Exterior of Alibaba Group Beijing Headquarters on November 10, 2019 in Beijing, China.
VCG | Visual China Group | Getty Images
Chinese regulators hit Alibaba with a 18.23 billion yuan ($2.8 billion) fine in its anti-monopoly investigation of the tech large.
In a Saturday assertion, China’s State Administration for Market Regulation accused Alibaba of abusing its market dominance.
Regulators opened a probe into the corporate’s monopolistic practices in December. The investigation’s predominant focus was a follow that forces retailers to decide on certainly one of two platforms, moderately than having the ability to work with each.
The authorities mentioned that “select one” coverage and others allowed Alibaba to bolster its place in the market and achieve unfair aggressive benefits.
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