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Home Business & Economics China comes down hard on Alibaba group, fines $2.78bn China comes down hard on Alibaba group, fines $2.78bn Apr 13, 2021 - 7:57 am EDT @theindpanorama Business & Economics 0 Chinese regulators have hit top e-commerce giant Alibaba with a record 18.23 billion yuan ($2.78 billion) fine for violating anti-monopoly laws, it was announced on Saturday, April 10. The fine, the largest anti-monopoly fine ever rolled out by Chinese authorities, was imposed after an investigation revealed an “exclusive dealing agreement” that violated Chinese monopoly laws. The fine is equal to 4% of Alibaba’s sales in 2019,...
