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China fines Alibaba record US$2.75 billion for anti-monopoly violations

China fines Alibaba record US$2.75 billion for anti-monopoly violations
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China's Alibaba hit with record $2.75 billion antitrust fine

By Reuters Staff
5 Min Read
(Reuters) -Chinese regulators said on Saturday they have fined Alibaba Group Holding Ltd a domestic record $2.75 billion for antitrust violations, amid an unprecedented regulatory crackdown on Jack Ma’s company and other technology conglomerates.
FILE PHOTO: Jack Ma, founder and executive chairman of China's Alibaba Group, speaks in front of a picture of SoftBank's human-like robot named 'pepper' during a news conference in Chiba, Japan, June 18, 2015. REUTERS/Yuya Shino/
STORY:
LIU XU, RESEARCHER AT THE NATIONAL STRATEGY INSTITUTE, TSINGHUA UNIVERSITY
“The $2.75 billion fine bill is not as big as we think - it’s almost a symbolic fine for Alibaba... The implications for the rest of China’s internet platforms are limited...

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China's Alibaba hit with record $2.75 bln antitrust fine

HONG HAO, HEAD OF RESEARCH BOCOM INTERNATIONAL, HONG KONG
“This penalty will be viewed as a closure to the antimonopoly case for now by the market. It’s indeed the highest profile antimonopoly case in China.
“The market has been anticipating some sort of penalty for some time … but people need to pay attention to the measures beyond the antimonopoly investigation, such as the divestment of media assets.”
MITCHELL KIM, INDEPENDENT TMT ANALYST, NEW YORK
“I think it’s actually positive in that the share overhang will finally be lifted. Known downside is better than an unknown risk. The fine is record-setting but it is still less than 1% of Baba’s market cap.

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China fines Alibaba record $2.75 billion for anti-monopoly violations

China fines Alibaba record $2.75 billion for anti-monopoly violations
FILE PHOTO: FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing
SHANGHAI/HONG KONG (Reuters) – Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country.
The penalty, equivalent to around 4% of Alibaba’s 2019 revenues, comes amid an unprecedented regulatory crackdown on home-grown technology conglomerates in the past few months that have weighed on company shares.
Alibaba’s billionaire founder Jack Ma’s business empire has been particularly put under intense scrutiny after his stinging criticism of China’s regulatory system in late October.

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Jack Ma to pay China Sh295 billion

THE STANDARD
ASIA
Jack Ma is the founder of China-based e-commerce company Alibaba. [File, Standard]
Chinese regulators said on Saturday they have fined Alibaba Group Holding Ltd a domestic record $2.75 billion (Ksh295 billion) for antitrust violations, amid an unprecedented regulatory crackdown on Jack Ma’s company and other technology conglomerates.
LIU XU, RESEARCHER AT THE NATIONAL STRATEGY INSTITUTE, TSINGHUA UNIVERSITY
“The $2.75 billion fine bill is not as big as we think - it’s almost a symbolic fine for Alibaba... The implications for the rest of China’s internet platforms are limited...
“A true enhancement of China’s antitrust efforts will depend on persistent determination from the central government and a more transparent, fair mechanism to help the antitrust forces to get rid of various kinds of interference during their investigations and enforcement.”

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China Regulator Fines Alibaba Group $2.75 Billion for Market Monopoly Practice

HEADLINES & GLOBAL NEWS
By
Apr 10, 2021 03:42 AM EDT
Chinese authorities fined Alibaba Group Holding Ltd 18 billion yuan or $2.75 billion for breaking antitrust rules and exploiting its dominant business position, the country's highest-ever antitrust fine.
The fine, which amounts to around 4 percent of Alibaba's 2019 sales, comes despite an ongoing regulatory crackdown on homegrown technology conglomerates in recent months, which has weighed on the company's stock. Since his detailed indictment of China's regulatory framework in late October, Alibaba's billionaire founder Jack Ma's business empire has been especially scrutinized.
China penalizes Alibaba for anti-monopoly violations
(Photo : Lintao Zhang/Getty Images)
China International Import Expo (CIIE) - Day One SHANGHAI, CHINA - NOVEMBER 05: Alibaba Chairman Jack Ma speaking duirng the Hongqiao International Economic and Trade Forum in the China International Import Expo at the National Exhibition and Convention Centre on November 5, 2018 in Shanghai, China. The first China International Import Expo will be held on November 5-10 in Shanghai.

