SHANGHAI (Reuters) - Alibaba Group CEO Daniel Zhang said on Monday he does not expect any material impact from the change of exclusivity arrangement imposed by China s regulators, after an anti-trust probe found the firm had abused its dominant market position. Alibaba, China s largest e-commerce company, will introduce measures to lower entry barriers and business costs faced by merchants on its platforms, Zhang told an online conference for media and analysts.
China on Saturday imposed a record 18 billion yuan ($2.75 billion) fine on Alibaba amid a crackdown on technology conglomerates, signalling a new era after years of laissez-faire approach. The e-commerce giant has come under intense scrutiny since billionaire founder Jack Ma s public criticism of the Chinese regulatory system in October.
Alibaba CEO Daniel Zhang said on Monday he does not expect any material impact from the change of exclusivity arrangement imposed by China's regulators, after an anti-trust probe found the firm had abused its dominant market position.