Alibaba Holdings Group, along with other major Chinese tech companies such as Tencent, is facing a clampdown from regulators that are seeking to eliminate tax breaks while also curbing the use of customers' personal information. Regulators are concerned that China's tech giants are using their large market and internet presence to further dominate markets in China. In April, Alibaba was fined $2.8 billion by China's State Administration for Market Regulation as part of an anti-monopoly investigation.