Alibaba fined $2.8 billion on competition charge in China
https://apnews.com/6639cb02a43f5e2b789313177dcd7542
BEIJING (AP) — Alibaba Group, the world’s biggest e-commerce company, was fined 18.3 billion yuan ($2.8 billion) by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries.
Party leaders worry about the dominance of China's biggest internet companies including Alibaba at a time when the industry is expanding into finance, health services and other sensitive areas. The party says anti-monopoly enforcement, especially in tech industries, is a priority this year.
Alibaba fined $2.8 billion on competition charge in China
Apr 10, 2021, 3:15am UTC
https://apnews.com/6639cb02a43f5e2b789313177dcd7542
> BEIJING (AP) — Alibaba Group, the world’s biggest e-commerce company, was fined 18.3 billion yuan ($2.8 billion) by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries.
> Party leaders worry about the dominance of China's biggest internet companies including Alibaba at a time when the industry is expanding into finance, health services and other sensitive areas. The party says anti-monopoly enforcement, especially in tech industries, is a priority this year.