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Alibaba monopoly case: China mulls record $1 billion fine on e-comm giant
The fine could outdo the $975 million paid by the US chipmaker Qualcomm in 2015, the biggest known for anticompetitive practices in China
BusinessToday.In | March 12, 2021 | Updated 15:14 IST
Alibaba s legal problems began following its founder Jack Ma s comments in October last year where he criticised China s byzantine regulatory system
Chinese government is mulling imposing a record penalty of around $1 billion on e-commerce giant Alibaba for allegedly violating monopoly norms, as authorities continue to tighten the noose around the company as part of a clampdown on the technology sector.
The fine could outdo the $975 million paid by the US chipmaker Qualcomm in 2015, the biggest known for anticompetitive practices in China, the Wall Street Journal reported.