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Alibaba Fined $2.8 Billion on Monopoly Charge in China
Posted on 2021-04-10 12:15:04
Chinese regulators have fined e-commerce giant Alibaba 18.3 billion yuan
($2.8 billion) on charges of violating anti-monopoly rules.

The ruling Communist Party is tightening control over China's biggest
e-commerce and other internet companies and has warned them not to use their
industry dominance to stifle competition.

The State Administration for Market Regulation announced today that Alibaba
was fined for abusing its dominant position to limit competition in online
retailing.

Alibaba is the world's biggest e-commerce company by total volume of goods
sold across its platforms.

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