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Jack Ma
On Saturday, Chinese regulators took their war against Jack Ma-founded empire Alibaba to a serious level, The regulators slapped a record fine of 18.2 billion yuan ($2.8 billion) on e-commerce giant Alibaba Group Holding.
The fine was imposed on Alibaba for violating anti-monopoly rules as the country seeks to rein in the power of internet conglomerates. Alibaba accepts the penalty with sincerity and will ensure its compliance with determination, the Hangzhou-based company said in a statement. To serve its responsibility to society, Alibaba will operate in accordance with the law with utmost diligence, continue to strengthen its compliance systems and build on growth through innovation, it added.
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Dispose of all media assets: China to Ma
Dispose of all media assets: China to Ma
Agencies / Updated: Mar 17, 2021, 06:00 IST
The
Alibaba’s sway over public opinion in the country
BEIJING Taking its war against billionaire
Jack Ma’s empire to a new level, the Chinese government has reportedly asked his conglomerate Alibaba to dispose of its media assets.
According to a The Wall Street Journal report citing people familiar with the matter, Chinese officials are more “concerned about the technology giant’s sway over public opinion in the country”.
Alibaba expanded its footprint in the media sector by acquiring the South China Morning Post, an English-language newspaper launched 118 years ago in