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

China fines Alibaba record $2.75bn for anti-monopoly violations
Al Jazeera English
© Alibaba said in a statement posted on its official Weibo account that it 'accepted' the decision and...
Alibaba said in a statement posted on its official Weibo account that it 'accepted' the decision and would resolutely implement the rulings imposed by regulators [File: Aly Song/Reuters]
Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75bn) 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 approximately 4 percent of Alibaba’s revenues in 2019, came amid an unprecedented regulatory crackdown on the home-grown technology conglomerates in the last few months that have weighed on company shares.

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

The logo of Alibaba Group is seen at its office in Beijing, China. — Reuters/File
China slapped a record $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 four per cent 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 a 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.

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China fines Alibaba record US$2.75bil for anti-monopoly violations (update)

* Penalty equals some 4% of Alibaba's 2019 China revenue * SAMR says Alibaba 'abusing market dominance' since 2015 * Alibaba accepts decision, says it will implement rulings
SHANGHAI/HONG KONG, April 10 (Reuters): 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.

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China fines e-commerce giant Alibaba a record £2bn

China slapped a record 18 billion yuan (£2billion) 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 per cent 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 a 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.
Alibaba and Ant Group founder Jack Ma has lost his title as China's richest man, a list published today showed, after he angered Beijing and his empire was put under heavy scrutiny by Chinese regulators

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Alibaba fined record $2.75-billion by Chinese authorities after antitrust probe

Alibaba fined record $2.75-billion by Chinese authorities after antitrust probe
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China fines Alibaba record Sh292.4billion for anti-monopoly violations

China fines Alibaba record Sh292.4billion for anti-monopoly violations
standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.

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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
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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China fines Alibaba record Sh292.4billion for anti-monopoly violations

China fines Alibaba record Sh292.4billion for anti-monopoly violations
standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.

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

China fines Alibaba record $2.75 bln for anti-monopoly violations
leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.

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

China's Alibaba hit with record $2.75 billion antitrust fine
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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