Business World

China fines Jack Ma’s Alibaba $2.75 billion for abusing it’s dominant position

Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan (approximately $2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country. The penalty, equivalent to around 4% of Alibaba‚Äôs revenues in 2019, comes amid an unprecedented regulatory crackdown on the […]