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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.
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.
Alibaba has promoted a younger cohort to lead key Taobao and Tmall operations after the conglomerate’s CEO Eddie Wu took direct control of the e-commerce unit.
Alibaba’s Taobao and cloud units will directly answer to the conglomerate’s CEO, Eddie Wu, as the tech giant seeks to take on budget-focused PDD amid low consumer spending.
HONG KONG -- It was 2006, at a conference in San Francisco, and Amazon founder Jeff Bezos was crouched down in a packed auditorium attentively taking