2021-04-10 16:50


Alibaba was fined 18.23 billion yuan by CNs regulator for

China's State Administration for Market Regulation fines Alibaba a record of 18.23 billion yuan ($2.78 billion), 4% of its 2019 revenue, for abusing market dominant position on Saturday. Alibaba is demanded to "stop illegal activities."

Alibaba says it sincerely accepts and resolutely obeys the penalty, vowing to strengthen law-based operations and improve its compliance system after Chinas regulator imposed a 18.23b yuan fine on it for market abusing act.

Source: globaltimes

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