Alibaba: SEC asking about Chinese regulators

Alibaba

Chinese e-commerce giant Alibaba said it is talking with the U.S. SEC about its dealings with Chinese regulators and more.

These discussions are at least partly concerning China's State Administration for Industry and Commerce (SAIC), which issued a so-called White Paper criticizing the firm for not doing enough to control illegal businesses operating on its platforms.

"Alibaba Group has received correspondence from the U.S. Securities and Exchange Commission asking for background facts and other information related to our interaction with one of our Chinese regulators, the SAIC, and related matters," Alibaba wrote in a release, adding that it was cooperating with the request.

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The company said it was releasing this information in a show of transparency with investors.

"Although Alibaba Group has no obligation to disclose the receipt of the SEC correspondence, we have chosen to proactively disclose the request because we value being open with our investors and feel that disclosure could help avoid false rumors or speculation," the company said in the release.

"The SEC letter states it should in no way be construed as Alibaba Group having done anything wrong or there having been any violation of securities law. We are committed to maintaining an open, transparent and cooperative relationship with all regulatory agencies and look forward to a constructive dialogue," the release concluded.

-Reuters contributed to this report.