Alibaba antitrust investigation: Beijing slaps e-commerce giant with record US$2.8 billion fine in landmark case

//Alibaba antitrust investigation: Beijing slaps e-commerce giant with record US$2.8 billion fine in landmark case

Alibaba antitrust investigation: Beijing slaps e-commerce giant with record US$2.8 billion fine in landmark case

China’s antitrust regulators slapped a record fine on one of the country’s largest technology conglomerates, closing a months-long investigation that began last Christmas Eve and setting the precedent for the government to use anti-monopoly rules to regulate the country’s Big Tech.Alibaba Group Holding, the world’s largest e-commerce company and owner of this newspaper, was fined 18.2 billion yuan (US$2.8 billion) by the State Administration for Market Regulation (SAMR).The Hangzhou-based…

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By | 2021-04-10T02:40:03+00:00 April 10th, 2021|Technology|Comments Off on Alibaba antitrust investigation: Beijing slaps e-commerce giant with record US$2.8 billion fine in landmark case