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The Beijing High People’s Court on Friday ruled that Alibaba ‘abused its market dominance’ and ordered the Taobao and Tmall operator to pay US$141 million in damages.
Alibaba, which said it would respect the court’s ruling, abused its market position by forcing vendors to sell with it exclusively, a Chinese court said.
The two e-commerce giants are taking a leaf out of the playbook of budget online retailer Pinduoduo, which has had that policy in place since 2021.
China’s economic slowdown has seen a discount-focused rival disrupt Alibaba's dominance in Chinese online retail.
Asian equities were mixed overnight as South Korea and Japan outperformed while Mainland China and India underperformed.