News > China regulators fine Alibaba $2.75 bn for anti-monopoly violations
China regulators fine Alibaba $2.75 bn for anti-monopoly violations
The Hindu | 10/04/2021 10:59 AM | Click to read full article
Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever anti-trust fine to be imposed in the country.
The billionaire founder Jack Ma's business empire has been particularly put under intense scrutiny after his stinging criticism of China's regulatory system in late October.✭