Connect with us

Business

Alibaba fined $3.66 billion on monopoly charge in China – Sydney Morning Herald

The Chinese Communist Party is cracking down on the country’s biggest e-commerce company, warning it not to stifle competition.

Published

on

Article feature image

Shanghai: Chinese regulators have fined Alibaba 18 billion yuan ($3.66 billion) – around 4 per cent of its revenues in 2019 – for violating anti-monopoly rules and abusing its dominant market position.
The State Administration for Market Regulation (SAMR) said that after an investigation launched in December, it had determined that Alibaba Group had been abusing market dominance since 2015 by preventing its merchants from using other online e-commerce platforms.
Alibaba founder Jack Ma only recently…

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

Article feature image
How Victoria got hooked on gas, and why the heat’s on to find new fuel – The Age
Article feature image
Bank of England governor says cryptocurrency investors should ‘be prepared to lose all their money’ – NEWS.com.au