Alibaba, largest e-commerce company, fined billions by Chinese regulators for ‘abusing its position’
By Faria in Business
Updated 3 years ago
Alibaba Group was fined billions Saturday by Chinese regulators for anti-competitive acts. The 18.3 billion yuan ($2.8 billion) penalty comes amid the Communist Party’s efforts to crack down on technology and concerns over internet companies’ expansion into sectors like health services and finance, The Associated Press reports. The State Administration...