China regulators slap $2.75 billion fine on Alibaba for anti-monopoly violations
The State Administration for Market Regulation (SAMR) said that after an investigation launched in December, it had determined that Alibaba Group had been "abusing market dominance" since 2015
Reuters | April 10, 2021 | Updated 07:59 IST
Chinese regulators have fined Alibaba 18 billion yuan ($2.75 billion) - around 4% of its revenues in 2019 - for violating anti-monopoly rules and abusing its dominant market position.
The State Administration for Market Regulation (SAMR) said that after an investigation launched in December, it had determined that Alibaba Group had been "abusing market dominance" since 2015 by preventing its merchants from using other online e-commerce platforms.