Friday, 24 March, 2023

Bejing fines Alibaba group record $2.75 bn for anti-monopoly violations

<p>The Chinese government has imposed a record $2.75 bn fine on Alibaba Group after the authorities found the internet giant guilty of abusing its dominant market position for several years. The fine is about 4% of Alibaba&#39;s 2019 China revenues. Alibaba&#39;s empire has come under intense scrutiny in Bejing after the founder Jack Ma&#39;s stinging public criticism of the country&#39;s regulatory system in the month of Oct.</p>