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China gets serious about antitrust, fines Alibaba $2.75B – TechCrunch

Chinese regulators have hit Alibaba with a record fine of 18 billion yuan (about $2.75 billion) for violating anti-monopoly rules as the country seeks to rein in the power of its largest internet conglomerates. In November, China proposed sweeping antitrust regulations targeting its interent economy. In late December, the State Administration for Market Regulation said […]

  • Vendors are often pressured to side with Alibaba to take advantage of its enormous user base.
  • Since late 2020, a clutch of internet giants including Tencent and Alibaba have been hit with various fines for violating anti-competition practices, for instance, failing to clear past acquisitions with regulators.
  • The meager sums of these penalties were symbolic at best compared to the benefits the tech firms reap from their market concentration.

TECHCRUNCH.COM12 Apr, 2021

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