Alibaba receives record $2.8 billion fines from Chinese authorities

April 11, 2021 3:03 pm GMT+0300 52 Views The largest online retailer Alibaba has received the largest fine in the company's history of $ 2.8 billion. As it turned out after an investigation began in December, the company violated Chinese antitrust laws. According to the investigation, the Chinese authorities have found that Alibaba is using advertising algorithms and other software tools in order to prevent other companies from listing and selling their products on other platforms. According to the Chinese Antimonopoly Service, their competition policy exploited "unaffordable competitive advantages." Alibaba executives say: "We will continue to focus on customer care,…