator investigates Minmetals Development–Alibaba joint venture transaction

    Investigation

    Minmetals Development said it received notice that China’s State Administration for Market Regulation had opened an investigation into its transaction with Alibaba to establish the Minmetals E-commerce joint venture, on suspicion of an unlawful implementation of a business concentration. The article says Alibaba had transferred its stake in the venture in December 2019.

    Source excerpt

    • 调查原因是，五矿发展与阿里巴巴设立合营企业“五矿电子商务有限公司”的交易涉嫌构成违法实施经营者集中行为。
    • 中国五矿发展股份有限公司（五矿发展）4月19日发公告称，公司于近日收到（中共）国家市场监督管理总局出具的《涉嫌违法实施经营者集中立案调查通知书》。
    Source

  2. 2018

    Warning letter over irregular guarantees; joint venture suspected of illegal concentration of undertakings

    In 2018, Minmetals Development received a warning letter from the Beijing Securities Regulatory Bureau due to a subsidiary's irregular external guarantees and flaws in information disclosure concerning asset disposal; in 2021, its joint venture with Alibaba was suspected of illegally implementing a concentration of undertakings and was investigated by the State Administration for Market Regulation; in the same year's environmental inspection accountability, problems of excess emissions and false reporting by relevant subsidiaries led to responsible persons at Minmetals Development being held accountable. Rectification; the State Administration for Market Regulation later decided not to conduct further investigation.

    Source