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Alibaba Group Fined Record $2.75 Billion for Anti-Monopoly Violations in China

Alibaba Group Fined Record $2.75 Billion for Anti-Monopoly Violations in China
The penalty, equivalent to around 4 percent of Alibaba's 2019 revenues, is the highest ever antitrust fine to be imposed in China.
By Reuters | Updated: 10 April 2021 10:24 IST
Photo Credit: Reuters
Highlights
In December, China's SAMR announced an antitrust probe into Alibaba
Alibaba has said it "accepted" the decision
Chinese regulators have fined Alibaba Group Holding CNY 18 billion ($2.75 billion or roughly Rs. 20,500 crores) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country.
The penalty, equivalent to around four percent of Alibaba's 2019 revenues, comes amid an unprecedented regulatory crackdown on home-grown technology conglomerates in the past few months that have weighed on company shares.

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China fines Alibaba record $2.75b for anti-monopoly violations

China fines Alibaba record $2.75b for anti-monopoly violations
REUTERS/Aly Song
April 10, 2021
Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country.
The penalty, equivalent to around 4% of Alibaba’s 2019 revenues, comes amid an unprecedented regulatory crackdown on home-grown technology conglomerates in the past few months that have weighed on company shares.
Alibaba’s billionaire founder Jack Ma’s business empire has been particularly put under intense scrutiny after his stinging criticism of China’s regulatory system in late October.

Beijing , China , Shanghai , Hong-kong , Chinese , Ma-ali-baba , Hong-hao , Shi-jianzhong , Jack-ma , Alibaba-group-holding-ltd , Ant-group , International-in-hong-kong

Expert view: China's Alibaba hit with record $2.75 billion antitrust fine

By Reuters Staff
5 Min Read
(Reuters) - Chinese regulators said on Saturday they have fined Alibaba Group Holding Ltd a domestic record $2.75 billion for antitrust violations, amid an unprecedented regulatory crackdown on Jack Ma’s company and other technology conglomerates.
FILE PHOTO: Jack Ma, founder and executive chairman of China's Alibaba Group, speaks in front of a picture of SoftBank's human-like robot named 'pepper' during a news conference in Chiba, Japan, June 18, 2015. REUTERS/Yuya Shino/
STORY:
LIU XU, RESEARCHER AT THE NATIONAL STRATEGY INSTITUTE, TSINGHUA UNIVERSITY
“The $2.75 billion fine bill is not as big as we think - it’s almost a symbolic fine for Alibaba... The implications for the rest of China’s internet platforms are limited...

China , Shanghai , Leng-cheng , Fujian , Yunting , Jiangxi , Jianzhong , Sichuan , Chinese , Christian-schmollinger , Li-pei , Scott-murdoch

China fines Alibaba record US$2.75b for anti-monopoly violations

SHANGHAI/HONG KONG (April 10): China slapped a record 18 billion yuan (US$2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years.
The fine, about 4% of Alibaba's 2019 domestic revenues, comes amid a crackdown on technology conglomerates and indicates China's antitrust enforcement on internet platforms has entered a new era after years of laissez-faire approach.
The Alibaba business empire has come under intense scrutiny in China since billionaire founder Jack Ma's stinging public criticism of the country's regulatory system in October.
A month later, authorities scuttled a planned US$37 billion IPO by Ant Group, Alibaba's internet finance arm, which was set to be the world's biggest ever. The State Administration for Market Regulation (SAMR) announced its antitrust probe into the company in December.

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