Sinlung /
12 April 2021

Alibaba Fined, Thanks Regulators...

China Giveth, China Taketh away....

Chinese regulators have fined Alibaba 18 billion yuan ($2.75 billion) - around 4% of its revenues in 2019 - for violating anti-monopoly rules and abusing its dominant market position.

The State Administration for Market Regulation has also ordered Alibaba to make "thorough rectifications" to strengthen internal compliance and protect consumer rights. ($1 = 6.5522 yuan)


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