Alibaba fined $2.8 billion on competition charge in China

Alibaba fined $2.8 billion on competition charge in China

3 years ago
Anonymous $4BDEsVAtYS

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.