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China Starts Probe Into Party Boss of Alibaba’s Home City

  • Media reports allegations about Zhou family’s stock purchases
  • Ant Group issues denial of share transfer without details
Ant Group Co. headquarters in Hangzhou, China.
Ant Group Co. headquarters in Hangzhou, China.Photographer: Qilai Shen/Bloomberg
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China is investigating Hangzhou’s top government official for serious disciplinary violations, casting a spotlight on the city that is home to Jack Ma’s Ant Group Co. and Alibaba Group Holding Ltd.

Hangzhou Municipal Party Committee Secretary Zhou Jiangyong, 53, has been placed under investigation for serious violations of party discipline and state law, the Central Commission for Discipline Inspection said in a statement Saturday. While the agency didn’t elaborate on Zhou’s suspected offenses, the party watchdog routinely uses such terminology to describe corruption probes.